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Business Standard
5 days ago
- 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.
Mint
10-06-2025
- Business
- Mint
Crypto news update, June 10: Bitcoin brushes $110k catching traders off-guard before moving to $1,09,449
Bitcoin price today, June 10: The world's largest cryptocurrency, Bitcoin, briefly rose 1.38 per cent to $110,277.93 on June 10, while Ether jumped 4.8 per cent to $2,713.39, before slipping sightly on profit-booking. CoinSwitch Markets Desk noted that the hike caught traders off guard. 'Over $110 million in short positions were liquidated within an hour, with a total of $330 million in shorts wiped out over the course of the day,' they noted. Overall, the crypto market capitalisation on June 10 is at $3.41 trillion, with trade volume over the past 24 hours being $134.11 billion, according to data on CoinMarketCap. Further, in terms of dominance, Bitcoin gained 1.41 per cent to comprise 63.6 per cent of the market share on June 10; while Ethereum rose 0.43 per cent to 9.5 per cent dominance; and other tokens fell 1.84 per cent to comprise the remaining 26.9 per cent of the crypto market, data showed. Early at 5 am on June 10, Bitcoin briefly touched 1,10,000 levels, before moving to $109,449.70 at time of writing, as per CoinMarketCap. It was up 3.74 per cent from the previous day, with market cap at $2.17 trillion (also up 3.79 per cent), and tarde volume of $58.15 billion (up 50.45 per cent). According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, Bitcoin 'is trading above its anchored VWAPs, reinforcing the prevailing positive market sentiment'. Further, at time of writing, Ethereum was up 7.40 per cent over the past 24 hours, to $2,677.74, with market cap of $323.26 billion (up 7.41 per cent), and volume of $26.92 billion (up 98.57 per cent). In other big names, USD linked Tether was at $1, with market cap of $155.22 billion (up 0.25 per cent), and volume of $87.48 billion (up 53.04 per cent); while the Solana token was at $158.54, with market cap of $83.22 billion (up 5.16 per cent) and volume of $3.9 billion (up 73.83 per cent). Walke noted that Bitcoin recently formed an inverted Head and Shoulders pattern on the hourly timeframe, which is 'a bullish technical setup'. 'Based on the pattern's projection, Bitcoin could target levels around $111,000. On the institutional side, Bitcoin spot ETFs recorded net inflows of $386.2 million, while Ethereum ETFs attracted $53 million, indicating growing investor interest in both assets,' he added. CoinSwitch's opinion was that a decisive break above $110k or below $100k will be needed to sustain momentum. And CoinDCX research team noted that 'investor's sentiments are slowly turning into 'greed' after a brief consolidation'. Edul Patel, Co-founder and CEO of Mudrex noted, 'the crypto market saw a strong rally, amid easing geopolitical tensions. The US and China resuming trade negotiations led to a positive investor sentiment, with the rally extending to Ethereum, Solana, and other altcoins.' 'Meanwhile, about $38 million in short positions were liquidated, reducing downside pressure. If the momentum sustains, Bitcoin could attempt a new all-time high soon, with support standing at $105,600,' he added. Key Takeaways Bitcoin's recent rally indicates a shift in investor sentiment towards optimism. Technical patterns suggest potential price targets and market trends. Short position liquidations highlight the volatile nature of cryptocurrency trading.
Economic Times
12-05-2025
- Business
- Economic Times
Crypto prices today: Bitcoin tops $105K on US-China trade optimism; Altcoins mixed
Bitcoin surged above $105,000 on Monday, driven by growing optimism around U.S.-China trade talks and increasing interest in the broader cryptocurrency market. ADVERTISEMENT As of midday trading (IST), the world's leading cryptocurrency was hovering around $103,914 after touching an intraday high of $105,039. Global financial markets also reacted positively to reports that the U.S. may reduce tariffs on Chinese imports. Although no deal has been finalised, hopes of a rollback to earlier levels are raising expectations that a global recession might be avoided. 'The market is still bullish, especially with a possible U.S.-China trade deal on the way,' said Vikram Subburaj, CEO of Giottus Crypto Platform. 'If Bitcoin stays above $105,000, it could hit new highs soon.'Bitcoin's market capitalisation rose to $2.067 trillion, with daily trading volume increasing 4% to $46.32 billion. The overall cryptocurrency market cap now stands at $3.46 trillion, though it slipped slightly by 2% in the past 24 analysts say Bitcoin is gaining strong upward momentum. Piyush Walke, Analyst at Delta Exchange, pointed out that Bitcoin recently broke out of a bullish chart pattern. 'If the breakout holds, Bitcoin could rise to $115,600,' he said, while noting that resistance could emerge near the $107,000 level. ADVERTISEMENT Also Read: Crypto market regains bullish momentum amid economic shifts and institutional inflows Sathvik Vishwanath, CEO of Unocoin, added a note of caution. 'Technical indicators show overbought conditions, which could lead to a short-term pullback. Key support lies at $100,000, and resistance is at $106,265.' ADVERTISEMENT Meanwhile, altcoins showed mixed results. Ethereum fell slightly but stayed strong above $2,500. Dogecoin, Cardano, Sui, Chainlink, and Shiba Inu gained up to 3%. Pi coin jumped over 40%, becoming the top performer of the day. Also Read: 5 timeless Warren Buffett quotes every investor should know ADVERTISEMENT Market sentiment remains optimistic. According to CoinDCX, the Crypto Fear & Greed Index climbed to 73, indicating increased investor confidence. More than 110,000 Bitcoin were withdrawn from exchanges in the past month — a bullish signal, often interpreted as investors preparing to hold rather than sell. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
12-05-2025
- Business
- Business Standard
Bitcoin consolidates near $104k, eyes $115k; ETH slips below $2,500
Flagship cryptocurrency Bitcoin (BTC), after reclaiming the $100,000 level for the first time since February 2025, continues to hold above it. Bitcoin hit the six-figure milestone on Thursday, May 8, but has since been consolidating around the $104,000 level. Bitcoin was trading at $103,893.53, up marginally by 0.03 per cent at 11:26 AM on CoinMarketCap. The cryptocurrency has fluctuated between $103,364.74 and $105,039.36 over the past 24 hours, with a trading volume of $46.73 billion. Bitcoin's market capitalisation stood at $2.06 trillion, the highest among all cryptocurrencies. Notably, Bitcoin is 4.73 per cent lower than its all-time high of $109,114.88, reached nearly four months ago on January 20, 2025. Bitcoin eyes fresh highs The current consolidation in Bitcoin, Piyush Walke, derivatives research analyst at Delta Exchange, said, marks a breakout from Bitcoin's recent consolidation zone, which had formed a bullish flag-and-pole pattern. If the breakout holds, Walke suggests that the technical projection could indicate a potential move toward the $115,600 level, surpassing the previous all-time high. Echoing similar views, Vikram Subburaj, CEO of Giottus Crypto Platform, believes that Bitcoin could scale a new all-time high. "This is a decisive week for crypto as Bitcoin consolidates above $103,000. A strong bullish bias driven by a new US-China deal could be the fuel for another sustained run in the markets. If Bitcoin breaks above $105,000, it could rally toward a new high," Subburaj said. Walke, on the other hand, noted, "If Bitcoin maintains its upward momentum, the $115,600 target levels could be reached in the near term. However, it may encounter resistance near the $107,000 level, which also aligns with a technical supply zone. Meanwhile, Bitcoin reaching the position of the world's fifth-largest asset by market capitalisation marks a significant milestone, reflecting growing investor confidence in the broader crypto asset class." Altcoins trade lower Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, slipped below the $2,500 mark after briefly scaling above it. It was trading lower by 2.36 per cent at $2,496.88. It has traded in the range of $2,441.73 - $2,557.42 in the last 24 hours. Ethereum is nearly 48 per cent lower from its all-time high of $4,891.70, reached on November 16, 2021. Among other popular altcoins, Cardano (ADA) was trading lower by 0.28 per cent, Solana (SOL) up 1.01 per cent, Ripple (XRP) 0.81 per cent, and Binance Coin (BNB) 1.55 per cent. Bitcoin (BTC), Moo Deng ( Pi (PI), Peanut the Squirrel (PNUT), and Goatseus Maximus (GOAT) were among the top most trending cryptocurrencies on CoinMarketCap.
Time of India
12-05-2025
- Business
- Time of India
Crypto prices today: Bitcoin tops $105K on US-China trade optimism; Altcoins mixed
Bitcoin surged above $105,000 on Monday, driven by growing optimism around U.S.-China trade talks and increasing interest in the broader cryptocurrency market. As of midday trading (IST), the world's leading cryptocurrency was hovering around $103,914 after touching an intraday high of $105,039. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No one would believe how you can use plastic bottles at home! Story to Hear Undo Global financial markets also reacted positively to reports that the U.S. may reduce tariffs on Chinese imports. Although no deal has been finalised, hopes of a rollback to earlier levels are raising expectations that a global recession might be avoided. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Crypto Tracker TOP COIN SETS DeFi Tracker 36.29% Buy AI Tracker 35.00% Buy NFT & Metaverse Tracker 31.57% Buy Web3 Tracker 26.97% Buy Crypto Blue Chip - 5 18.08% Buy TOP COINS (₹) Ethereum 218,674 ( 2.78% ) Buy XRP 206 ( 1.96% ) Buy Bitcoin 8,949,228 ( 1.03% ) Buy BNB 56,336 ( 0.47% ) Buy Tether 85 ( -0.69% ) Buy 'The market is still bullish, especially with a possible U.S.-China trade deal on the way,' said Vikram Subburaj, CEO of Giottus Crypto Platform. 'If Bitcoin stays above $105,000, it could hit new highs soon.' Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Bitcoin's market capitalisation rose to $2.067 trillion, with daily trading volume increasing 4% to $46.32 billion. The overall cryptocurrency market cap now stands at $3.46 trillion, though it slipped slightly by 2% in the past 24 hours. Live Events Technical analysts say Bitcoin is gaining strong upward momentum. Piyush Walke, Analyst at Delta Exchange, pointed out that Bitcoin recently broke out of a bullish chart pattern. 'If the breakout holds, Bitcoin could rise to $115,600,' he said, while noting that resistance could emerge near the $107,000 level. Also Read: Crypto market regains bullish momentum amid economic shifts and institutional inflows Sathvik Vishwanath, CEO of Unocoin, added a note of caution. 'Technical indicators show overbought conditions, which could lead to a short-term pullback. Key support lies at $100,000, and resistance is at $106,265.' Meanwhile, altcoins showed mixed results. Ethereum fell slightly but stayed strong above $2,500. Dogecoin, Cardano, Sui, Chainlink, and Shiba Inu gained up to 3%. Pi coin jumped over 40%, becoming the top performer of the day. Also Read: 5 timeless Warren Buffett quotes every investor should know Market sentiment remains optimistic. According to CoinDCX, the Crypto Fear & Greed Index climbed to 73, indicating increased investor confidence. More than 110,000 Bitcoin were withdrawn from exchanges in the past month — a bullish signal, often interpreted as investors preparing to hold rather than sell.
