Bitcoin opened Tuesday with a small gain of 1.42 percent but remained rangebound. The current value of BTC stands at $17,150 (roughly Rs. 14,000) after rising slightly from yesterday’s price of $16,875 (roughly Rs. 13.9,000). On international exchanges like Binance and CoinMarketCap, BTC posted gains of up to 1.95 percent and traded at $17,165 (about 14 lakh). The element of volatility continues to outshine all other aspects of the digital asset sector given the ongoing market downturn. Meanwhile, altcoins that posted losses on Monday posted gains a day later.
In the meantime, ether also saw gains on Tuesday. Appreciating 1.94 percent, ETH is priced at 1,266 lakh (roughly 1.04 lakh). Crypto price tracker by Gadgets 360 indicates.
“With BTC and ETH trading in a tight range, volatility is expected in the coming days on key macro events including the release of US CPI data followed by the FOMC press conference scheduled for Dec. 14,” das said CoinDCX research team to Gadgets 360.
Other coins that posted gains on Tuesday were included tether, USD coin, Cardano along with polygon, Litecoinand Solana.
Dogecoins and Shiba Inu also rose on Tuesday.
In the last 24 hours, the overall crypto market grew by 0.85 percent. The digital assets industry is valued at $848.33 billion CoinMarketCap.
Few altcoins saw losses on Tuesday. These include Cardano, Speckle, Tron, chain linkand cosmos.
“According to Coinglass derivatives data, 32,030 traders were liquidated in the last 24 hours, of which 85 percent were long traders and 15 percent were short traders. Additionally, the net unrealized gain and loss (NUPL), which tracks the on-chain drawdown for addresses that have been holding bitcoin for at least five months, has shown a current level of -0.3, down only four times historically has occurred that represent incredible buying opportunities,” added the CoinDCX research team.
That crypto market entered the prolonged period of uncertainty and volatility post-crypto exchanges FTX suffered from a liquidity crisis and collapsed last month.
Over a month since FTX filed for bankruptcy, its CEO has been Sam Bankman-Fried arrested in the Bahamas at the request of the US government.
Elon Muskhas now started take action against the bots exposing unsuspecting people to financial risks on Twitter, including cryptocurrency scams.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to and does not constitute financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment made on an accepted recommendation, forecast or other information contained in this article.
