Crypto Price Today: Bitcoin Price Above $33,000, Most Popular Altcoins See Small Losses

The value of BTC has risen by $327 (roughly Rs. 27,165) over the last day despite seeing a small loss today.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 25 October 2023 11:20 IST

Crypto Price Today: Bitcoin Price Above $33,000, Most Popular Altcoins See Small Losses

Photo Credit: Pexels/ Rodnae Productions

The crypto market cap, as of October 25, stands at $1.25 trillion

Highlights

Elrond, Bitcoin SV saw losses
Decentraland, New Coin recorded small gains
Shiba Inu, Dogecoin noted price dips

Bitcoin stepped into Wednesday, October 10, with a loss of 2.04 percent. The value of Bitcoin, despite the loss, stands at $33,950 (roughly Rs. 28 lakh) retaining its 16-month high trading value. While the crypto market has seen some volatility over the last day, the value of BTC has risen by $327 (roughly Rs. 27,165). The instability in the trading arena, however, has impacted most other cryptocurrencies. All top ten cryptocurrencies by market valuation are trading in the reds today.

Ether clocked a loss of 1.39 percent on Wednesday. The asset, at the time of writing, was trading at the price point of $1,788 (roughly Rs. 1.48 lakh). In the last 24 hours, the value of ETH did reduce by $25 (roughly Rs. 2,076).

“This dip could be linked to the temporary removal of BlackRock's (BLK) spot Bitcoin ETF ticker, IBTC, from the Depository Trust & Clearing Corporation's (DTCC) website. However, it's important to note that the ticker was relisted after a few hours,” the CoinDCX research team told Gadgets360.

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“From a technical perspective, both BTC and ETH are trading above the 50-day and 200-day Exponential Moving Averages (EMA-D) and are currently consolidating after their recent upward momentum. While ETH faces a few resistance levels to clear for its uptrend, BTC is showing strength as it reaches a 52-week high.”

Cryptocurrencies that recorded losses alongside BTC and ETH today include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Litecoin, and Polygon.

Polkadot, Shiba Inu, Avalanche, Stellar, and Monero are also trading in the reds today.

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The overall valuation of the crypto sector, that presently stands at $1.25 trillion (roughly Rs. 1,03,89,187 crore), saw a slight slip of 0.92 percent in the last 24 hours, showed CoinMarketCap.

Meanwhile, some cryptocurrencies did manage to record profits today.

These include Tether, USD Coin, Leo, Binance USD, Cronos, and Near Protocol among other underdog cryptocurrencies.

Until the US takes a final call on whether to approve BTC ETFs, the crypto market volatility is expected to remain prevalent. For now, the expectations that BTC ETFs could get the approval in the US have kept the market participants excited.

“The US Securities and Exchange Commission (SEC) appears to be adopting a more favourable stance toward Crypto ETFs, a shift that has been met with enthusiasm by institutional investors. This newfound openness has sparked hopes of an impending bull market. However, the timing of such a market shift remains uncertain and may be too early to predict with absolute certainty,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

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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