The broader crypto market appears to have again closely followed the price action of global equity markets, with values slightly lower despite a strong performance on Wednesday evening. Bitcoin has fallen by 2.34 percent in the last 24 hours and is now priced above $23,400 (Rs. 18.64 lakh approx) on global exchanges, while Indian exchange CoinSwitch Kuber BTC is valued at $25,313 (Rs. 20.16 lakh approx) ), down 2.32 percent in the last 24 hours. less On global exchanges like CoinMarketCap, Coinbase and Binance, Bitcoin is valued at $23,444 (approx. Rs. 18.67 lakh), while CoinGecko data The value of BTC shows that it is currently 2.1 percent lower than last Thursday.
Ether shared a similar plight while chasing $2,000 (Rs 1.59 lakh approx). At the time of publication, Ether is valued at $1,964 (roughly Rs. 1.56 lakh) on CoinSwitch Kuber, while the global exchanges crypto is valued at $1,850 (roughly Rs. 1.47 lakh), down 2.72 percent in the last 24 hours.
Ether’s exposure over the course of the week has seen the cryptocurrency’s value almost in the red 0.2 percent Compared to its value last Thursday, according to CoinGecko data.
Gadgets 360’s cryptocurrency price tracker showed that most of the major altcoins saw gains mid-week, with any well-known altcoins marking gains. Global crypto market capitalization fell 3.09 percent between Wednesday and early Thursday.
Polygon, Polkadot, Uniswap, Cosmos, Solana, Monero, Cardano, Cosmos, Avalanche, and BnB all saw a drop in value in the past 24 hours.
Memecoins Shiba Inu and Dogecoin also followed the altcoin mix with dips to show for the day. Dogecoin is currently valued at $0.09 (approx. Rs. 7.6) after losing some 7.26 percent value in the last 24 hours, while Shiba Inu is valued at $0.000016 (approx. Rs. 0.001291), down 2.05 percent from the previous day.
“Open interest for Ethereum options crossed $8.2 billion (approx. Rs. 65,318.5 crore) as it edged up to $5.4 billion (approx. Rs. 43,013 crore) over Bitcoin, as derivatives traders placed directional clear bets on Ethereum ahead. Merger on September 19 is planned. However, options market analysis suggests that Ethereum’s merger may be a ‘buy rumour, sell news event that has mismatches between cold wallets without an equivalent increase in withdrawals from exchanges. Expectations between price movements and on-chain activity,’ CoinDCX The research team tells Gadgets 360.
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