Crypto Price Today: Bitcoin, Ether Prices Fluctuate as Biden vs Trump Debate Skips Mention of Crypto, Analyst Says

Bitcoin is currently trading at $66,863 (roughly Rs. 55.8 lakh) on local exchanges such as WazirX and CoinSwitch.

Written by Radhika Parashar, Edited by David Delima | Updated: 28 June 2024 11:58 IST

Crypto Price Today: Bitcoin, Ether Prices Fluctuate as Biden vs Trump Debate Skips Mention of Crypto, Analyst Says

Photo Credit: Pixabay/ WorldSpectrum

The overall valuation of the crypto sector as of June 28 stands at $2.28 trillion

Highlights

Cartesi, Braintrust prices rose on Friday
Both Polygon and Cronos also saw their values rise
Prices of altcoins like Underdog and Status dropped

Bitcoin opened with a minor price loss on Friday, and the world's most widely used crypto asset is presently trading at $61,637 (roughly Rs. 51.4 lakh) on international exchanges like CoinMarketCap, after incurring a loss of 0.23 percent. On national exchanges such as WazirX and CoinSwitch however, the value of BTC stood much higher at $66,863 (roughly Rs. 55.8 lakh). Macro-economic factors have always played a vital role in setting the temperament for the crypto market on a global level. Despite expectations from crypto investors, US President Joe Biden and Donald Trump didn't mention cryptocurrencies during their televised debate on Thursday, leading to volatility on the crypto price charts and experts predict more upheaval in the coming days.

“In a notable shift, Bitcoin posted gains as optimism swelled ahead of the anticipated Biden vs. Trump debate, with investors expecting cryptocurrency to be a focal point. However, the absence of any mention of crypto during the debate has led to concerns over potential impact for Bitcoin prices, possibly dampening industry enthusiasm. Bitcoin is entrenched in oversold territory, indicating a prolonged bearish sentiment. Market analysts predict this phase of stagnation could extend for a few more weeks,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Similarly, Ether was impacted by a minor 0.09 percent drop in value on Friday. It is currently trading at $3,448 (roughly Rs. 2.87 lakh) on international exchanges and at $3,701 (roughly Rs. 3.09 lakh) on national ones, as per the Gadgets360 crypto price tracker.

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“The forthcoming launch of the Ethereum ETF on July 4 is seen as a potential game-changer, with projections of Ethereum prices climbing above $5,000 (roughly Rs. 4.17 lakh),” Menon added.

Cryptocurrencies that managed to log minor gains on Friday include Binance Coin, Dogecoin, Cardano, and Avalanche.

Solana managed to see profits of 6.24 percent on Friday – which is substantially higher than other cryptocurrencies. At the time of writing, Solana was trading at $145 (roughly Rs. 12,139).

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“With the first Solana ETF application from VanEck, the SOL ecosystem saw a collective rise and the number of traders increasing by 30 percent. SOL may become the 3rd major crypto asset after BTC and ETH to have its ETF, thanks to its recent growth. Several Solana memecoins also resulted in gains. Some of these memecois include BOME, which rose 15 percent with an 80 percent increase in traders, and WEN, which rose 15.5 percent with a 25 percent increase in traders,” said Ryan Lee, Chief Analyst at Bitget Research.

Meanwhile, cryptocurrencies that registered losses on Friday include Tron, Near Protocol, Underdog, and Status.

As per CoinMarketCap, the overall crypto market rose in valuation by 1.39 percent in the last 24 hours. With this, the market cap of the crypto sector has come to $2.28 trillion (roughly Rs. 1,90,32,984 crore).

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More