Latest news with #Giottus
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Business Standard
18-07-2025
- Business
- Business Standard
Crypto markets rally as US clears GENIUS Act; BTC holds $120k, ETH eyes $4k
Crypto markets surged with renewed momentum after the US House passed key crypto bills, including the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, signaling strong support for broader digital asset adoption. The other bills passed include the Digital Asset Market Clarity Act of 2025 and the Anti-CBDC Act. The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market. At last check, Bitcoin was trading at around $120,215, up 1.51 per cent, with a 24-hour trading volume of $498.7 billion. The flagship cryptocurrency has fluctuated between $117,508.22 and $120,999.61 over the past 24 hours on CoinMarketCap. Bitcoin is nearly 2.55 per cent away from its all-time high of $123,091, reached on July 14 this year. Its market cap stood at $2.39 trillion, the highest among all cryptocurrencies. Crypto markets, Vikram Subburaj, CEO of Giottus, said, have been re-energised after the US passed the GENIUS Act, adding strength to the broader crypto adoption narrative. US-based XRP and HBAR have rallied 18–22 per cent today in anticipation of more favourable laws in the country. Edul Patel, co-founder and CEO of Mudrex, also attributed the crypto market rally to the passing of these bills in the US House. "The crypto market is gaining strong upward momentum as the US House passed key crypto bills, boosting investor confidence and regulatory clarity," Patel said. "Crypto's rally appears to have further legs, but with the total market cap approaching a milestone at $4 trillion, some profit-taking could affect it in the short term," said Subburaj. He added, "As this plays out, traders are advised to stick to altcoins which have shown strength against BTC in the past 10 days." Ethereum (ETH) eyes $4000 Ethereum (ETH), on the other hand, continued its northward rally for yet another session and was holding above $3,500 levels. At last check, it was trading with gains of 7.48 per cent at $3,595, with a 24-hour trading volume of $53.33 billion. Ethereum, Patel said, "is eyeing the $4,000 level, with solid support at $3,300." Altcoins rally According to CoinSwitch Markets Desk, crypto markets remain in a powerful altcoin-led rally, with Bitcoin holding steady around $120,000 as BTC dominance slips to 61.6 per cent, down from 64 per cent just weeks ago—highlighting that nearly 38 per cent of top-50 tokens have outperformed BTC over the past 90 days, signaling an emerging altseason. The total altcoin market cap has swelled past $1.3 trillion, driven by Layer-1 gains (SUI up 36 per cent, SEI up 41 per cent) and memecoin momentum, while risk-on sentiment spreads with trad-fi investors taking risk at a 25-year high. Among other popular cryptocurrencies, Ripple (XRP) was rallying higher by 17 per cent, and Cardano (ADA) was up 14.45 per cent. "The risks remain, as looming tariff deadlines next month could derail global liquidity and spark volatility, while procedural stalls in the Senate could delay regulatory execution," they said.
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Business Standard
17-07-2025
- Business
- Business Standard
Bitcoin consolidates, ETH breaks out; analysts eye bullish altcoin cycle
Flagship cryptocurrency Bitcoin (BTC) continues to consolidate around $118,000 as demand for major altcoins picks up. At last check, Bitcoin was trading at $118,630, up 0.63 per cent, with a 24-hour trading volume of $71.41 billion, according to data from CoinMarketCap. Over the past 24 hours, BTC has fluctuated between $117,751 and $120,065. Its market capitalisation stood at $2.36 trillion, the highest among all cryptocurrencies. Vikram Subburaj, CEO of Giottus, believes the consolidation in Bitcoin's price is due to growing demand for other altcoins. Ethereum (ETH), for instance, has broken out of a consolidation zone against Bitcoin and recently crossed the $3,300 mark, with targets now set at $3,500. 'This implies a seasonal shift in money flows from Bitcoin to other major altcoins. This is usually a precursor to a full-blown alt-season, which could mark the end of this bullish cycle over the next 6–9 months,' said Subburaj. For this cycle to unfold, he believes Bitcoin needs to maintain a bullish trajectory, especially as macroeconomic and tariff-related cues improve. Echoing similar views, Edul Patel, Co-founder and CEO of Mudrex, said Ethereum is currently outperforming after confidently breaching the $3,000 level. At last check, ETH was trading at $3,377.86, up 7.64 per cent over the previous day. Ethereum has fluctuated between $2,379.57 and $2,481.22 in the past 24 hours. Patel noted that Ether futures open interest hit a record high on Wednesday — a signal of strong bullish sentiment that is prompting traders to aim for higher price targets. 'ETH's strength suggests a shift in momentum within the broader crypto market,' said Patel. From a technical perspective, Patel sees the next resistance for Bitcoin between $124,000 and $126,000, while $113,000 remains a key support level. Among other altcoins, the top gainers for the day include FLOKI, which rose over 26 per cent, followed by Curve DAO Token with a gain of over 16.2 per cent, BONK up 14.64 per cent, and SPX6900 and Fartcoin, each up over 11 per cent. On the other hand, dropped by over 17 per cent, followed by Pudgy Penguins, down over 8.3 per cent, and SEI, which fell by 7.36 per cent, according to the CoinDCX research team. The overall market sentiment, analysts said, remains bullish despite interim bearish movements.
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Business Standard
15-07-2025
- Business
- Business Standard
Bitcoin cools off after record highs, ETH slides as investors book profits
Bitcoin (BTC), after a continuous march into uncharted price territory and scaling past the $123,000 level for the first time in history, appears to be taking a breather as its price has declined nearly 5 per cent from its peak. Market analysts attribute this pullback to profit-taking among investors at higher levels. Last check, Bitcoin was trading at around $117,374.39, lower by 4.17 per cent, with a 24-hour trading volume of $149.68 billion. Bitcoin's all-time high stood at $123,091 on CoinMarketCap, scaled on July 14 this year. The flagship cryptocurrency's market capitalisation stood at $2.2 trillion, highest among all cryptocurrencies. Experts weigh in The correction in Bitcoin, Piyush Walke, derivatives research analyst, Delta Exchange, said, is likely driven by profit-booking among investors. That said, despite the price dip, ETFs recorded substantial inflows – approximately $300 million for Bitcoin and $260 million for Ethereum (ETH), highlighting continued investor confidence. From the technical points of view, Walke believes that $116,000 now stands as a key support level for Bitcoin. "A breach below this could open the door to further downside toward $112,000," said Walke. Vikram Subburaj, CEO of Giottus, believes that crypto markets may need to cool off this week before rallying again. "Spot ETF inflows continue to exhibit a strong trend and will be the key factor in Bitcoin's rally towards $125,000," said Subburaj, adding, "Retail participation has not yet peaked, with the Crypto Fear and Greed Index holding at 74. Typical bull rallies lose steam when this metric hits 80." Altcoins trade lower Ethereum was trading lower by 3.52 per cent at $2,979.54, with a trading volume of $26.97 billion. It has traded in the range of $2,934.37 – $3,079.99 in the last 24 hours. Ethereum's market capitalisation stood at $359.54 billion, marking it as the world's second-largest cryptocurrency by market capitalisation. That said, Ethereum is nearly 39 per cent lower from its all-time high of $4,891.70, scaled on November 16, 2021. Among other popular altcoins, Cardano (ADA) was trading lower by 3.86 per cent, followed by Solana (SOL) down 3.66 per cent, Binance Coin (BNB) down 2.4 per cent, and Ripple (XRP) down 1.27 per cent.
Khaleej Times
08-07-2025
- Business
- Khaleej Times
Bitcoin wavers amid Trump's tariff shock, but bulls eye long-term breakout
Bitcoin slid on Tuesday, reflecting renewed investor caution after US President Donald Trump announced sweeping tariffs on 14 countries, dampening global risk sentiment. The world's most valuable cryptocurrency, which briefly touched $110,000 last week on upbeat US jobs data, pulled back to hover around $108,000 amid geopolitical and policy uncertainty. Market participants expect choppy trading in the short term, but analysts remain largely optimistic about Bitcoin's long-term trajectory. The tariff decision, which imposes duties of up to 40 per cent on imports from countries including Japan, South Korea, Malaysia, and Kazakhstan, will take effect from August 1. Trump also left the door open for revisions, stating the deadline was 'not 100 per cent firm.' The sudden move added a fresh layer of uncertainty to global financial markets, impacting sentiment across both equities and digital assets. 'Cryptocurrencies thrive on clarity and risk appetite,' said Vikram Subburaj, CEO of Giottus. 'With global trade tensions resurfacing, investors are adopting a wait-and-see approach.' He expects Bitcoin to test lower levels around $104,000 in the near term before staging a potential rebound. 'A retracement may flush out bearish sentiment and create conditions for a sharp rally by late July,' Subburaj noted. As of the latest data from CoinMarketCap, Bitcoin was trading at $108,016, down 1.04 per cent over the past 24 hours, with a trading volume of $46.36 billion. Its market capitalisation stood at $2.14 trillion, having moved in a narrow range between $107,500 and $109,200. Edul Patel, co-founder and CEO of crypto investment platform Mudrex, remains bullish on the medium-term outlook. 'The aggregated open interest in Bitcoin futures has climbed by 7 per cent over the past 30 days, marking the first sustained uptick since May. If Bitcoin can close above $110,500, we could see a breakout toward $120,000,' Patel said. He identified $107,100 as the new support level. Crypto markets were generally muted on Tuesday, with major altcoins showing marginal losses. Ethereum (ETH) declined 1.2 per cent to $2,544, while Solana (SOL) slipped 2.05 per cent. Cardano (ADA) and Hyperliquid (HYPE) were down 1.66 per cent and 6.28 per cent respectively. Binance Coin (BNB) dipped 0.29 per cent, and Ripple (XRP) was largely flat. Stablecoin Tether (USDT) held steady at $0.99, indicating a lack of immediate panic selling. Analysts also point to macroeconomic developments as a factor underpinning demand for Bitcoin. Simon Peters, a crypto analyst at eToro, said, 'The passing of Trump's 'One Big Beautiful Bill'— expected to add $3.4 trillion to US federal deficits — could reinforce Bitcoin's appeal as a hedge against currency debasement. Investors are watching for fiscal overspending risks, which tend to strengthen the case for deflationary assets.' Peters added that the expiration of a 90-day tariff pause on July 9 may trigger further market movement depending on the outcome of ongoing trade negotiations. Looking further ahead, global investment bank Standard Chartered has released a bullish price forecast, projecting Bitcoin could reach $135,000 by the end of the third quarter—up 25 per cent from current levels. Geoff Kendrick, head of Digital Asset Research at the bank, said in a recent note, 'Institutional demand via ETFs and corporate treasury allocations has disrupted historical halving-related price patterns. Bitcoin is demonstrating resilience beyond previous market cycles.' Traditionally, Bitcoin's price has experienced post-halving downturns around 18 months after the event. However, Kendrick argues that fresh capital inflows from institutional investors have rewritten the narrative, making a new all-time high more likely in 2025. Investors are also eyeing a crucial legislative week beginning July 14, dubbed 'Crypto Week' on Capitol Hill. US lawmakers are expected to debate at least three major digital asset bills— the Clarity Act, the Anti-CBDC Surveillance State Act, and the Genius Act. The proposed laws could significantly shape the future of the crypto regulatory landscape in the US and influence global sentiment. Analysts said the broader crypto market has entered a phase of guarded optimism, shaped by evolving geopolitics, regulatory developments, and institutional participation. While short-term volatility remains a concern, the combination of macroeconomic shifts and legislative clarity may pave the way for a more robust and sustained crypto rally in the months ahead, they predicted.
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Business Standard
08-07-2025
- Business
- Business Standard
Crypto markets jittery on Trump's tariffs; analysts see short-term impact
Bitcoin price today, Tuesday, July 8, 2025: The crypto markets were under pressure following US President Donald Trump's announcement of hefty tariffs on 14 countries including Japan, South Korea, Malaysia, Indonesia, Kazakhstan and others effective August 1. Market analysts, however, remain optimistic about the long run and expect the impact on the crypto market to be negative only in the short term. Last checked, Bitcoin (BTC) was trading at around $108,016.38, lower by 1.04 per cent, with a 24-hour trading volume of $46.36 billion, according to data from CoinMarketCap. Over the past 24 hours, the flagship cryptocurrency has fluctuated in the range of $107,499.56 to $109,209.01. Its market capitalisation stood at $2.14 trillion. Bitcoin faces resistance at $110,000 The Trump's tariff announcement, Vikram Subburaj, CEO, Giottus, said, will impact the crypto market negatively in the short term. "Even as Bitcoin consolidates above $107,500, a retracement to $104,000 levels may flush out the bearish sentiment and set the stage for a strong rally later this month," said Subburaj. For Bitcoin, the immediate resistance to overcome to confirm the reversal, Subburaj believes, is placed at $110,000 levels. Edul Patel, Co-founder and CEO of Mudrex, on the other hand, remains bullish citing technical factors. Notably, Bitcoin futures have regained strength, with aggregated open interest rising by 7 per cent over the past 30 days marking the first sustained uptick since May this year. This uptick, Patel said, reflects growing trader confidence and increased appetite for volume and leverage. "With bullish sentiment intact, a move past $110,500 could trigger a breakout, while the support has moved up to $107,100," said Patel. Ethereum, and other altcoins trade lower The sentiment extended towards the other altcoins too. Ethereum (ETH), trading lower by 1.2 per cent at $2,544 levels. The world's second-largest cryptocurrency by market capitalisation has moved in the range of $2,517.90 - $2,586.74 in the last 24 hours. Among other popular cryptocurrencies Hyperliquid (HYPE) was trading about 6.28 per cent lower, while Cardano (ADA) declined by 1.66 per cent. Solana (SOL) dropped 2.05 per cent, Binance Coin (BNB) edged lower by 0.29 per cent, and Ripple (XRP) traded flat. Meanwhile, the US dollar-pegged stablecoin Tether (USDT) remained flat at $0.99. Top trending cryptocurrencies today Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), MOBOX (MBOX), Solana (SOL) were among the top trending cryptocurrencies on CoinMarketCap on Tuesday.
