Crypto Price Today: Bitcoin Recoils to $42,000 Mark as Profits Rain Over Majority Crypto Assets

Bitcoin jumped in pricing by $1,077 (roughly Rs. 89,524) over the last day.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 19 December 2023 12:00 IST

Crypto Price Today: Bitcoin Recoils to $42,000 Mark as Profits Rain Over Majority Crypto Assets

Photo Credit: Pixabay/ Dean Crosby

The crypto market valuation, as of December 19, stands at $1.61 trillion

Highlights

Ripple, Solana saw gains
USD Coin, Cardano also recorded profits
Gas, Qtum, SushiSwap saw losses

The overall crypto chart appeared lush with greens as most cryptocurrencies saw gains on Tuesday, December 19. Bitcoin, for instance, rose in value by 4.75 percent in the last 24 hours. At the time of writing, the value of Bitcoin stood at $42,072 (roughly Rs. 35 lakh). This means, that the crypto asset saw a price jump of $1,077 (roughly Rs. 89,524) over the last day. This price spike for Bitcoin is significant after the asset underwent a period of loss-ridden price correction recently.

Ether's price jumped by 3.15 percent as the asset tailed behind Bitcoin on the profit-making side of the crypto market. Ether is presently trading at $2,235 (roughly Rs. 1.85 lakh). Over the las day, ETH rose price-wise by $65 (roughly Rs. 5,403).

“In a resurgence for the crypto market following a short correction, both Bitcoin and Ethereum have witnessed gains of 4.84% and 2.92%, respectively, in the last 24 hours. The rally is potentially fuelled by Galaxy Digital's commitment to revive collapsed crypto projects, including FTX,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

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Majority cryptocurrencies clocked notable profits on Tuesday. These include Binance Coin, Ripple, Solana, and Cardano.

Other profit-making cryptocurrencies include Avalanche, Dogecoin, Polkadot, Tron, Polygon, Chainlink, Shiba Inu, Litecoin, Bitcoin Cash, Uniswap, and Stellar.

The overall crypto market cap rose by 3.91 percent in the last 24 hours. It currently stands on the mark of $1.61 trillion (roughly Rs. 133,95,111 crore), as per CoinMarketCap.

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As per market analysts, imminent bull run and heightened anticipation surrounding the Bitcoin ETF, has kept trader sentiments positive, further boosting the prices of these digital assets.

“The crypto heavy weights continue to ride the ETF approval wave and growing optimism around the potential of digital assets. In the altcoin space, Solana is leading the rally with a surge of over seven percent in 24 hours as the adoption of the Solana blockchain picks pace,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Only a small number of altcoins recorded losses. These include Qtum, SushiSwap, Braintrust, Ardor, and Underdog.

“A month after Binance and CZ pleaded guilty to violating US' anti-money laundering guidelines, a federal judge has now approved the settlement between Commodity Futures Trading Commission (CFTC) and Binance. However, it is yet to be seen whether the Binance ex-CEO CZ will have to face some jail time or not alongside the fine,” the CoinSwitch market desk 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