Bitcoin holds above $106k amid geopolitical jitters; Solana, Hyperliquid jump up to 7%
Bitcoin and other cryptocurrencies showed recovery on Monday. The crypto market capitalisation increased. Bitcoin traded higher at $106,273, and Ethereum also gained. Altcoins demonstrated strength. Bitcoin recovered after a dip, facing resistance at $106,750–$107,500. Ethereum bounced back, targeting $2,720–$2,880. Experts anticipate regulatory updates to influence market direction.
Tired of too many ads?
Remove Ads
Crypto TrackerPowered By
TOP COINS
TOP COIN SETS Solana
13,520.38 (
6.5 %) Buy Ethereum
2,24,350 (
2.16 %) Buy XRP
187.81 (
0.92 %) Buy BNB
56,317 (
0.59 %) Buy Bitcoin
91,69,563 (
0.42 %) Buy
Tired of too many ads?
Remove Ads
Bitcoin and other major cryptocurrencies traded higher on Monday morning, recovering from recent volatility triggered by geopolitical tensions . The overall crypto market capitalisation rose by 0.87% to $3.31 trillion, according to CoinMarketCap.At 10:32 am IST, Bitcoin was trading 0.63% higher at $106,273, while Ethereum gained 1.35% to $2,575. Altcoins also showed strength, with Solana surging 7.2%, Hyperliquid up 6.8%, and Cardano rising 1.5%. Other tokens like XRP, Sui, and Chainlink posted gains of 1%–2.3%."Bitcoin is trading above $105,800, eyeing a breakout past the $106,000 resistance," said Edul Patel, Co-founder and CEO of Mudrex. "Investor confidence increased with strong institutional inflows through ETFs and Michael Saylor hinting at another Bitcoin purchase despite geopolitical concerns."On-chain data reflected stable exchange netflows, indicating strong investor sentiment and no immediate intent to sell. Patel added that if BTC sustains above $106,000, a move toward $108,500 is likely, with support at $103,500.Avinash Shekhar, Co-founder and CEO of Pi42, noted that the market is showing resilience. 'Bitcoin is holding its ground above $105,000, even as global uncertainty lingers. Despite the recent shakeout that led to over $1.16 billion in liquidations, sentiment is recovering,' he said, pointing to technical signals like the golden cross and growing altcoin activity.Also Read: How can anyone consider Bitcoin to be a digital version of gold, questions Peter Schiff Delta Exchange Research Analyst Riya Sehgal noted that Bitcoin has recovered after dipping to $103,200, now hovering near $106,200. Key resistance is seen at $106,750–$107,500, while support lies at $104,000. Ethereum also showed strength, bouncing from $2,441 to near $2,572, with upside targets at $2,720–$2,880 if it clears resistance at $2,620.She highlighted strong ETF flows, including a $5.4 billion equity raise by Metaplanet aimed at acquiring 210,000 BTC. Meanwhile, Ethereum saw an ETF outflow of $2.1 million on June 13, ending a 19-day inflow streak, even as whales accumulated 1.49 million ETH over the past month.CoinSwitch Markets Desk highlighted that Bitcoin remained in a tight range between $104,500–$106,300, supported by high-volume buying near $104.5K.Analysts from NYDIG described the current low-volatility phase as a 'summer lull' and expect upcoming catalysts like the SEC's GDLC decision and regulatory updates to influence direction.Also Read: Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Road to a $3.7 trillion Stablecoin market is full of obstacles
Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS BNB 55,738 ( -0.26 %) Buy XRP 184.44 ( -0.79 %) Buy Bitcoin 89,70,033 ( -1.12 %) Buy Solana 12,162.23 ( -3.51 %) Buy Ethereum 2,10,149 ( -3.78 %) Buy Lower Fees and Faster Tired of too many ads? Remove Ads Low Liquidity Regulatory Uncertainty The passage of stablecoin legislation in the US Senate marks a huge leap forward for the potential mainstreaming of cryptocurrencies that track the US dollar there are still big problems to solve before many businesses can capitalise on the opportunities that are arising. Now, stablecoins are taking the leap from their original use as crypto-market poker chips to common mediums of exchange, offering merchants and consumers cheaper and more efficient payment the hurdles getting in the way of the hype: An uneven regulatory environment between major markets like the US and the European Union that threatens to create compliance risks, as well as gaps in know-your-customer standards that raise concerns about fraud and illicit activity. What's more, the potential proliferation of competing stablecoins from issuers large and small could create complexity that stymies their adoption.'As with any new form of value, widespread adoption necessitates regulatory clarity, consistent legal frameworks across jurisdictions and – importantly – interoperability with existing infrastructure and assets,' said Tom Zscach, chief innovation officer at Swift, the global bank-messaging cooperative. 'Without this last point, new assets just risk creating additional fragmentation in an already complex financial ecosystem.'The eye-popping success of stablecoin issuer Circle Internet Group Inc.'s initial public offering — its shares are trading at about five times their offering price less than two weeks later — speaks to the optimism surrounding the potential growth to be found in this once-obscure corner of the crypto market. Meanwhile, financial giants including PayPal Inc., Banco Santander SA and Deutsche Bank AG are among those who have recently explored or already entered the space, while others like Visa Inc. and Stripe Inc. have adapted their existing infrastructure to be stablecoin-friendly. Even President Donald Trump has launched a stablecoin via his family's venture, World Liberty Financial merchants and other businesses, the advantages of using the tokens could be significant: lower transaction costs, faster payments and 24/7 availability. Banks and fintechs are not the only ones taking notice. Inc. and Walmart Inc. are among large multinational companies which have recently discussed issuing their own stablecoins in the US, the Wall Street Journal reported last week, citing unidentified people familiar with the all could lead to an explosion of growth in the sector. The world's supply of stablecoins could swell to as high as $3.7 trillion by 2030 if growing integration of digital assets into traditional finance and favourable macroeconomic conditions continue, Citigroup Inc. analysts said in an April report. But there's a caveat to that prediction. Should risks like delayed regulations, fraud, and security concerns go unmitigated, Citi estimated the figure could be closer to $500 billion, which nonetheless is still about double what it is the sector has already rapidly grown in popularity, stablecoins are still largely used for transactions related to the cryptocurrency market rather than business payments. The total volume of all stablecoin transactions was nearly $4 trillion in February, according to data compiled by Allium Labs and Visa. Yet only $6 billion in stablecoin transactions categorised as payments were recorded that month, an analysis of data collated by Artemis, Castle Island Ventures and Dragonfly Capital use case for payments has started to gain traction, even before US legislation officially goes into the books. Shadeform AI, a San Francisco-based startup running a marketplace for providers of artificial intelligence technology, started accepting stablecoins as a payment method in February, facilitated by its existing payments processing partner, then, Shadeform has seen transaction cost savings of up to 70% when a customer chooses to pay using Circle's stablecoin USDC , Chief Technology Officer Ronald Ding said in an interview. At sticker prices, Stripe charges 2.9% for payments using credit cards in the US, plus a small flat fee, with an added 1.5% on top if the customer is paying with an international card. While Automated Clearing House payments and wire transfers can be cheaper than credit cards, those transactions can take up to a week to stablecoin payments , that Stripe fee drops to 1.5% — and the cash arrives instantly. As a result, customers paying in USDC don't have to wait for the check to clear before Shadeform can give them access to the computing power they've bought, and Shadeform isn't exposed to potential chargebacks, Ding said.'Being able to save the difference, in certain cases, can save us a lot more on the actual profit that we're making,' he are also finding stablecoins useful for streamlining payments to workers around the Writer, an AI content software business based in Malaysia, started using stablecoins after it lost a developer in Argentina because fees for traditional payment methods were too costly and taking too long to clear. Now about 30% of the company's external payments go through USDC, according to CEO Adam Yong, including those made to some of its own software providers.'What convinced me was seeing how much smoother our operations run when we're not waiting on bank transfers or dealing with currency conversion headaches,' Yong said over are also becoming a practical payment solution for companies with suppliers in areas with limited access to traditional banking services. Win Win Coffee, a Philadelphia-based merchant, has been testing out PayPal's PYUSD stablecoin and is considering using it to pay for coffee from a farmers' cooperative in Colombia.'A lot of people need cash, and a lot of these producers are unbanked. When they're living in areas where banks aren't very close by, stablecoin helps,' said Matt Nam, co-founder of Win Win. 'If we're doing things more securely and we're sending payments faster, that helps us to have some competitive advantage.'Still, stablecoins remain cumbersome for very large payments due to relatively low liquidity compared with the vast volumes handled by global banks each day. JPMorgan Chase & Co. alone processes around $10 trillion in daily transactions.'Where it gets clunky is in the hundreds of millions of dollars,' said Chris Harmse, co-founder of stablecoin payments company BVNK. 'If you are moving interbank-sized flows, it will get clunky.' This is likely to change as stablecoins gain further acceptance by existing payment processors, he jurisdictions like the European Union, Singapore and Hong Kong now have rules for stablecoins, but major players like the US and the UK aren't expected to have regulation fully implemented for months or even years to come. That uncertainty currently makes it harder for businesses weighing whether to use them for payments.'Firms are kind of stuck because 18 months, from a policymaking perspective, is incredibly fast, almost overly ambitious,' said Laura Navaratnam, UK policy lead at the Crypto Council for Innovation, speaking on a panel organised by Stripe in London last month. 'But from a commercial perspective, it may as well be a decade away.'As a result, it's hard for businesses to know whether they're in compliance with existing rules in areas like KYC checks and anti-money laundering measures. Operating on brand new and complex technology means businesses also have to get up to speed on how to use some services, or spend time and money converting their back-end systems to work with new while cross-border payments is a compelling use case for stablecoins, liquidity is limited for non-dollar tokens since the vast majority of the $250 billion stablecoin market is denominated in the US currency. This makes it hard to settle payments efficiently in local manufacturing giant Siemens AG is not testing or considering stablecoins, in part because they still 'bring a number of structural disadvantages,' Heiko Nix, the company's global head of cash management and payments, said in an interview. These include currency conversion steps and FX risk, especially when stablecoins are US dollar-pegged and used in a euro environment, Nix the company has been using JPMorgan's blockchain-based payment network Kinexys Digital Payments for two years, currently processing about 1,000 payments a month. 'We see no added value in stablecoins compared to tokenised commercial bank money, especially for industrial or treasury use,' Nix deposits are typically digital tokens issued by regulated banks that represent claims on bank deposits. They are, in essence, bank account balances represented on a blockchain.'Tokenised commercial bank money offers all technical benefits — 24/7 availability, programmability, atomic settlement — while retaining the legal and accounting features of conventional cash,' Nix said. 'It integrates seamlessly into our systems without added complexity,' he compliance with taxes and local rules is taking priority for businesses over speed or cost efficiency, according to Gabriele Zuliani, chief revenue officer for crypto exchange Bitso Inc.'s business division. 'Unless you provide the clarity on these two fundamental pieces — they may love the technology and the speed of the settlement and everything — but there is a huge barrier for adoption because they don't know if they're getting themselves into trouble,' said Zuliani, speaking at the Stripe event in issuers like PayPal remain positive that stablecoins will get their moment.'It's not a silver bullet, and I think people sometimes get a little bit impatient,' May Zabaneh, PayPal's vice president of product for digital currencies and remittances, said in an interview. 'These are things that we have to work hard at.'
Time of India
11 hours ago
- Time of India
Cryptocurrency Live News & Updates : Bitcoin Dips Below $103K Amid Market Volatility
21 Jun 2025 | 02:05:12 AM IST Over 35 million Ether is now staked, leading to tighter liquidity as investors favor passive yields over trading. Corporate treasuries, including SharpLink, are driving this trend. The cryptocurrency landscape is witnessing significant developments as staked Ether (ETH) has surpassed 35 million tokens, accounting for over 28% of Ethereum's circulating supply. This trend reflects a growing preference for passive yield strategies among investors, particularly corporate treasuries like SharpLink, which recently staked a substantial portion of its ETH holdings. Meanwhile, optimism is rising around the approval of various crypto exchange-traded funds (ETFs), with Bloomberg analysts estimating a 90% or higher chance for many filings, including those for XRP, Solana (SOL), and Dogecoin (DOGE). The SEC's recent engagement is seen as a positive sign for these approvals. Additionally, Solana continues to thrive, reporting over $1 billion in app revenue for two consecutive quarters and attracting a significant number of developers. As the crypto market evolves, the interplay between staking, institutional investment, and potential ETF approvals will be crucial in shaping the future of digital assets. Show more
Time of India
11 hours ago
- Time of India
IT Park Phase IV to transform capital's economic landscape
T'puram: The landscape of Thiruvananthapuram is undergoing a dramatic transformation as Technopark Phase IV, formerly known as Technocity, takes shape as Kerala's premier technology hub. With a string of big-ticket projects in the pipeline, this ambitious hub will redefine city's economic landscape, attract top-tier investments and generate thousands of new jobs. Spanning 400 acres at Pallipuram, this ambitious development is set to become an integrated IT township that seamlessly blends information technology, space innovation and sustainable urban infrastructure. At the heart of this transformation is the TCS Digital Hub, scheduled for completion in early 2026. This flagship facility by Tata Consultancy Services will accommodate over 20,000 professionals, making it one of India's largest digital centres. The project's construction is progressing rapidly, signalling strong momentum for the entire development. The upcoming Digital Science Park represents another groundbreaking initiative, positioning itself as India's first dedicated facility for advanced research collaboration between academia and industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Global tech giant ARM has expressed interest in partnership opportunities, while Irish firm TRASNA has already established its semiconductor facility in the Kabani building, with plans for further expansion. Technopark QUAD development is currently under construction, designed to provide latest infrastructure for IT and ITeS companies of all sizes. With 8.5 lakh sq ft of space, this multi-block complex will offer plug-and-play offices and modern amenities to attract both international and domestic companies. Innovation takes centre stage with the proposed Emerging Technology Startup Hub, led by Kerala Startup Mission. This facility will nurture startups in cutting-edge fields such as blockchain, metaverse, IoT and clean tech, providing crucial incubation space and mentoring support. The Space Park, a strategic collaboration with Isro and private aerospace companies, is set to position Thiruvananthapuram as a key player in India's space-tech sector. With facilities for satellite fabrication and testing, the first building is expected to be operational within 13 months. Adding to the mix is the Unity Mall, showcasing Kerala's 'One District One Product' items and local crafts to global visitors, with operations scheduled to begin in Nov this year. "Technopark Phase IV is rapidly transforming into Kerala's 'Destination Next' and emerging digital hub," said CEO of Technopark Sanjeev Nair. "The ecosystem here is poised for exponential growth with the presence of key institutions and initiatives," he added.
