Synopsis
Bitcoin (BTC) surged to a record high of $107,780 on Tuesday, driven by positive sentiment towards digital currencies. As of 10:16 AM IST, BTC was trading at $106,482, up 1.9% in the past 24 hours. Ethereum also saw a 1.4% increase, trading at $4,006.
Bitcoin (BTC), the world’s largest cryptocurrency by market value, reached another new milestone, soaring to a record high above $107,000 on Tuesday, fueled by positive sentiment towards digital currency.
BTC touched an all-time high of $107,780 and was trading 1.9% higher at $106,482 in the past 24 hours as of 10:16 AM IST. Ethereum, the second-largest cryptocurrency, also gained 1.4%, trading at $4,006 during the same period.
“Investor enthusiasm remains robust, as evidenced by Bitcoin’s continued ascent. Additionally, discussions in India’s Lok Sabha regarding the upcoming cryptocurrency regulation bill have added to the market’s optimism,” said Shivam Thakral, CEO of BuyUcoin.
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TOP COIN SETSDeFi Tracker20.40% BuySmart Contract Tracker13.38% BuyCrypto Blue Chip – 513.04% BuyBTC 50 :: ETH 5013.03% BuyAI Tracker9.92% BuyTOP COINS (₹) XRP213 (4.28%)BuyBitcoin9,041,810 (1.34%)BuyEthereum340,281 (1.17%)BuyTether85 (0.19%)BuyBNB60,782 (0.15%)BuyMeanwhile, Edul Patel, CEO of Mudrex, added, “Bitcoin continues its upward momentum, hitting a new all-time high of $107,700, driven by institutional buying. Semler Scientific added 211 BTC worth $21.5 million, while MicroStrategy acquired 15,350 BTC for $1.5 billion, showcasing institutional confidence in the market.”
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View Details »“Currently trading at $106,300, Bitcoin faces resistance at $108,900, with strong support at $101,700,” Edul said.
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Major altcoins traded mixed. XRP, BNB, and Tron saw gains of up to 3%, while Solana, Dogecoin, Cardano, Avalanche, Chainlink, and Toncoin traded up to 5% lower.
“While Bitcoin is now leading with strong fundamentals, historical trends indicate that altcoins, such as Ethereum and Solana, will likely follow suit. Ethereum rallying above the $4,000 mark shows confidence returning to institutional investors, enhanced by on-chain activity and its dominance in decentralized finance. While Ethereum can consolidate a little because of the selling pressure but the overall market sentiments are bullish,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
According to data available on , the volume of all stablecoins is now $188.69 billion, which is 92.6% of the total crypto market 24-hour volume. The global cryptocurrency market cap rose 0.7% over the past 24 hours, reaching approximately $3.73 trillion.
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, rose to $2.11 trillion. Bitcoin’s dominance is currently 56.6%, according to . BTC volume in the last 24 hours surged 28.1% to $80.2 billion.
(Disclaimer: 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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