Latest news with #Walke
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Business Standard
16-07-2025
- Business
- Business Standard
Bitcoin continues trading sideways; Ethereum outperforms with strong gains
Bitcoin (BTC) continues to remain range-bound after seeing profit booking at higher levels. Last check, it was trading at around $117,855.92, higher by 0.71 per cent, with a 24-hour trading volume of $85.01 billion. The flagship cryptocurrency has fluctuated in the range of $115,765.69 – $118,443.60 in the last 24 hours on CoinMarketCap. Bitcoin is currently 4.25 per cent away from its all-time high of $123,091.6 scaled on July 14 this year. Bitcoin to consolidate in short term Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, is consolidating following a procedural setback for crypto-related legislations in the US. "Despite this, the broader market remains bullish, with Ethereum trading at a 5-month high above $3,100." "Steady ETF inflows and over 545,000 ETH accumulated by corporate treasuries in the past month helped maintain the uptrend. Market focus now shifts to the US PPI data due today," said Patel. A softer-than-expected print, he believes, could revive bullish momentum and push BTC above $120,000, while a higher reading may lead to a retest of the $115,000 support zone. Piush Walke, derivatives research analyst at Delta Exchange, on the other hand, expects Bitcoin to consolidate before making a directional move in the near term. Bitcoin has seen increased volatility following a round of profit-taking, with sharp intraday price swings. It continues to trade within a broad range of $115,500 to $118,500. "A decisive breakout and close above this range would be key for the next leg of its rally," said Walke. Ethereum outperforms Ethereum (ETH), on the other hand, was trading with a substantial gain and holding above the psychological $3,000 mark. Last check, it was seen trading at $3,143.10, higher by 5.52 per cent with a trading volume of $35.98 billion. It has traded in the range of $2,961.87 – $3,149.79 in the last 24 hours. For Ethereum, Walke believes resistance near $3,200 could pose a challenge, as whale order data suggests selling activity near the level. "Institutional interest in Ethereum remains strong, with $193 million flowing into Ethereum ETFs," said Walke. Besides, the other popular altcoins do not appear to have moved much as they remain stuck around the gained levels. Regardless of this, the momentum and market sentiment, according to the CoinDCX research team, is bullish, and hence the cryptos are believed to rise again. Among the top gainers are Ethereum Name Service (ENS) with over an 18 per cent jump, followed by Bonk with 15.5 per cent and by 15 per cent. The losers for the day include Fartcoin with a drop of 3.22 per cent, Four by 2.78 per cent, and UNUS SED LEO by close to 2 per cent.
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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.
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.
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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.
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Business Standard
08-05-2025
- Business
- Business Standard
Fed's steady hand drives Bitcoin toward $100K; ETH, other altcoins surge
The crypto market was buzzing in trade after the US Federal Reserve's Jerome Powell announced to keep the interest rates steady at the range of 4.25 per cent and 4.50 per cent, while acknowledging continued economic strength. Market analysts believe this has reinforced positive market sentiment for cryptocurrencies. Following the announcement, the flagship cryptocurrency Bitcoin reclaimed the $99,400 level, just 600 points shy of the $100,000 mark. It has, however, taken a slight retreat and was quoted trading at around $98,863.98, up by 2.63 per cent at 11:17 AM on Thursday, May 8. The world's most popular cryptocurrency had a 24-hour trading volume of $50 billion. Bitcoin's market capitalisation stood at $1.96 trillion, the highest among all cryptocurrencies. The last 24-hour trading range for Bitcoin was between $95,829.33 and $99,406.51, according to data from CoinMarketCap. Bullish momentum may push Bitcoin beyond $100,000 This bullish momentum, Piyush Walke – derivatives research analyst at Delta Exchange, said, is likely to sustain as investors are increasingly viewing Bitcoin as a store of value rather than merely a speculative asset. The next key level to watch is the $100,000 mark, which Walke believes also serves as a major psychological resistance—potentially triggering some minor selling pressure. "The Federal Reserve's decision not to cut interest rates signals a continued focus on controlling inflation, reinforcing a tight monetary policy stance. Bitcoin responded positively to the announcement, rallying by approximately 2,000 points. Meanwhile, cumulative inflows into Bitcoin ETFs have reached a new all-time high of $40.62 billion, highlighting a sharp rise in institutional participation and further validating Bitcoin's role as a mainstream investment vehicle," said Walke. Echoing similar views, Edul Patel, co-founder and CEO of Mudrex, also said that the US Fed's decision to keep benchmark interest rates steady, while acknowledging continued economic strength, has reinforced positive market sentiment. Meanwhile, China's liquidity-boosting measures and the Fed's return to quantitative easing, with over $34 billion in bond purchases this week, have created a supportive macro backdrop for crypto. "Any fresh wave of liquidity could reduce real yields, devalue fiat, and potentially drive further inflows into crypto assets," said Patel. A move past $99,300, Patel believes, could trigger a wave of short liquidations, helping Bitcoin's rally beyond the $100K mark. Altcoins benefit from positive market sentiment Sentiments were favorable among other cryptocurrencies as well. Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, was trading higher by 3.96 per cent at $1,899.90. It has traded in the range of $1,788.69 - $1,913.43 in the last 24 hours. Ethereum is nearly 61 per cent lower from its all-time high of $4,891.70, reached on 16, 2021. Among other popular altcoins, Solana (SOL) was leading the charge with gains of 3.31 per cent, followed by Cardano (ADA) up 3.81 per cent, Ripple (XRP) up 2.05 per cent, and Binance Coin (BNB) up 0.94 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $1, up 0.01 per cent. Bitcoin (BTC), Mog Coin (MOG), Ethereum (ETH), EOS (EOS), Solana (SOL), and Bitcoin Cash (BCH) were among the top trending crypto coins on CoinMarketCap.
