The cryptocurrency market sustained its upward trajectory over the final weekend of November. On Monday, November 25, Bitcoin recorded a 1.42 percent increase in value on international exchanges compared to the previous day. At the time of writing, BTC was priced at $98,095 (approximately Rs. 82.6 lakh) on global platforms. In contrast, Indian exchanges like CoinSwitch and Giottus reflected a slight dip of less than one percent, with Bitcoin trading at $98,280 (roughly Rs. 82.8 lakh). Despite these minor fluctuations, Bitcoin continues to exhibit strong performance.
“Despite this setback, Bitcoin has shown resilience, up nearly 44 percent since early November. Investors suggest that this dip may present a buying opportunity, especially for undervalued utility tokens. Investors predict potential peaks for Bitcoin in mid-2025 with its momentum looking towards reaching the $100,000 (roughly Rs. 84.2 lakh) milestone. As investors digest these fluctuations, attention will likely shift towards potential rebounds in the altcoin sector and broader market stabilisation in the coming days,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.
Ether registered a gain of 0.19 percent internationally. At the time of writing, ETH was priced $3,390 (roughly Rs. 3.85 lakh) on global platforms, as shown by CoinMarketCap. As per Indian exchanges, ETH witnessed a price dip of 3.29 percent. Presently, ETH is trading at $3,345 (roughly Rs. 2.82 lakh) on national exchanges.
“The market structure continues to be bullish for the top crypto asset though a profit-taking led decline can't be ruled out this week. Key altcoins have experienced three-seven declines today Cardano and Polkadot dipping the most among top layer one coins,” Vikram Subburaj, CEO, Giottus told Gadgets360.
The crypto price tracker by Gadgets360 showed that Tether, Solana, Ripple, Dogecoin, and Cardano registered losses.
Tron, Avalanche, Stellar, and Shiba Inu are also trading in price dips.
“While some analysts foresee a potential correction, others remain optimistic about the market's upward trajectory. Current geopolitical tensions, particularly the escalating Russia-Ukraine conflict, should be closely monitored, as they may impact market sentiment and broader financial conditions,” the CoinSwitch markets desk told Gadgets360.
Binance Coin, Chainlink, Uniswap, EOS Coin, Iota, and SushiSwap are altcoins trading in minor gains on Monday.
The overall crypto market cap slipped by 0.77 percent in the last 24 hours with most altcoins being volatile. The market cap of the sector presently stands at $3.33 trillion (roughly Rs. 2,80,71,228 crore) as per CoinMarketCap.
