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NRIPage | Articles | Bitcoin and Ether See Gains as Crypto Market Rises | Get Indian Desi Latest Sports News & Updates in USA. Stay Ahead in Sports & Gaming Action - NRI Page
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Bitcoin and Ether See Gains as Crypto Market Rises

Bitcoin and Ether See Gains as Crypto Market Rises

On January 3, 2025, the cryptocurrency market continued its positive momentum, reflecting profits for the third consecutive day. Bitcoin (BTC) witnessed a 1.82% increase in its price on international exchanges, reaching $96,863 (around Rs. 83.05 lakh). On Indian exchanges, Bitcoin saw a slightly higher price of $97,042 (roughly Rs. 83.2 lakh), marking a 2.28% price surge.

Investor sentiment around Bitcoin remains optimistic, with the Fear-Greed Index indicating a rise in market confidence. The total 24-hour trading volume for Bitcoin surged by 57.3%, reaching $131.74 billion (around Rs. 11.29 lakh crore), suggesting greater participation from both retail investors and institutions. BTC faces resistance at $98,400 (roughly Rs. 84.3 lakh) and support at $95,000 (around Rs. 81.4 lakh), according to Edul Patel, CEO of Mudrex.

Ether (ETH) also posted a 2.05% increase on international exchanges, bringing its price to $3,460 (around Rs. 2.96 lakh). Indian exchanges like CoinSwitch and CoinDCX reported the price of ETH at $3,711 (around Rs. 3.18 lakh). Despite trading below the crucial $3,500 mark, Ether saw record ETF inflows in December, nearing $2 billion (roughly Rs. 17,145 crore), double the amount of November's inflows.

The broader cryptocurrency market saw an overall valuation rise of 2.03%, bringing the market cap to $3.41 trillion (around Rs. 2,92,29,974 crore). While Bitcoin and Ether continue to show strong gains, some cryptocurrencies, including Binance Coin, Litecoin, Cronos, EOS Coin, and Zcash, experienced losses.

Despite regulatory pressures and market instability, experts believe the current market trends, including bullish patterns like the ascending triangle, point to a crucial recovery phase for Ethereum in 2025. This period is expected to contribute to increased adoption, driven by technological advancements and renewed investor optimism.

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