Bitcoin price crosses $92,000 to record high, Ethereum follows suit
Amid the ongoing crypto rally, the price of Bitcoin has risen slightly over the past 48 hours, while the prices of most altcoins have also risen. On Wednesday, the price of Bitcoin rose by less than one percent on national and international exchanges. At the time of writing, BTC was trading at $92,425 (approximately Rs. 78 lakh) on international exchanges, according to CoinMarketCap. In India, Bitcoin currently costs $93,440 (approximately Rs. 78.8 lakh). In the backdrop of the price surge, MicroStrategy’s Michael Saylor said he plans to pitch Microsoft on adding Bitcoin to its coffers, arguing it would increase the company’s stability and reduce risk.
“Options trading on Blackrock’s iShares Bitcoin Trust began yesterday and approximately 98 percent of all options are ‘call’ orders to buy BTC, indicating bullish sentiment. Bitcoin spot ETFs have reversed their recent outflows and have registered $850 million (approximately Rs. 7,172 crore) in net inflows over the past two days,” Giottus CEO Vikram Subburaj said in a statement to Gadgets360.
The price of Ether rose by 0.28 percent on foreign exchanges on Wednesday. The price has now reached $3,110 (approximately Rs. 2.62 lakh) internationally. According to Gadgets360 crypto price tracker, the price of ETH in India is $3,187 (approximately Rs. 2.69 lakh).
In addition to BTC and ETH, altcoins such as Dogecoin, USD Coin, Cardano, Wrapped Bitcoin, Cronos and Monero also saw their prices rise.
Other altcoins that saw a slight price increase include Floki Inu, Underdog, Iota, Braintrust and Binance USD.
The total cryptocurrency market capitalization grew by 0.24 percent in the past 24 hours CoinMarketCap. This increased the sector’s valuation to $3.08 trillion (approximately Rs. 2,59,88,824 crore).
On the other hand, Tether, Solana, Binance Coin, Ripple, Tron, Shiba Inu and Avalanche and other altcoins that recently rose in value saw a slowdown on Wednesday.
“This market rally was fueled by reports that Donald Trump’s social media company was in talks to acquire crypto trading firm Bakkt, leading to optimism about a more crypto-friendly environment under the incoming Trump administration. The introduction of options trading for BlackRock’s iShares Bitcoin Trust ( IBIT) is a new milestone, potentially boosting liquidity and giving investors more ways to gain exposure to the assets. This development represents a critical turning point in Bitcoin’s evolution and highlights growing institutional interest and a shift in market dynamics,” CoinDCX said. Co-founder Sumit Gupta told Gadgets360.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information contained in this article is not intended to be 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 based on any perceived recommendation, forecast or any other information contained in the article.
