This week, the crypto market is gearing up for two key events: the upcoming FOMC meeting in the US and the launch of the Donald Trump-backed crypto platform, World Liberty Financial. Amid these developments, Bitcoin showed slight declines on Monday, September 16, with losses of 0.12 percent on Indian exchanges and 1.59 percent on international platforms. Currently, the world's oldest and most valuable cryptocurrency is trading at $58,407 (roughly Rs. 49 lakh) globally, after briefly surpassing the $60,000 (roughly Rs. 50.3 lakh) mark over the weekend. On Indian exchanges, Bitcoin is trading at $62,053 (roughly Rs. 52 lakh).
"Bitcoin dropped after what the FBI said ‘appears to be an attempted assassination' on Donald Trump, leading to over $116 million (roughly Rs. 973 crore) in liquidations. All eyes now turn to the Fed's interest rate decision, with markets split between a 25 and 50 bps rate cut,” Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets360.
Ether registered losses of around five percent on both national and international exchanges in the last 24 hours. The value of ETH presently stands within the range of $2,279 (roughly Rs. 1.91 lakh) and $2,289 (roughly Rs. 1.92 lakh).
As shown by Gadgets360's crypto price tracker on Monday, Ripple and Cardano also joined BTC and ETH in seeing losses. Avalanche, Chainlink, Polkadot, and Litecoin also saw price dips.
Losses also struck Stellar, Cronos, Cosmos, Polygon, Bitcoin SV, Elrond, and Zcash.
The overall crypto market cap dropped by 3.14 percent in the last 24 hours, as per CoinMarketCap. At the time of writing, the global crypto market valuation has come to $2.03 trillion (roughly Rs. 1,70,32,400 crore).
Meanwhile minor profits were recorded by Binance coin, Solana, Dogecoin, Shiba Inu, Leo, Near Protocol, Binance USD, and Monero on Monday.
“Despite short-term fears, analysts remain optimistic. The Fear and Greed Index indicates that extreme fear could present a buying opportunity, suggesting a bright future for Bitcoin, Solana, and the broader crypto market,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
