Crypto price today: Bitcoin, Ether prices fluctuate as Biden vs Trump debate doesn’t mention crypto, says analyst

Date:

Bitcoin opened with a slight decline on Friday, and the world’s most widely used crypto asset is currently trading at $61,637 (roughly Rs. 51.4 lakhs) on international exchanges like CoinMarketCap, registering a loss of 0.23 percent. However, on national exchanges like WazirX and CoinSwitch, BTC was valued much higher at $66,863 (roughly Rs. 55.8 lakhs). Macro-economic factors have always played a key role in creating the environment for the crypto market globally. Despite crypto investors’ hopes, US Presidents Joe Biden and Donald Trump did not mention cryptocurrencies during their televised debate on Thursday, leading to volatility on crypto price charts and experts predict more turmoil in the days to come.

“In a notable shift, Bitcoin registered gains as optimism grew ahead of the anticipated Biden vs Trump debate, with investors expecting cryptocurrencies to be the focal point. However, the lack of any mention of crypto during the debate has raised concerns over the potential impact on Bitcoin prices, which could dampen the industry’s enthusiasm. Bitcoin remains stuck in the oversold zone, indicating prolonged bearish sentiment. Market analysts anticipate that this period of stagnation could continue for a few more weeks,” Rajagopal Menon, Vice President at WazirX, told Gadgets360.

Similarly, Ether declined marginally by 0.09 per cent in value on Friday. According to the Gadgets360 crypto price tracker, it is currently trading at $3,448 (roughly Rs. 2.87 lakhs) on international exchanges and $3,701 (roughly Rs. 3.09 lakhs) on national exchanges.

“The upcoming launch of the Ethereum ETF on July 4 is seen as a potential game-changer, with Ethereum prices anticipated to climb above $5,000 (roughly Rs. 4.17 lakhs),” Menon said.

Cryptocurrencies that registered minor gains on Friday included Binance Coin, Dogecoin, Cardano, and Avalanche.

On Friday, Solana saw a gain of 6.24 percent – which is quite high compared to other cryptocurrencies. At the time of writing, Solana was trading at $145 (roughly Rs. 12,139).

“With the first Solana ETF application from Vaneck, the SOL ecosystem saw collective growth and a 30 percent increase in the number of traders. Due to the recent surge, SOL could become the third major crypto asset to have an ETF after BTC and ETH. Several Solana memecoins also saw gains. Some of these memecoins include BOME, which rose 15 percent with an 80 percent increase in traders, and WEN, which rose 15.5 percent with a 25 percent increase in traders,” said Ryan Lee, chief analyst at Bitget Research.

Meanwhile, cryptocurrencies that registered losses on Friday include Tron, Near Protocol, Underdog, and Status.

According to CoinMarketCap, the total crypto market valuation has increased by 1.39 percent in the last 24 hours. With this, the market cap of the crypto sector has reached $2.28 trillion (about Rs 1,90,32,984 crore).


Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to be financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be responsible for any losses arising from any investment based on any purported recommendation, forecast or any other information contained in the article.

Affiliate links may be automatically generated – see our ethics statement for details.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related