Bitcoin on Wednesday, March 26 reflected small profits on the price charts. With a gain of 1.05 percent, the asset rose to $87,375 (roughly Rs. 75 lakh) on international exchanges in the last 24 hours. Meanwhile, on Indian exchanges, Bitcoin price saw less than one percent gain to trade within the range of $87,990 (roughly Rs. 75.4 lakh) and $90,197 (roughly Rs. 77.3 lakh). Majority altcoins reflected profits on Wednesday. We could see the trend continue in April, which has historically been a strong month for Bitcoin with an average monthly gain of 13 percent, market analysts say.
“Bitcoin and other altcoins continue to trade within the gained levels, suggesting a potential upswing in the coming days. The global trading volume, however, has been slashed by over 11 percent — suggesting less participation. However, the market sentiments remain unchanged as the traders seem to be passively waiting for the next price action, suggesting the crypto bull run may revive soon,” the CoinDCX research team told Gadgets 360.
Ether joined BTC to rope-in profits on Wednesday. Ether grew by 0.28 percent in value to trade at $2,050 (roughly Rs. 1.75 lakh) on global exchanges. The asset also logged miniscule gains of under one percent on Indian exchanges. Presently, ETH is trading within $2,066 (roughly Rs. 1.77 lakh) and $2,355 (roughly Rs. 2.01 lakh).
“ETH has been trading in a downtrend, forming a ‘Descending Channel’ pattern. This reflects strong selling pressure outweighing buying interest. If the price breaks, closes, and stays above this level, we can expect a further rally up to $2,500 (roughly Rs. 2.15 lakh),” said the ZebPay Trade Desk.
The crypto price tracker by Gadgets 360 reflected more gains than losses on Wednesday.
The altcoins that registered profits include Ripple, Solana, Dogecoin, Cardano, Avalanche, Stellar, Shiba Inu, and Litecoin.
Cronos, Bitcoin SV, Iota, Polygon, Status, Braintrust, Cartesi, and Ardor also emerged on the profit-side of the price charts.
The overall crypto market cap rose by 0.76 percent over the last 24 hours. At present, the valuation of the sector stands at $2.86 trillion (roughly Rs. 2,45,24,347 crore), CoinMarketCap shows.
“Market remains optimistic, as analysts at Bernstein project highlighted that the overall cryptocurrency market capitalisation could surge threefold to $7.5 trillion (roughly Rs. 6,43,31,625 crore) by the end of 2025, driven by unprecedented institutional adoption,”
Tether, Binance Coin, Leo, and Uniswap meanwhile, registered losses on Wednesday.
Monero, Cosmos, EOS Coin, and Elrond also underwent price correction over the last 24 hours.
“Investors are closely monitoring whether BTC will maintain momentum or face a pullback. As Bitcoin becomes stable, altcoins such as Dogecoin are attracting the attention of traders,” said Avinash Shekhar, Co-Founder and CEO of Pi42.
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