Synopsis
Crypto prices show recovery after a drop, with Bitcoin rebounding to $94,856, up 1.2%. Ethereum slips 0.9%. Bitcoin finds support at $89,200, and institutional moves, like BlackRock’s Bitcoin ETFs, boost sentiment. Altcoins such as Dogecoin and XRP gain, while stablecoins dominate the market volume at 92.61%. Bitcoin’s market cap rises to $1.879 trillion.
Crypto prices are showing signs of recovery today, after a sudden drop on Monday, ahead of the US Consumer Price Index (CPI) report due on Wednesday. Bitcoin, which had fallen to $89K, a level it hadn’t seen in 24 days, has rebounded strongly.
As of 11:00 am IST, Bitcoin was trading at $94,856, up 1.2%, after hitting an intraday low of $89,260. Ethereum slipped 0.9% to $3,174. Meanwhile, the global crypto market cap saw a 1% rise, reaching $3.29 trillion.
“Bitcoin found strong support at $89,200 and quickly rebounded to $94,800. While investor caution ahead of key economic data triggered an initial dip, the market recovered swiftly after reports of former President Trump planning crypto-friendly executive orders,” said Edul Patel, CEO of Mudrex.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 5-2.01% BuyBTC 50 :: ETH 50-3.66% BuyWeb3 Tracker-4.71% BuySmart Contract Tracker-5.51% BuyDeFi Tracker-7.94% BuyTOP COINS (₹) XRP221 (4.88%)BuyBitcoin8,297,267 (3.18%)BuyBNB59,999 (2.58%)BuyEthereum276,356 (0.83%)BuyTether87 (0.22%)Buy”Moreover, institutional moves, such as BlackRock’s Bitcoin ETFs launch in Canada and MicroStrategy’s $243 million BTC purchase, further boosted market sentiment, helping Bitcoin regain momentum. Bitcoin’s support level has now moved to $90,900, with resistance at $96,600, signaling renewed confidence,” Patel added.
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Other major altcoins also saw significant gains on Tuesday. XRP rose 2.35%, BNB gained 1%, and Solana increased by 1.8%. Dogecoin led the pack with a 4.6% surge, followed by Cardano (2.1%), Toncoin (1%), Shiba Inu (1.75%), Chainlink (2%), and Hedera (3.4%).
“XRP, BNB, and Sui posted modest gains, with Dogecoin outperforming the market with a 4% rise. Altcoins are anticipated to gradually catch up as Bitcoin consolidates and reinforces its dominance at these levels,” said Vikram Subburaj, CEO, Giottus.
The volume of all stablecoins is now $156.68 billion, which is 92.61% of the total crypto market 24-hour volume, as per data available on .
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, rose to $1.879 trillion. Bitcoin’s dominance is currently 57.19%, according to . BTC volume in the last 24 hours surged 139.6% to $71.3 billion.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
