Bitcoin, which was valued at 1.45 percent, is now priced at $19,519 (roughly Rs. 16 lakh) as per Gadgets 360''s crypto price tracker. This is the fourth week that BTC has failed to touch or exceed the $20,000 threshold on Binance, and on Coinbase, it has increased by 1.03 percent. BTC is hovering around the price point of $19,000 (roughly Rs. 15 lakh).
CoinDCX''s research team argued that Bitcoin''s price rise grew in response to a spooky macroeconomic situation in a conversation with Gadgets 360.
With the most recent US CPI (Consumer Price Index) and PPI (Producer Price Index) figures falling above expectations, it suggests that inflation will likely decrease while the FED''s offensive posture will likely remain strong with the DXY (Dollar Strength Index) continuing to rise with another 75bps increase on the cards, according to the CoinDCX team.
Ether, who climbed the price ladder by 2.2 percent, raised $1,330 per unit valuation (roughly Rs. 1 lakh).
BTC and ETH tailed behind Binance Coin, Cardano, Solana, Polygon, Polkadot, Tron, and Avalanche to make modest gains.
Both Dogecoin and Shiba Inu lost all of their losses, with both cryptocurrency generating small profits.
- Tether Has Cut Commercial Paper Exposure From Reserves
Despite this, only a handful of cryptocurrency companies have slipped in prices today.
These include stablecoins like Tether and Binance USD as well as altcoins like Uniswap, LEO, Monero, and Near Protocol.
The crypto market''s valuation increased by 1.6 percent in the last 24 hours. According to CoinMarketCap, the crypto market cap has risen to $936.95 billion (roughly Rs. 76,94,043 crore).