Crypto Price Today: Bitcoin Breaches $40,000 Mark, Attains 2023’s Highest Price Followed by Volatile Altcoins

At present, Bitcoin’s market dominance stands at 52.4 percent, as per CoinMarketCap.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 4 December 2023 12:45 IST

Crypto Price Today: Bitcoin Breaches $40,000 Mark, Attains 2023’s Highest Price Followed by Volatile Altcoins

Photo Credit: Pexels/ Rodnae Productions

The crypto market cap currently stands at its yearly high of $1.52 trillion

Highlights

Binance Coin, Solana recorded losses
While Dogecoin saw losses, Shiba Inu recorded small gains
Polygon and Litecoin saw gains

Bitcoin on Monday, December 4 reflected a profit of 2.66 percent on the crypto price chart. With this, the value of the most expensive cryptocurrency reached $40,578 (roughly Rs. 33.7 lakh), its highest price point for the year of 2023. Over the weekend, Bitcoin rose in value by $2,854 (roughly Rs. 2.37 lakh). At present, Bitcoin's market dominance stands at 52.4 percent, as per CoinMarketCap. Despite its rally, Bitcoin failed to uplift most other cryptocurrencies listed on the chart.

Ether noted a gain of 2.53 percent on Monday. At the time of writing, the value of ETH stood at $2,214 (roughly Rs. 1.84 lakh). Over the weekend, Ether price spiked by $125 (roughly Rs. 10,400).

“Bitcoin has reached its highest price point so far since April 2022 for the first time. Traders are expected to be cautious to book profits as historically, December usually marks local top/bottom for crypto,” the CoinSwitch markets desk told Gadgets360.

Other cryptocurrencies that are trading in the gains today include Ripple, Cardano, Tron, Polygon, and Litecoin.

Minor profits were also clocked by Shiba Inu, Bitcoin Cash, Cosmos, Stellar, Near Protocol, and Elrond.

“This price movement results from bullish market sentiment and anticipation of positive developments in 2024 regarding a Bitcoin Spot ETF in the US and the upcoming Bitcoin halving. Bitcoin's price has grown by over 140 percent since the beginning of the year,” Edul Patel,Co-Founder and CEO, Mudrex.

The overall crypto market cap rose by 2.76 percent in the last 24 hours to presently sit on the valuation of $1.52 trillion (roughly Rs. 1,26,64,906 crore), as per CoinMarketCap. This makes for the highest valuation that the crypto market has touched this year.

Meanwhile, cryptocurrencies that are trading in the losses today include Tether, Binance Coin, Solana, USD Coin, Dogecoin, Chainlink, and Avalanche.

“With expectations of a forthcoming rate cut and growing confidence in Bitcoin ETF applications, traders are actively placing top-side options, betting on Bitcoin's potential ascent to $45,000 by March 2024,” 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