Latest news with #Maradiya
Economic Times
27-06-2025
- Business
- Economic Times
Crypto price today: Bitcoin holds steady near $107k amid $40 billion options expiry
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Bitcoin traded slightly lower on Friday, hovering near the $107,400 level ahead of a massive options expiry event that could inject fresh volatility into the market. As of 11:50 am IST, the world's largest cryptocurrency was down 0.2% at $107,418, after hitting an intraday low of $106, the second-largest digital asset, slipped 1.4% to $2,437, contributing to a broader decline in crypto markets. According to CoinMarketCap data, the total cryptocurrency market capitalisation dropped 0.7% to $3.28 altcoins also witnessed a pullback. XRP led the losses among majors, falling 4%, while BNB, Solana, Tron, Dogecoin, Cardano, Hyperliquid, Sui, Chainlink, and Stellar declined up to 3%.Vikram Subburaj, CEO of Giottus, said Bitcoin is holding below $108,000 with a retest of key support levels in play. 'Order book data shows concentrated sell pressure above current levels, while fresh bid liquidity near $105,700—around the 50-day moving average—is emerging as a potential buying zone. With whales adding exposure and long liquidations clustered near $107,000, short-term volatility may persist, but the underlying structure still favours accumulation over distribution,' he also noted that the $40 billion options expiry scheduled for Friday could bring sharp price moves. Nearly 40% of the contracts are set to expire, with a max pain point at $102,000, raising the risk of a downside drift if bulls fail to defend $105, CoinSwitch Markets Desk highlighted diverging investor behaviour in on-chain data. 'Retail investors holding less than 1 BTC have trimmed their holdings by 54,500 BTC over the past year, averaging outflows of 220 BTC per day. In contrast, large holders with 1,000 BTC or more have accumulated 507,700 BTC, with average daily inflows of 1,460 BTC—signalling strong institutional confidence,' the desk added that Ethereum continues to show weakness, slipping 2.5% to around $2, Maradiya, Founder & Chairman of CIFDAQ, pointed to macro and ETF-related drivers behind Bitcoin's resilience. 'Bitcoin has soared past $107,000 amid weakening dollar strength (DXY at 97.11) and record ETF inflows—$340 million to BlackRock's IBIT alone on June 25. With 72% of the BTC supply now illiquid, the stage is set for a supply shock rally,' he also flagged Japan's Metaplanet surpassing Tesla as the fifth-largest corporate BTC holder with 12,345 BTC, mirroring MicroStrategy's strategy in Asia-Pacific. 'Hong Kong is pushing forward with tokenised real-world asset regulations starting August 1, which could lead the next wave of innovation from the East,' he Vishwanath, Co-Founder & CEO of Unocoin, said Bitcoin continues to trade with a bullish undertone despite volatility. 'Support lies strong at $100K, while resistance is seen near $108K. If BTC holds above $100K, it could test $112K soon. ETF flows and institutional interest remain key drivers. The Fear & Greed Index currently shows 'Greed,' indicating strong sentiment but also potential for pullback,' he sees short-term targets in the $104K–$108K range, while long-term projections remain optimistic, with year-end estimates ranging from $150K to $ the regulatory front, a U.S. district court denied a joint request from the SEC and Ripple seeking an indicative ruling to reduce a $125 million civil penalty. Meanwhile, asset manager Invesco filed to launch a spot Solana ETF, becoming the ninth player to do so.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
18-06-2025
- Business
- Business Standard
Crypto market pauses as BTC dips below $105,500 ahead of US Fed decision
Bitcoin price today, Wednesday, June 18, 2025: The cryptocurrency market is trading sideways ahead of the US Federal Reserve 's decision on key interest rates and the release of weekly jobless claims data later today. The flagship cryptocurrency, Bitcoin (BTC), briefly touched $107,253 in early trading but has since slipped below $105,500, primarily due to fresh geopolitical tensions in the Middle East, analysts said. Analysts, however, believe that the regulatory developments such as the GENIUS Act and Thailand's recent five-year tax exemption policy are shaping a new global crypto landscape. As of 12:13 PM on Wednesday, June 18, Bitcoin (BTC) was trading at $105,156.58, down 1.71 per cent, with a 24-hour trading volume of $53.03 billion, according to CoinMarketCap. The cryptocurrency has fluctuated between $103,396.53 and $107,253.95 in the past 24 hours. Bitcoin's market capitalisation stood at $2.09 trillion, cementing its position as the world's largest cryptocurrency by market cap. Investors eye US Fed rate cut decision Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, is trading near $105,000 as the crypto market reacts to the fresh escalations in the Middle East. "While retail investors remain cautious, institutions continue to buy, with Bitcoin ETFs recording over $412 million in net inflow, indicating long-term conviction in the asset," said Patel. Patel expects the markets to trade sideways ahead of the Fed rate cut decision and the US jobless claims data later today. "A dovish outcome from the FOMC meeting could trigger a breakout above $107,700, while key support remains firm at $102,200." Meanwhile, Riya Sehgal, research analyst, Delta Exchange, believes the key resistance lies at 106.5k as it is holding above $105k with higher lows which signals relative strength. US Senate passes GENIUS Act Overnight, the US Senate passed the GENIUS Act, a bill establishing a federal regulatory framework for stablecoins, with a 68–30 vote. The legislation mandates that stablecoins be fully backed by liquid assets like US dollars or short-term Treasury bills and requires issuers to disclose reserve compositions monthly. This bipartisan measure aims to enhance transparency, protect consumers, and bolster the role of the US dollar in digital transactions. The GENIUS Act's Senate passage, Himanshu Maradiya, founder & chairman of CIFDAQ, said, marks a turning point in US stablecoin regulation, ushering in transparency, full reserve backing, and strict auditing. "While it tightens the noose around offshore issuers like Tether, it creates fertile ground for compliant players like USDC, PayPal USD, and bank-issued tokens. Tether's exclusion from US financial rails could lead to a reshuffle in stablecoin dominance," said Maradiya. Maradiya expects US-based stablecoins to gain market share and attract deeper institutional use. 'Investors should watch for new GENIUS-compliant entrants, as regulatory clarity fuels capital inflows into compliant DeFi and stablecoin infrastructure—key pillars for the next phase of crypto's mainstream adoption,' he added. Ethereum and other altcoins trade lower Ethereum (ETH) was trading on a similar trajectory, hovering near $2,530, stuck in a consolidation zone between $2,450 and $2,575. Last check, Ethereum was seen trading at around $2,537.54, lower by 1.93 per cent, with a trading volume of $23.51 billion. Ethereum has traded in the range of $2,456.65 to $2,588.21 in the last 24 hours. The structure shows lower highs, suggesting caution. Among other popular altcoins, Solana (SOL) was trading lower by 4 per cent, Hyperliquid (HYPE) was down 3.92 per cent, Ripple (XRP) was lower by 3.5 per cent, Cardano (ADA) was down 2.72 per cent, and Binance Coin (BNB) was lower by 0.59 per cent.
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Business Standard
07-05-2025
- Business
- Business Standard
Bitcoin's bullish momentum gains steam, eyes $100k ahead of US FOMC meeting
Bitcoin (BTC) price today, May 7, 2025: Bitcoin (BTC) has broken out of its range-bound phase between $90,000 and $95,000 and resumed its upward trajectory to reclaim $97,000 levels as market sentiment improved ahead of the US Federal Open Market Committee (FOMC) meeting. This, market analysts said, signals a bullish momentum for Bitcoin toward the $100K mark. At 10:20 AM on Wednesday, May 7, Bitcoin was quoted trading at around $96,476.58, higher by 2.13 per cent. The world's most popular cryptocurrency had a 24-hour trading volume of $31.36 billion. Bitcoin's market capitalisation stood at $1.91 trillion, the highest among all cryptocurrencies. Bitcoin has traded in the range of $93,399.86 to $97,625.81 in the last 24 hours, according to data from CoinMarketCap. Factors such as New Hampshire authorising the 'Bitcoin reserve bill' and rising hopes over a potential US-China trade deal, Alankar Saxena, Co-founder and CTO of Mudrex, said, drove renewed buying by the bulls. "While a rate cut remains unlikely, any move toward quantitative easing could inject fresh liquidity into the market, further supporting risk assets like crypto," said Saxena. Further on the regulatory front, the US has unveiled a draft crypto bill aimed at redefining digital asset oversight and strengthening investor protection, stating, 'The golden age of digital assets is here.' If Bitcoin breaks the resistance at $97,900, Saxena believes, a decisive move above the $100K mark is possible, with support standing at $93,700. Himanshu Maradiya, Founder and Chairman, CIFDAQ Group also shares similar views and remains bullish on the outlook of Bitcoin. The breakout of Bitcoin from $90,000 - $95,000, Maradiya said, signals bullish momentum toward the $100K mark. "Meanwhile, the geopolitical tensions between India and Pakistan, including 'Operation Sindoor'," Maradiya said, "have introduced short-term volatility, which may impact prices. Long-term effects will depend on the resolution of the conflict," said Maradiya. Ethereum and other altcoins Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, is also in focus, with the Pectra upgrade scheduled for today, adding to the overall market optimism. At last check, it was trading at around $1,828.02, up 1.84 per cent. Among other popular cryptocurrencies, Solana (SOL) was trading higher by 0.81 per cent, Binance Coin (BNB) was up by 0.78 per cent, and Ripple (XRP) up by 1.12 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $0.9999, down 0.001 per cent. Bitcoin (BTC), Ethereum (ETH), Alpaca Finance (ALPACA), Solana (SOL), and Litecoin (LTC) were among the top trending crypto coins on CoinMarketCap.
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Business Standard
25-04-2025
- Business
- Business Standard
Crypto market update: Bitcoin holds $93k level, faces resistance at $95k
Crypto markets have entered a consolidation phase after recent upside, with traders increasingly looking to altcoins for directional cues. Bitcoin (BTC) faced a minor pullback, however, has bounced back above $93,000 levels. At 10:38 AM on Friday, April 25, the flagship cryptocurrency was quoted trading at around $93,213.75 levels, higher by 0.28 per cent. Bitcoin has traded in the range of $91,696.71 to $94,430.89 in the last 24 hours, according to data from CoinMarketCap. The world's most popular cryptocurrency, which also has the largest market capitalisation, has a 24-hour trading volume of $32.73 billion. Bitcoin's market capitalisation stood at $1.84 trillion. Bitcoin, Alankar Saxena, co-founder and CTO of Mudrex, said, has quickly bounced back following a minor pullback due to a marginal increase in US jobless claims. However, robust inflows into spot Bitcoin ETFs, which totalled over $2.2 billion this week, gave Bitcoin enough strength to recover. According to CoinGlass data, a break above the $95,000 mark could trigger liquidations of nearly $700 million in short positions, easing selling pressure and setting the stage for the next leg up. "This could push Bitcoin to reclaim the $100,000 mark, while the support stands at $90,800," said Saxena. Meanwhile, Himanshu Maradiya, founder and chairman, CIFDAQ Group, believes that while Bitcoin hovers above the $90,000 resistance level, the spotlight is gradually shifting, just as in previous cycles, toward the altcoin space. AI, gaming, and meme tokens are drawing fresh attention from retail investors, reflecting a renewed risk-on appetite. However, this enthusiasm, Maradiya said, also comes with heightened volatility, especially among low-cap assets that can magnify both gains and losses. Sentiment, he said, remains cautiously optimistic, supported by expectations of favorable macroeconomic data and ETF inflows. "If liquidity conditions hold, select altcoins may outperform majors in the near term," said Maradiya. Here's how other cryptocurrencies are faring Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, was quoted trading at around $1,765.72, down 0.45 per cent. Among other popular cryptocurrencies, Solana (SOL) was trading higher by 1.71 per cent, Binance Coin (BNB) with marginal gains of 0.04 per cent. Ripple (XRP), on the other hand, traded with a loss of 0.42 per cent. Meanwhile, the US dollar-linked stablecoin Tether traded at $1, up 0.04 per cent. Top trending Cryptocurrencies
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Business Standard
23-04-2025
- Business
- Business Standard
Bitcoin eyes $100,000: Is this the last chance to buy under six figures?
Cryptocurrencies were buzzing in trade on Monday, April 23, 2025, with the flagship currency Bitcoin (BTC) reclaiming the $90,000 threshold for the first time in 45 days. The broader crypto market has responded positively, with total market capitalisation rising by 5.82 per cent to $2.91 trillion. Market analysts attribute this rally in cryptocurrencies to increased institutional buying, a weakening dollar index, and other favorable macroeconomic conditions. Bitcoin, the world's most popular and largest cryptocurrency by market capitalisation, traded higher by nearly 6.41 per cent at $93,697.52 at 10:30 AM on April 23, 2025. The flagship crypto has traded in the range of $87,972.21 to $93,847.25 in the last 24 hours, with a trading volume of $56.02 billion, according to CoinMarketCap. Bitcoin's current market capitalisation stands at $1.85 trillion. This sharp upward move in Bitcoin, Riya Sehgal, research analyst at Delta Exchange, said, is not just a product of technical momentum—it is driven by stronger macroeconomic signals and renewed institutional interest. "The recent $381 million in net inflows across US spot Bitcoin ETFs, the highest single-day total since late January, speaks volumes about the shift in sentiment among long-term investors. With long-term holders steadily accumulating and technical indicators showing strength above key support levels, the stage may be set for Bitcoin to make a decisive push toward the $100,000 milestone," said Sehgal. Impact of geopolitical developments Geopolitical developments are also playing a key role. Remarks from US Treasury Secretary Scott Bessent and President Trump suggesting a de-escalation in the US-China trade dispute have improved the broader risk environment, lifting both traditional equities and digital assets. Over $581 million in liquidated short positions highlights how swiftly the market is rebalancing in response to this optimism. This current surge highlights Bitcoin's resilience amid persistent market volatility, said Himanshu Maradiya, founder and chairman of CIFDAQ Group. Supporting this rally, the US dollar index has hit a three-year low at 98.29, creating favorable macroeconomic conditions for crypto assets. "Adding to the bullish sentiment is the appointment of Paul Atkins as SEC Chairman. His return signals a shift toward a more constructive regulatory approach, with several enforcement actions already rolled back under his leadership," said Maradiya. "With resistance expected around the $90K–$94K range, investors may be looking at the 'last chance' to accumulate Bitcoin below $100K." However, Maradiya advises caution, as volatility may still resurface. Institutional buying impact Meanwhile, Alankar Saxena, co-founder and CTO of Mudrex, attributes this rally to increased institutional buying, with Bitcoin spot ETFs seeing net inflows reach a multi-month high of over $700 million, totaling over $1 billion in inflows this week alone. "Additionally, the Fear and Greed Index now stands at 'Neutral', indicating that retail investors are re-entering the markets. Another bullish metric is the decline in exchange inflows, suggesting reduced selling pressure, helping build momentum," said Saxena. If bulls stay in control, Saxena expects Bitcoin to move toward $100K, with support moving up to $88,000. That said, altcoins were closely following Bitcoin's lead. Ethereum (ETH) stands out with a 13.27 per cent gain in the past 24 hours, driven by strong network activity and renewed investor interest. Solana (SOL) has also performed well, posting a 6.68 per cent gain. Meanwhile, XRP and several other altcoins have recorded solid upward momentum, further fueling optimism across the market.
