Crypto Price Today: Bitcoin Trades at $69,000, Market Volatility Surges Amid US Elections

On Monday, BTC was trading at $69,050 (roughly Rs. 58 lakh) on foreign exchanges.

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 4 November 2024 12:53 IST

Crypto Price Today: Bitcoin Trades at $69,000, Market Volatility Surges Amid US Elections

Photo Credit: Pexels/ Rodnae Productions

The market capitalisation of the digital asset sector stands at over $2.25 trillion

Highlights

Elrond, Stellar saw gains
Uniswap, Cronos saw losses
Profits also struck Braintrust and Ardor

As the US prepares to elect its 47th President on November 5, volatility has noticeably increased across investment markets, including stocks and crypto. Bitcoin on Monday, November 4 saw a minor profit of under one percent on both national and international exchanges. At the time of writing, BTC was trading at $69,050 (roughly Rs. 58 lakh) on foreign exchanges, as per CoinMarketCap. On Indian exchanges like CoinSwitch and Giottus, meanwhile, the asset is priced at $70,168 (roughly Rs. 59 lakh).

“While the world is waiting for the result of the US presidential elections, It is worth noting that the number of transactions on the Bitcoin network on a monthly basis has already reached its all-time high in October, surpassing the 20 million mark. Even though Bitcoin is so close to its all-time highs and has crossed 60 percent dominance in the market (the first time in close to four years),” the CoinSwitch markets desk told Gadgets360 commenting on the markets.

Ether reflected a price drop of 0.28 percent in the last 24 hours. On foreign exchanges, ETH is trading at $2,465 (roughly Rs. 2.07 lakh) as per CoinMarketCap. On Indian exchanges, ETH is priced $2,756 (roughly Rs. 2.31 lakh).

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Presently, Tether, Binance Coin, and Solana recorded price drops alongside Dogecoin, Cardano, Shiba Inu, and Avalanche.

Other cryptocurrencies that logged losses on Monday include Chainlink, Bitcoin Cash, Polkadot, Leo, Litecoin, Near Protocol, and Uniswap -- as per the crypto price tracker by Gadgets360.

The overall valuation of the crypto sector dipped by two percent in the last 24 hours. Currently, the market cap of the digital assets sector is around $2.25 trillion (roughly Rs. 1,89,18,641 crore), showed CoinMarketCap.

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USD Coin, Ripple, Tron, Monero, and Stellar managed to hold onto minor profits on Monday.

Ardor, Braintrust, Elrond, and Circuits of Value also registered minor gains.

“Although technical charts suggest momentum is building, investors' reaction to the election outcome is expected to be the key driver of rice action,” Edul Patel, CEO Of Mudrex told Gadgets360.

In the days ahead, crypto insiders anticipate market fluctuations driven by the US election results and an upcoming Federal Reserve policy meeting later this week.

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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