Today's Cryptocurrency Price: Most Altcoins See Losses, While Bitcoin and Ether See Minor Gains
On national and international markets, BTC is currently trading between $58,502 (about Rs. 49 lakh) and $63,321 (approximately Rs. 53 lakh).
Analysts claim that the current state of the cryptocurrency market is characterized by tremendous concern due to geopolitical tensions, political disputes, and other macroeconomic variables that are causing volatility. The majority of cryptocurrencies saw losses on August 12, Monday. The most costly cryptocurrency, bitcoin, showed a slight increase of 0.91 percent on the price chart, bringing its trading value to a range of $58,502 (about Rs. 49 lakh) to $63,321 (approximately Rs. 53 lakh) on both domestic and foreign exchanges.
The cryptocurrency market fell over the weekend. Given that the price of bitcoin has been consolidating for the past five months, a big breakthrough may be approaching. To go towards a range high of $71,000 (about Rs. 56.2 lakh), Bitcoin must break over $67,000. This week is expected to be volatile, particularly with the release of the US PPI and CPI data,” the CoinDCX market desk told Gadgets360.
In the past day, Ether enjoyed a tiny 1.50 percent gain. As of the time of writing, the value of Ethereum was $2,420, or around Rs. 2.03 lakh, according to Gadgets360's cryptocurrency price tracker.
On Monday, just a small number of cryptocurrencies were able to lag behind Bitcoin and Ethereum on the green side of the chart. These consist of Shiba Inu, Dogecoin, Tron, Solana, and USD Coin.
"The broader market is under pressure with the crypto marking seeing liquidations worth $156.5 million (roughly Rs. 1,313 crore) in the last 24 hours," Pi42 CEO and co-founder Avinash Shekhar stated in an interview with Gadgets360. Since these kinds of declines typically precede larger rallies in the market, we advise traders to exercise prudence and use less leverage.
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