Bitcoin Price Drops for Third Consecutive Day Alongside Ether and Most Altcoins

Bitcoin's price fell by 0.65 percent on global exchanges, and the digital asset was trading at $93,724 (roughly Rs. 80 lakh) on Friday.

Written by Radhika Parashar, Edited by David Delima | Updated: 10 January 2025 12:57 IST

Bitcoin Price Drops for Third Consecutive Day Alongside Ether and Most Altcoins

Photo Credit: Unsplash/ Viktor Forgacs

The market cap of the crypto sector currently stands at $3.27 trillion

Highlights

Polkadot, Bitcoin Cash saw losses
Avalanche and Chainlink are also trading in dips
Shiba Inu managed to retain minor gains

Bitcoin saw a small dip in its value on Friday, as the price of the world's most popular digital asset fell by 0.65 percent on global exchanges. According to data by CoinMarketCap, the value of Bitcoin has come to $93,724 (roughly Rs. 80 lakh), according to data by CoinMarketCap. Indian exchanges like Giottus and CoinSwitch showed BTC's price decline by over four percent. At the time of writing, BTC was trading at $99.007 (roughly Rs. 85 lakh). Other altcoins also saw their values fall alongside Bitcoin.

“Bitcoin is trading range-bound as investors remain cautious. While BTC and other major tokens show strong resilience near the support levels, bulls must step in to see some price action. Investors are now eyeing the December jobs report due later today to decide the market momentum. Bitcoin faces resistance at the $95,900 (roughly Rs. 82.3 lakh) level while strong support lies at the previous low of $91,200 (roughly Rs. 78.3 lakh),” Edul Patel, CEO Of Mudrex told Gadgets 360.

Ether's price also dropped on Friday, just like Bitcoin on Friday. On global exchanges, ETH price dropped by 0.19 percent, bringing its price point to $3,244 (roughly Rs. 2.78 lakh). On Indian exchanges, the asset price dipped by 2.67 percent to trade at $3,386 (roughly Rs. 2.90 lakh).

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The crypto market is going through a volatile period and market experts have advised investors to tread with caution. The crypto price tracker by Gadgets 360 showed most altcoins trading at lower values on Friday.

Solana, Binance Coin, Dogecoin, Cardano, Avalanche, and Polkadot saw their prices drop, like BTC and ETH.

Similarly Leo, Stellar were also trading at lower prices.

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The overall valuation of the crypto market tumbled by 1.06 percent over the past 24 hours. With this, the market cap dropped to $3.27 trillion (roughly Rs. 2,80,83,577 crore), as per CoinMarketCap data.

On the other hand, Shiba Inu, Uniswap, and Litecoin managed to retain minor profits.

“These dips are buying opportunities for the investors as the historical trends suggests such fluctuations are preceded by potentially significant rallies. This period therefore is very important and investors should keep their eyes on the long haul, rather than on the short-term profits,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360, claiming that the next major moves are likely to be dictated by key support and resistance levels across these assets.

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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