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Business Standard
10 hours ago
- Business
- Business Standard
Bitcoin slips to monthly low as Israel-Iran conflict spooks investors
Bitcoin price today, Friday, June 20, 2025: The ongoing geopolitical conflict in the Middle East between Israel and Iran, compounded by the US Federal Reserve's decision to hold interest rates, has pushed the flagship cryptocurrency Bitcoin to its lowest level this month, touching $103,940. Bitcoin, analysts said, is in a phase of consolidation due to global macroeconomic uncertainty. Bitcoin was trading at around $104,714.58, down 0.20 per cent, with a 24-hour volume of $36.34 billion, as of 11:40 AM on Friday, according to data from CoinMarketCap. The bellwether cryptocurrency recorded a 24-hour low of $103,940.78 and a high of $105,104.40. Bitcoin is currently 6.79 per cent lower than its peak of $111,970.17, scaled on 22 May this year. Bitcoin faces restistance at $106,200 levels Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, remains in a consolidated range due to global macroeconomic uncertainty. Geopolitical tensions in the Middle East, combined with the US Federal Reserve's decision to hold interest rates, Patel believes, have led to a risk-averse stance in the market. "Despite holding above the critical $100,000 level for over 40 days, Bitcoin continues to see muted trading activity, showing limited buying pressure. Bitcoin hasn't acquired enough strength to make a strong move," said Patel. For Bitcoin, Patel sees immediate support at $102,400, while key resistance is forming near $106,200. Meanwhile, Himanshu Maradiya, Founder & Chairman of CIFDAQ, believes that the consolidation in the crypto market is due to microeconomic pressure. "The Fed's unchanged rates and lowered growth projections have investors cautious. Still, signs of structural adoption are strong. Coinbase and Circle stocks are soaring, driven by rising stablecoin and blockchain demand," said Maradiya. "Public companies are diversifying into Hyperliquid, and Eigencloud's a16z-backed launch signals the growing power of restaking and modular crypto infrastructure." Ethereum and other altcoins trade lower Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, was also following a similar trajectory. At last check, it was quoted trading at $2,507.62, down 0.76 per cent. Ethereum has fluctuated in the range of $2,486.10 to $2,544.83 in the last 24 hours. Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 6.67 per cent, Ripple (XRP) by 2.67 per cent, Solana (SOL) was down 2.6 per cent, Cardano (ADA) was trading lower by 2.59 per cent, and Binance Coin (BNB) was trading lower by 0.46 per cent.
Economic Times
a day ago
- Business
- Economic Times
Bitcoin holds above $104k as Fed signals hawkish pause; Altcoins trade mixed
Crypto markets showed a slight dip. Investors are watching the US Federal Reserve's interest rate call and global tensions. Bitcoin dipped a bit, so did Ethereum. Altcoins had mixed results. Experts say Bitcoin is holding steady despite market worries. Bitcoin ETFs are seeing strong inflows. Ethereum is facing resistance. Dogecoin is showing bullish signs. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS XRP 187.49 ( 1.03 %) Buy Ethereum 2,20,025 ( 0.87 %) Buy Bitcoin 91,08,648 ( 0.66 %) Buy BNB 55,938 ( -0.07 %) Buy Solana 12,669.18 ( -0.49 %) Buy Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Cryptocurrencies traded with a slight negative bias on Thursday, as investors weighed the US Federal Reserve's latest interest rate decision and ongoing geopolitical tensions As of 1:26 pm IST, Bitcoin was down 0.26% at $104,704, while Ethereum slipped 0.45% to $2,521. The global crypto market capitalisation declined by 0.3% to $3.25 trillion, according to CoinMarketCap Among altcoins , BNB dropped 1%, Solana 1.7%, Dogecoin 0.6%, Cardano 2.6%, Hyperliquid 6%, Sui 2%, and Avalanche 4%. Tron rose 1%, Chainlink gained 0.5%, Uniswap added 3.5%, Pepe advanced 1%, while OKB jumped 7%.'Bitcoin is trading in a narrow range between $103,400 and $105,500 after the Fed held rates unchanged at 4.25%–4.50%, maintaining a hawkish tone due to inflation concerns,' said Edul Patel, Co-founder and CEO of added that Bitcoin continues to hold key support levels despite macroeconomic and geopolitical headwinds. 'Notably, Bitcoin ETFs have recorded eight straight days of inflows totalling over $2.2 billion, indicating strong institutional demand. If this momentum continues, Bitcoin could soon test the resistance at $106,500, while support is seen around $103,000.'Also Read: Will Bitcoin hit $1 million by 2030? 'Rich Dad Poor Dad' author Robert Kiyosaki thinks so Vikram Subburaj, CEO of Giottus, noted that while crypto markets reacted mildly to the Fed's decision, Bitcoin's tight price structure points to an imminent breakout.'Ask-side liquidity is clustering above $106,000, with nearly $70 million in orders stacked around $106,500. A breakout past this level could trigger a short squeeze, targeting the $109,000–$110,000 zone. Recent bid absorption at $105,000 indicates bulls are still defending this level effectively,' he to Riya Sehgal, Research Analyst at Delta Exchange, Ethereum continues to trade below key resistance and lacks near-term momentum. 'ETH is struggling below the $2,600 mark, with resistance in the $2,575–$2,625 zone. Trading below the 100-hour simple moving average, Ethereum risks a drop toward $2,320 if support fails.'On Bitcoin's outlook, she noted that the price is consolidating between $104,200 and $105,600, with resistance around $105,500. 'A breakout above $106,150 could push BTC toward the $108,800–$110,000 zone. However, the current structure of lower highs suggests bounce momentum is weak,' she recent volatility, some analysts believe the market is stabilising.'After a turbulent week, Bitcoin is holding firm above $100,000, showing resilience and forming a solid support base,' said Avinash Shekhar, Co-founder and CEO of Pi42. 'Ethereum has outperformed Bitcoin in the current geopolitical climate, fuelling early chatter of a potential altseason.'He added that Dogecoin is mirroring past bullish setups last seen in 2020, which preceded strong rallies. 'The Fed's decision to keep rates unchanged has helped calm market nerves. While questions remain about whether Bitcoin has peaked in this cycle, its ability to absorb volatility and defend key levels suggests that bullish sentiment, although cautious, still persists.'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
a day ago
- Business
- Business Standard
Bitcoin fluctuates in narrow band as Fed's rate pause keeps markets on edge
Bitcoin price today, Thursday, June 19, 2025: The flagship cryptocurrency Bitcoin (BTC) is trading in a narrow range between $103,600 and $105,500 after US Federal Reserve Chairman Jerome Powell announced to keep the interest rates unchanged at 4.25 per cent–4.50 per cent, with a hawkish stance, citing inflation concerns. Analysts said that the markets had already priced in the US Fed's decision and expect Bitcoin to consolidate near current levels. Bitcoin was trading at around $104,996.65, down 0.41 per cent, with a trading volume of $48.34 billion, at 11:37 AM on Thursday, June 19, 2025, according to data from CoinMarketCap. The bellwether currency has fluctuated in the range of $103,602.26 - $105,542.84 in the last 24 hours. Bitcoin's market capitalisation was recorded at $2.08 trillion, cementing its position as the world's largest cryptocurrency by market value. Bitcoin to consolidate at current levels Vikram Subburaj, CEO of Giottus Crypto Platform, believes that there is a strong likelihood for Bitcoin to consolidate at current levels and undergo a short squeeze towards $109,000. "Bitcoin currently sits just below a Fair Value Gap zone, with resistance flagged at $106,179 and $108,046. The downside risk for Bitcoin this weekend remains limited after its drop earlier in the week," Subburaj said. Meanwhile, Edul Patel, Co-founder and CEO of Mudrex, on the other hand, remains optimistic and said, "Despite short-term pressure from macroeconomic and geopolitical factors, Bitcoin remains resilient near key support levels." Notably, Bitcoin ETFs have recorded eight consecutive days of inflows totaling over $2.2 billion, reflecting strong institutional interest. "With continued demand, Bitcoin could soon attempt the resistance at $106,500, while support holds firm around $103,000," said Patel. It is worth noting that Bitcoin is currently trading nearly 6.27 per cent lower from its peak of $111,970.17 scaled on May 22 this year. Ethereum and other altcoins trade lower Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, slipped briefly below the $2,500 mark but regained it and was holding above it. Last checked, it was quoted at $2,520.77, down 0.71 per cent, with a trading volume of $19.46 billion. ETH swung in the range of $2,469.05 - $2,546.77 over the past 24 hours. Among other popular cryptocurrencies, Hyperliquid (HYPE) was trading lower by 7.37 per cent, Cardano (ADA) was trading lower by 2.71 per cent, Solana (SOL) was down 1.71 per cent, Binance Coin (BNB) dropped 1.24 per cent, and Ripple (XRP) was down by merely 0.05 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading flat at $1.
The Star
2 days ago
- Business
- The Star
Circle surges as US Senate clears path for stablecoin regulation
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group's IPO, in New York City, U.S., June 5, 2025. REUTERS/Brendan McDermid/File Photo (Reuters) -Shares of Circle Internet jumped 16% in morning trading on Wednesday after the U.S. Senate approved a milestone stablecoin bill, fueling hopes for broader adoption of what was once a niche corner of the crypto sector. A rare show of bipartisan support marks a turning point in the fractured debate over crypto oversight, and a breakthrough for a sector long stuck in regulatory limbo. Circle, the issuer of the second-largest stablecoin by market value, went public earlier this month in a blowout debut on the New York Stock Exchange. Its shares were last at $173.60, versus IPO price of $31. The company's flagship USDC stablecoin has a market value of around $61.4 billion, according to data from CoinGecko. The tokens have gained traction for offering crypto's convenience without its volatility. Pegged to currencies like the U.S. dollar, they aim to hold a stable value backed by reserves. The Republican-controlled House of Representatives must pass its version of the bill, known as the GENIUS Act, before it heads to President Donald Trump for approval. "Once passed into a law (likely the end of summer), we expect stablecoins to evolve from the money rail of crypto to the money rail of the internet," analysts at brokerage Bernstein said. Proponents say by setting clearer rules for issuing and managing dollar-pegged tokens, the bill could bring greater legitimacy to the sector. Several high-profile corporates are also reportedly exploring launching their own stablecoins. If signed into law, stablecoins will have to be backed by liquid assets - such as U.S. dollars and short-term Treasury bills - and for issuers to publicly disclose the composition of their reserves on a monthly basis. "Stablecoin adoption could also serve as a strong tailwind for major cryptocurrencies like bitcoin," analysts at brokerage KBW said. Stablecoins account for roughly $256 billion of the crypto sector's total $3.3 trillion market value, according to CoinMarketCap data. (Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)
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Business Standard
2 days ago
- Business
- Business Standard
Bitcoin struggles at high levels, consolidates around $104k: What's next?
The crypto markets have been exhibiting a blend of optimism and caution. The flagship currency, Bitcoin (BTC), despite reclaiming the $107,068 level buoyed by favorable sentiments, has struggled to hold above it and slipped below the $104,000 mark. At 9:15 AM on Monday, May 19, Bitcoin was quoted trading at around $103,851.99, up 0.50 per cent. The world's most popular cryptocurrency had a 24-hour trading volume of $55.13 billion. Bitcoin's market capitalisation stood at $2.06 trillion, the highest among all cryptocurrencies. Bitcoin has traded in the range of $103,295.25 to $107,068.72 in the last 24 hours, according to data from CoinMarketCap. Bitcoin faces resistance $107,000 Bitcoin, Vikram Subburaj, CEO, Giottus Crypto Platform, said, needs to consolidate further above $103,000 before it can breach strong resistance placed at $107,000. The asset's performance is also dependent on the US stock indices, which are likely to have a pullback after a stellar week, delaying a surge in Bitcoin. "If Bitcoin decisively breaks $107,000, aided by strong ETF inflows, it would lead to new highs for Bitcoin, with strong rallies expected among altcoins. Until then, traders are advised to minimize their losses and be ready to deploy cash in case of a breakout," said Subburaj. Notably, the bellwether currency is nearly 4.6 per cent lower from its all-time high of $109,114.88 scaled on January 20 this year. Bitcoin, Alankar Saxena, CTO and co-founder of Mudrex, believes that it seems to be on the verge of forming a golden cross this week, similar to patterns seen in February and October last year, which historically preceded significant rallies and could once again propel prices to record highs. "A decisive breakout above $105,000 could signal a bullish continuation, paving the way for new all-time highs," said Saxena. However, a drop below the $102,500 support zone, Saxena believes, may trigger a short-term pullback toward $100,000. Ethereum and other altcoins Meanwhile, Ethereum (ETH), the world's second-largest cryptocurrency by market capitalization, was also facing resistance at higher levels. At last check, Ethereum was trading at around $2,384.64, down 3.6 per cent. Among other popular cryptocurrencies, Cardano (ADA) was trading lower by 1.45 per cent, Solana (SOL) was down 0.95 per cent, Binance Coin (BNB) was down by 0.56 per cent, and Ripple (XRP) declined by 0.20 per cent. Meanwhile, the US dollar-linked stablecoin Tether was trading at $1, down 0.01 per cent. Top trending cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Pepe (PEPE) were among the top trending crypto coins on CoinMarketCap on Monday morning.
