Crypto Price Today: Bitcoin-Led Crypto Market Sees Increased Volatility

BTC is presently trading at $58,407 (roughly Rs. 49 lakh) on foreign exchanges.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 16 September 2024 13:22 IST

Crypto Price Today: Bitcoin-Led Crypto Market Sees Increased Volatility

Photo Credit: Unsplash/ Viktor Forgacs

The global crypto market valuation hit $2.03 trillion in the last 24 hours

Highlights

Cardano, Avalanche saw losses
Cosmos, Polygon recorded price dips
Binance USD saw gains

This week, the crypto market is gearing up for two key events: the upcoming FOMC meeting in the US and the launch of the Donald Trump-backed crypto platform, World Liberty Financial. Amid these developments, Bitcoin showed slight declines on Monday, September 16, with losses of 0.12 percent on Indian exchanges and 1.59 percent on international platforms. Currently, the world's oldest and most valuable cryptocurrency is trading at $58,407 (roughly Rs. 49 lakh) globally, after briefly surpassing the $60,000 (roughly Rs. 50.3 lakh) mark over the weekend. On Indian exchanges, Bitcoin is trading at $62,053 (roughly Rs. 52 lakh).

"Bitcoin dropped after what the FBI said ‘appears to be an attempted assassination' on Donald Trump, leading to over $116 million (roughly Rs. 973 crore) in liquidations. All eyes now turn to the Fed's interest rate decision, with markets split between a 25 and 50 bps rate cut,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets360.

Ether registered losses of around five percent on both national and international exchanges in the last 24 hours. The value of ETH presently stands within the range of $2,279 (roughly Rs. 1.91 lakh) and $2,289 (roughly Rs. 1.92 lakh).

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As shown by Gadgets360's crypto price tracker on Monday, Ripple and Cardano also joined BTC and ETH in seeing losses. Avalanche, Chainlink, Polkadot, and Litecoin also saw price dips.

Losses also struck Stellar, Cronos, Cosmos, Polygon, Bitcoin SV, Elrond, and Zcash.

The overall crypto market cap dropped by 3.14 percent in the last 24 hours, as per CoinMarketCap. At the time of writing, the global crypto market valuation has come to $2.03 trillion (roughly Rs. 1,70,32,400 crore).

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Meanwhile minor profits were recorded by Binance coin, Solana, Dogecoin, Shiba Inu, Leo, Near Protocol, Binance USD, and Monero on Monday.

“Despite short-term fears, analysts remain optimistic. The Fear and Greed Index indicates that extreme fear could present a buying opportunity, suggesting a bright future for Bitcoin, Solana, and the broader crypto market,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, 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, Qutm, Wrapped Bitcoin, Zcash

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