Sathvik Vishwanath News

Cryptocurrency markets fell sharply on Thursday as geopolitical tensions intensified after Iran launched missile strikes on Israel. Bitcoin dropped below $60,500, while major altcoins such as Ethereum, Solana, XRP, and Dogecoin saw declines ranging from 5-15%. As of 2:49 pm IST, Bitcoin slipped 1.8% to $60,492, while Ethereum plunged 5.4% to $2,339. The global cryptocurrency market cap fell by 3.7% to approximately $2.09 trillion in the past 24 hours.

Bitcoin (BTC) staged a strong recovery on Tuesday, briefly hitting a high of $88,758 before pulling back. The rebound followed US President Donald Trump’s comments hinting at potential tariff exemptions, easing market concerns. Market sentiment also improved after MicroStrategy’s $584 million Bitcoin purchase, reinforcing institutional confidence. «Bitcoin briefly reclaimed $88,000 following MicroStrategy’s purchase, signaling renewed institutional interest and ETF inflows. The asset remains strong above the $86,000 support level, while Trump Media has partnered with Crypto.com to launch ETFs featuring digital assets and securities,» said Vikram Subburaj, CEO of Giottus.

Bitcoin gained nearly 1% in the past 24 hours but remains below the $60,000 mark. The global crypto market cap increased by 0.63% to $2.1 trillion. As of 12:09 pm IST, Bitcoin was trading at $59,724, up nearly 1%, while Ethereum rose by 3.6% to $2,557.

Dogecoin, Avalanche, and Shiba Inu which were down by up to 2.5%. Altcoins that were trading in the green around this time included Solana, XRP, Toncoin, Cardano, and Tron which gained up to 2%.

BTC is trading in a range between $62,000 and $63,800 and is still down by around 14% from its all-time peak of $73,750.07. However, its start for this week was with significant volatility where it hit levels of $65,500.

Bitcoin was trading 1.3% lower at $64,592 as of 11:56 a.m. IST, while Ethereum was below the $3,550 level.

cryptocurrencies has sparked immense interest and debate worldwide. From Bitcoin to Ethereum, these digital currencies have not only challenged traditional notions of money but have also emerged as a new asset class with significant investment potential. In a recent live stream session on ETMarkets, Sathvik Vishwanath, Co-Founder & CEO of Unocoin, delved into the reasons why cryptocurrencies are becoming increasingly indispensable as an asset class. Evolution of Money: From Barter to Cryptocurrencies

However, over the last 24 hours, Bitcoin experienced a slight decline, with its latest trading price showing a 0.3% decline to $66,190 as of 10:58 am IST. It also touched an intraday low of $64,580.

Stock market vs gold price vs Bitcoin price: After climbing to a new lifetime high, shar selling was witnessed across sectors in the Indian stock market. However, to the surprise of the investors, gold price and Bitcoin prices too witnessed selling pressure in the week gone by. According to experts, the Indian stock market witnessed selling pressure due to the 'shar test' being suggested by the mutual funds' body AMFI to the AMCs after the market regulator SEBI raised concern over the froth building up in the small and mid-cap stocks.

Consumer price index dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the CPI stood at 3.4%.

At 12:04 p.m., BTC was trading 0.88% higher at $46,264, while Ethereum was up 1.26% at $2,613. Whereas altcoins, such as Cardano, Avalanche, Polkadot, and Polygon rose over 3%. «In the past 24 hours, the overall market displayed volatility, especially after the launch of the BTC spot ETF. Notably, Spot Bitcoin ETFs achieved a trading volume surpassing $4.5 billion on their first day, indicating positive market sentiment,» said, CoinDCX Research Team. Meanwhile, overnight BTC touched a new higher high at $49,000 but experienced a quick drop to $46,000, influenced by higher-than-expected CPI data.

cryptocurrency markets were trading higher on Thursday as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March. In Thursday's trade, the global cryptocurrency market cap surged 2.52% to around $1.69 trillion in the last 24 hours. At 12:46 p.m., BTC was trading 1.44% higher at $43,055, while Ethereum was up 6.9% at $2,379. BTC bounced back from the 20 EMA D and is holding above that, signalling a positive trend. Additionally, BTC dominance continues to decline, which is favourable for altcoins. BTC needs to clear the key resistance at $44,500 for further upward movement, said CoinDCX Research Team.

cryptocurrency markets were trading lower on Friday, dragged by Bitcoin, Ethereum, BNB, Cardano, and Chainlink. Meanwhile, the global cryptocurrency market cap declined 0.75% to around $1.67 trillion in the last 24 hours. At 1:16 p.m., BTC was trading 1.5% lower at $42,354, while Ethereum was down 1.3% at $2,344. Currently consolidating at US$42,500, Bitcoin faces immediate resistance at US$43,000. A close above this level may trigger a price surge, with support at US$42,150 on the downside, said Edul Patel, CEO of Mudrex. CoinDCX Research Team said, «BTC has been moving sideways within the range of $41,900 and $44,500 over the past few days, currently sitting at the incline trendline support. If it sustains at this level, there might be a chance for another touch of the resistance level at $44,500.»

cryptocurrency market cap declined 1.7% to around $1.4 trillion in the last 24 hours. At 11.23 a.m., BTC was trading 1.08% lower at $36,933, while the second most popular token, Ethereum, was down 2.38% at $2,000. Other popular altcoins, such as Tron, Chainlink, and Avalanche, plunged over 5% each. Also, BNB, XRP, Solana, Cardano, Dogecoin, Polygon and Shiba Inu fell 2-4%. The total volume in DeFi is currently $5.12 billion, 10.06% of the total crypto market 24-hour volume. The volume of all stablecoins is now $47.55 billion, which is 93.42% of the total crypto market 24-hour volume.

cryptocurrency market on Friday gave up the previous day's gains as the global cryptocurrency market cap declined by 2.62% to around $1.4 trillion. At 12:34 p.m., Bitcoin was trading 3.4% lower at $36,338, while the second most popular token, Ethereum, was down 4% at $1,981. «Bitcoin (BTC) faces a sharp decline, falling more than 3% to the $36,300 range after rejecting the $38,000 resistance. The SEC's delay in ruling on Hashdex's bitcoin ETF conversion may have fueled the intraday selloff,» said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. «Macro factors, including a potential US Federal Reserve tapering cycle in 2024, are contributing to cryptocurrency tailwinds. Chart analysis suggests an ascending triangle with bullish growth, with a break above $38,000 potentially leading to a test of $40,000,» Sathvik said.

Meanwhile, a fall in US retail sales in October after months of strong gains pointed to a cooling economy and strengthened expectations that the Fed is done hiking rates. At 11:57 a.m., Bitcoin was trading 5.2% higher at $37,415, while the second most popular token, Ethereum, was up 3.6% at $2,054. At the same time, the global cryptocurrency market cap surged by 4.8% to around $1.43 trillion in the last 24 hours. «Bitcoin (BTC) is up 5%, trading around $37,700, after a massive liquidation of leveraged positions totalling nearly $100 million for the day. The market recovery, fueled by aggressive buying and macroeconomic factors, is gaining momentum as US inflation and retail data support the Federal Reserve's easing cycle narrative,» said Sathvik Vishwanath, Co-Founder & CEO of Unocoin.

Toncoin and Tron were trading in the green, while Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. The global cryptocurrency market cap surged 0.76% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.1% at $28,586 as of 12:39 p.m., while Ethereum was below the $1,600 level. «Bitcoin has maintained a trading position above the $28,300 mark in the last 24 hours. This price movement is driven by growing excitement among investors about the potential approval of a Bitcoin Spot ETF in the United States,» said Edul Patel, CEO of Mudrex. «BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it.

Toncoin and Tron were trading in the green, while Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red. The global cryptocurrency market cap surged 0.76% to around $1.09 trillion in the last 24 hours. Bitcoin was up 1.1% at $28,586 as of 12:39 p.m., while Ethereum was below the $1,600 level. «Bitcoin has maintained a trading position above the $28,300 mark in the last 24 hours. This price movement is driven by growing excitement among investors about the potential approval of a Bitcoin Spot ETF in the United States,» said Edul Patel, CEO of Mudrex. «BTC has successfully reclaimed the 200-day Simple Moving Average (SMA) and is currently holding above it.

Bitcoin was down 0.2% at $26,809 as of 11:30 p.m., while Ethereum was below the $1,550 level. Meanwhile, the global cryptocurrency market cap declined 0.5% to around $1.05 trillion in the last 24 hours. In today's trade, Toncoin and Solana fell up to 3%. While BNB, XRP, Dogecoin, Tron, and Polkadot also declined.

cryptocurrency market cap declined 0.89% to around $1.08 trillion in the last 24 hours. Bitcoin was down 0.7% at $27,397 as of 11:27 p.m., while Ethereum was below the $1,650 level. BNB, Solana, Cardano, Toncoin, Polkadot, and Litecoin were trading in the red, while XRP and Tron were trading in the green. «BTC and Ethereum prices have experienced a slight decrease in the past 24 hours. This dip is attributed to rising U.S. bond yields and overbought signals, which have put pressure on Bitcoin,» said CoinDCX Research Team.

Meanwhile, the global cryptocurrency market cap was trading lower, around $1.04 trillion, falling 1.16% in the last 24 hours. «The markets remained calm over the weekend with BTC failing to retain the $27,000 level. The rising crude oil process and geopolitical uncertainty may restrict the crypto market momentum in the coming weeks,» Atulya Bhat, CMO of BuyUcoin, said. Meanwhile, Edul Patel, CEO & Co-founder of Mudrex, said, «Bitcoin is currently trading above $26000. The bulls have been working hard to counter the bearish signals in the market. Bitcoin currently faces resistance at the $27,500 mark. However, the price could decline below the current level and there are chances that BTC might revisit the $25,400 support zone.»