A red-soaked crypto price chart on Monday, October 3 indicated that the digital asset sector is entering a new month plagued by volatility. Bitcoin opened trading at $19,183 (roughly Rs. 15.60 lakh) on Monday, with a loss of nearly one percent, according to Gadgets 360’s crypto price tracker. Bitcoin also suffered losses on international exchanges. As indicated by Binance and CoinMarketCap, BTC values fell by around 0.90 percent. Globally, BTC is trading at around $19,199 (roughly Rs. 15.70 lakh).
“Bitcoin could not hold above the $20,000 (roughly Rs. 16 lakh) level last week due to lack of buying activity. Volatility in BTC has increased in recent weeks, as market participants have reacted to rising inflation and fluctuations in the US dollar,” Edul Patel, CEO and co-founder of Mudrex crypto investment platform, told Gadgets 360.
Ether recorded slightly higher losses than Bitcoin. According to Gadgets 360’s crypto price tracker, ETH is currently trading at a price of $1,292 (roughly Rs. 1.05 lakh).
Most altcoins fell, including Tether, Ripple, Binance USD, Cardano, and Solana.
Dogecoin and Shiba Inu also failed to buck the market downturn and suffered losses.
“If BTC can break its resistance at $20,433 (approx. Rs. 16.60 lakh), we may see an uptrend this week,” predicted Patel.
Meanwhile, only a handful of cryptocurrencies made marginal gains.
These include Binance Coin, Polygon, Tron and LEO.
Meanwhile, the crypto sector’s market cap remains below the trillion-dollar mark.
The crypto market capitalization currently stands at $927.52 billion (approx. Rs. 75,63,501 crore), down 0.95 percent from the last day.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not and is not intended to constitute financial advice, business advice or any kind of advice or recommendation offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendations, estimates or any other information contained in the article.
