The crypto market cap as of May 3, stands at $2.23 trillion
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The last few weeks have pushed Bitcoin under the price point of $60,000 (roughly Rs. 50 lakh) for the first time in two months. As of Friday, May 3, Bitcoin was trading at the price point of $57,690 (roughly Rs. 48 lakh) as per Indian exchanges. With a loss of around 0.15 percent, the value of Bitcoin on foreign exchanges stands at $59,790 (roughly Rs. 49.85 lakh). For the most part of this week, Bitcoin has found itself trading under losses after showing a major spike in April.
“This price drop suggests that there exists a buying activity at the lower level. Bitcoin has not yet recovered and gained enough strength to make a sharp move due to macroeconomic factors and geopolitical tensions, making sideways trading more likely. Resistance for Bitcoin is seen at $60,300 (roughly Rs. 50.2 lakh), with support at $58,800 (roughly Rs. 49 lakh),” Edul Patel, CEO of Mudrex told Gadgets360.
Ether, that has been showing a mixed price movement for days, found itself on the loss-side of the crypto chart on Friday. At the time of writing, ETH was priced $2,907 (roughly Rs. 2.42 lakh) after clocking a loss of 1.85 percent.
“Ethereum has witnessed a surge driven by strong spot Ethereum ETFs in Hong Kong and increased network activity. Ethereum's next resistance levels are forecasted at $3,100 (roughly Rs. 2.58 lakh) and $3,300 (roughly Rs. 2.75 lakh),” Patel added.
In the last 24 hours, the overall valuation of the crypto market went up by 3.46 percent to hit $2.23 trillion (roughly Rs. 1,85,85,957 crore), as per CoinMarketCap.
“While spot BTC ETFs saw a combined outflow of $563 million (roughly Rs. 4,692 crore) on Wednesday, BlackRock predicts that there will be a new wave of inflows from different types of investors which will include sovereign wealth funds, pension funds, and endowments. The company expects a pent-up demand for BTC exposure via the ETFs,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.
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Crypto Price Today: Bitcoin Steady at $83,000, Altcoins See Mixed Moves Amid Market Fluctuations19 March 2025
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