Latest news with #CoinSwitchMarketsDesk
News18
13-06-2025
- Business
- News18
Bitcoin Falls 4% After Israel's Attack On Iran, Ethereum Drops 9.6%
Last Updated: Cryptocurrencies witness a steep decline following reports of Israeli airstrikes on Iran, escalating tensions in the Middle East and triggering a broad risk-off sentiment. Bitcoin, the world's biggest cryptocurrency, declined by over 4% to $104,000 in the morning trade on Friday, even as cryptocurrency markets witnessed a steep decline late last night following reports of Israeli airstrikes on Iran, escalating tensions in the Middle East and triggering a broad risk-off sentiment. Ethereum also plummeted by 9.6%. Other cryptos Solana, XRP, and BNB also fell by 9.62%, 5.42%, and 2.65%, respectively. Recently, Bitcoin broke its all-time record to cross $111,000. According to CoinSwitch Markets Desk, 'Cryptocurrency markets witnessed a steep decline late last night following reports of Israeli airstrikes on Iran, escalating tensions in the Middle East and triggering a broad risk-off sentiment. BTC fell 4% to around $104,000, while ETH dropped 9.6% to $2,493. The total crypto market cap slid over 5%, currently standing at $3.35 trillion." The geopolitical uncertainty also sent crude oil prices surging by over 5%, raising fresh concerns about inflation. Elevated oil prices may compel the US Federal Reserve to adopt a more cautious stance on rate cuts, further dampening investor appetite for risk assets, including crypto, it added. Apart from cryptocurrencies, equity and currency markets also witnessed a decline on Friday. Recently, President Donald Trump's media company announced a plan to raise $2.5 billion to buy bitcoin, joining a growing number of so-called 'bitcoin treasury companies" as the world's most popular cryptocurrency hits all-time highs. The companies buy bitcoin for different reasons: Some hold it as a hedge against inflation or to signal support for the cryptocurrency industry, while some firms have made using debt and stock sales to buy bitcoin their primary business strategy. The price of Bitcoin has been highly volatile since it started because of several factors. Firstly, the cryptocurrency market is still relatively small and less liquid compared to traditional financial markets, which means that large trades can significantly impact price movements. Secondly, Bitcoin's value depends on public sentiment and speculation, leading to short-term price changes. Media coverage, influential opinions, and regulatory developments create uncertainty, affecting demand and supply dynamics and contributing to price fluctuations, according to Another key factor is Bitcoin's fixed supply. With only 21 million bitcoins ever to be minted, its scarcity can lead to dramatic price changes as demand varies. This is exacerbated by 'whales" or large holders of Bitcoin, whose sizable transactions can sway the market considerably, it added. First Published: June 13, 2025, 09:41 IST
Mint
10-06-2025
- Business
- Mint
Crypto news update, June 10: Bitcoin brushes $110k catching traders off-guard before moving to $1,09,449
Bitcoin price today, June 10: The world's largest cryptocurrency, Bitcoin, briefly rose 1.38 per cent to $110,277.93 on June 10, while Ether jumped 4.8 per cent to $2,713.39, before slipping sightly on profit-booking. CoinSwitch Markets Desk noted that the hike caught traders off guard. 'Over $110 million in short positions were liquidated within an hour, with a total of $330 million in shorts wiped out over the course of the day,' they noted. Overall, the crypto market capitalisation on June 10 is at $3.41 trillion, with trade volume over the past 24 hours being $134.11 billion, according to data on CoinMarketCap. Further, in terms of dominance, Bitcoin gained 1.41 per cent to comprise 63.6 per cent of the market share on June 10; while Ethereum rose 0.43 per cent to 9.5 per cent dominance; and other tokens fell 1.84 per cent to comprise the remaining 26.9 per cent of the crypto market, data showed. Early at 5 am on June 10, Bitcoin briefly touched 1,10,000 levels, before moving to $109,449.70 at time of writing, as per CoinMarketCap. It was up 3.74 per cent from the previous day, with market cap at $2.17 trillion (also up 3.79 per cent), and tarde volume of $58.15 billion (up 50.45 per cent). According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, Bitcoin 'is trading above its anchored VWAPs, reinforcing the prevailing positive market sentiment'. Further, at time of writing, Ethereum was up 7.40 per cent over the past 24 hours, to $2,677.74, with market cap of $323.26 billion (up 7.41 per cent), and volume of $26.92 billion (up 98.57 per cent). In other big names, USD linked Tether was at $1, with market cap of $155.22 billion (up 0.25 per cent), and volume of $87.48 billion (up 53.04 per cent); while the Solana token was at $158.54, with market cap of $83.22 billion (up 5.16 per cent) and volume of $3.9 billion (up 73.83 per cent). Walke noted that Bitcoin recently formed an inverted Head and Shoulders pattern on the hourly timeframe, which is 'a bullish technical setup'. 'Based on the pattern's projection, Bitcoin could target levels around $111,000. On the institutional side, Bitcoin spot ETFs recorded net inflows of $386.2 million, while Ethereum ETFs attracted $53 million, indicating growing investor interest in both assets,' he added. CoinSwitch's opinion was that a decisive break above $110k or below $100k will be needed to sustain momentum. And CoinDCX research team noted that 'investor's sentiments are slowly turning into 'greed' after a brief consolidation'. Edul Patel, Co-founder and CEO of Mudrex noted, 'the crypto market saw a strong rally, amid easing geopolitical tensions. The US and China resuming trade negotiations led to a positive investor sentiment, with the rally extending to Ethereum, Solana, and other altcoins.' 'Meanwhile, about $38 million in short positions were liquidated, reducing downside pressure. If the momentum sustains, Bitcoin could attempt a new all-time high soon, with support standing at $105,600,' he added. Key Takeaways Bitcoin's recent rally indicates a shift in investor sentiment towards optimism. Technical patterns suggest potential price targets and market trends. Short position liquidations highlight the volatile nature of cryptocurrency trading.
Economic Times
02-06-2025
- Business
- Economic Times
Crypto Prices Today: Bitcoin tops $105,000 as market eyes Fed signals and institutional flows
Bitcoin climbed past $105,000 on Monday, rebounding from weekend lows amid strong institutional demand and cautious investor optimism ahead of key macroeconomic events. ADVERTISEMENT As of 1:23 PM IST, the world's largest cryptocurrency was trading at $105,366, up 1% in the last 24 hours. Ethereum, however, slipped marginally by 0.1% to $2,506. The global cryptocurrency market cap rose 0.9% to $3.29 trillion, according to CoinMarketCap, with gains seen across several altcoins. XRP, Solana, Dogecoin, and Cardano edged up between 0.3% and 1.2%, while Bitcoin's dominance remained steady at 63.7%. The market witnessed heightened volatility over the weekend after US President Donald Trump escalated trade tensions with new tariff threats, triggering risk-off sentiment across global markets. According to CoinSwitch Markets Desk, Bitcoin briefly dropped below $104,000, triggering over $600 million in liquidations—the highest in four months—before bouncing back above $105,000, supported by institutional buying around the $103,000 level.'Bitcoin is trading steadily above $105,000, bouncing back from weekend lows of $103,200,' said Alankar Saxena, Co-founder and CTO of Mudrex. 'The market is now focused on macroeconomic cues, especially Fed Chair Jerome Powell's upcoming speech. Technically, $106,000 is a key resistance zone. A breakout above $106,800 could push the price toward $108,000.'On the flip side, failure to hold current levels could send Bitcoin back toward $103,500, he added. ADVERTISEMENT Delta Exchange's research analyst Riya Sehgal noted that Bitcoin is testing support near $103,900 within a descending broadening wedge pattern. 'A decisive move above $106,800 could lead to targets near $110,000. However, if $106,500 fails to hold, prices may dip toward $102,500 or even the $93,000–$97,000 range.'Ethereum faces resistance at $2,620. A breakout may lead to $2,720, but downside risks to $2,470 and $2,420 persist if bulls fail to reclaim control, Sehgal added. ADVERTISEMENT While Bitcoin ETFs saw $616 million in outflows over the last two days—led by BlackRock's IBIT and Ark 21Shares' ARKB—Ethereum ETFs attracted inflows for a tenth straight day, signalling continued institutional interest in the altcoin despite broader market Vishwanath, Co-founder and CEO of Unocoin, said Bitcoin's current consolidation near $105,000 comes after a record high of $111,970 in May 2025. 'This healthy pause shows investor confidence amid growing institutional inflows and declining exchange supply. With increasing regulatory clarity and the U.S. government's supportive stance, the long-term sentiment remains positive.' ADVERTISEMENT Vishwanath added that forecasts are pointing toward potential peaks of $180,000 to $250,000 by year-end, though short-term volatility should be expected.'Investors should focus on macro trends and avoid being swayed by daily swings,' he said. 'This phase may be the calm before Bitcoin's next major leg up.' (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
02-06-2025
- Business
- Time of India
Crypto Prices Today: Bitcoin tops $105,000 as market eyes Fed signals and institutional flows
Bitcoin climbed past $105,000 on Monday, rebounding from weekend lows amid strong institutional demand and cautious investor optimism ahead of key macroeconomic events. As of 1:23 PM IST, the world's largest cryptocurrency was trading at $105,366, up 1% in the last 24 hours. Ethereum, however, slipped marginally by 0.1% to $2,506. The global cryptocurrency market cap rose 0.9% to $3.29 trillion, according to CoinMarketCap, with gains seen across several altcoins. XRP, Solana, Dogecoin, and Cardano edged up between 0.3% and 1.2%, while Bitcoin's dominance remained steady at 63.7%. Crypto Tracker TOP COIN SETS BTC 50 :: ETH 50 -3.95% Buy Smart Contract Tracker -6.00% Buy Web3 Tracker -8.04% Buy DeFi Tracker -10.01% Buy NFT & Metaverse Tracker -13.01% Buy TOP COINS (₹) Bitcoin 9,002,818 ( 0.86% ) Buy XRP 185 ( 0.48% ) Buy BNB 56,131 ( 0.4% ) Buy Ethereum 214,056 ( -0.23% ) Buy Tether 85 ( -0.27% ) Buy The market witnessed heightened volatility over the weekend after US President Donald Trump escalated trade tensions with new tariff threats, triggering risk-off sentiment across global markets. According to CoinSwitch Markets Desk, Bitcoin briefly dropped below $104,000, triggering over $600 million in liquidations—the highest in four months—before bouncing back above $105,000, supported by institutional buying around the $103,000 level. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » 'Bitcoin is trading steadily above $105,000, bouncing back from weekend lows of $103,200,' said Alankar Saxena, Co-founder and CTO of Mudrex. 'The market is now focused on macroeconomic cues, especially Fed Chair Jerome Powell's upcoming speech. Technically, $106,000 is a key resistance zone. A breakout above $106,800 could push the price toward $108,000.' Live Events On the flip side, failure to hold current levels could send Bitcoin back toward $103,500, he added. Delta Exchange's research analyst Riya Sehgal noted that Bitcoin is testing support near $103,900 within a descending broadening wedge pattern. 'A decisive move above $106,800 could lead to targets near $110,000. However, if $106,500 fails to hold, prices may dip toward $102,500 or even the $93,000–$97,000 range.' Ethereum faces resistance at $2,620. A breakout may lead to $2,720, but downside risks to $2,470 and $2,420 persist if bulls fail to reclaim control, Sehgal added. While Bitcoin ETFs saw $616 million in outflows over the last two days—led by BlackRock's IBIT and Ark 21Shares' ARKB—Ethereum ETFs attracted inflows for a tenth straight day, signalling continued institutional interest in the altcoin despite broader market choppiness. Sathvik Vishwanath, Co-founder and CEO of Unocoin, said Bitcoin's current consolidation near $105,000 comes after a record high of $111,970 in May 2025. 'This healthy pause shows investor confidence amid growing institutional inflows and declining exchange supply. With increasing regulatory clarity and the U.S. government's supportive stance, the long-term sentiment remains positive.' Vishwanath added that forecasts are pointing toward potential peaks of $180,000 to $250,000 by year-end, though short-term volatility should be expected. 'Investors should focus on macro trends and avoid being swayed by daily swings,' he said. 'This phase may be the calm before Bitcoin's next major leg up.'
Mint
21-05-2025
- Business
- Mint
Crypto markets news: Bitcoin price above $1,07,000 levels today, experts eye long-term growth
Crypto markets news: The world's biggest cryptocurrency reached a high of $107,995 on May 21, but remained between the $106-107k levels during the day, according to data on CoinMarketCap. At time of writing, Bitcoin was at $106,706.27 up 1.50 per cent from the previous day, with market capitalisation of $2.12 trillion, up 1.50 per cent day-on-day, and trading volumes down 2.04 per cent to $53.65 billion. According to the CoinSwitch Markets Desk, this is the first time since January that Bitcoin has surged past the $107k level and is 2 per cent away from its all-time high, as bullish momentum intensified. 'Bitcoin futures open interest rose by 10.65 per cent from last week to $74.35 billion, led by Binance with $12.28B, signaling growing leverage in the market. Institutional demand also played a role, with US spot BTC ETFs recording net inflows of $41.7 million yesterday, marking their fifth consecutive day of inflows,' they said. Himanshu Maradiya, Founder and Chairman, CIFDAQ noted that the cryptocurrency market 'remains in a consolidation phase'. According to Alankar Saxena, Co-founder and CTO of Mudrex, Bitcoin continues to build momentum, briefly testing the $107,000 level as bulls maintain control. 'Net volume delta on major exchanges has turned positive, reflecting growing spot demand. Historically, an increase in spot demand often led to key market tops, driven by rapid sentiment shifts. Notably, Bitcoin supply on exchanges has dropped to 7.1 per cent, the lowest since November 2018, indicating rising investor confidence and a shift toward long-term holding.' He expects that this reduction in sell-side pressure indicates further upside. 'Currently trading near $106,800, BTC faces resistance at $108,000, with support at $105,000, setting the stage for its next potential breakout,' Saxena noted. According to Alex Kuptsikevich, market analyst at FxPro, Bitcoin is being driven upwards by a crowd of retail investors, who are also driving the US stock market. 'Small players don't care that the US economy is slowing down, and the Fed is not going to cut rates. Traders are buying the S&P 500 and digital assets simply because they are rising…Traders are not particularly concerned about the fact that as Bitcoin grows, the number of fraudulent transactions increases,' he pointed out. CoinDCX research team thinks so. 'After the bulls managed to revamp a strong rise before the day's close. Despite a small drop in the volume, the markets have surged, which indicates a drop in the bearish interference,' it noted. Riya Sehgal, Research Analyst at Delta Exchange concurs, she feels that rebounding from $103k levels to $106k levels shows 'solid buyer interest at lower levels', and that the focus will now be at potentially moving toward $110,000 and new all-time highs. 'However, until that level is convincingly breached, the market may continue ranging, allowing for healthy accumulation,' Sehgal added. While he did not talk about all-time highs, Kuptsikevich also feels that 'if the resistance at 107K is broken, there are more chances to restore the uptrend'. Meanwhile, the second largest token Ethereum rose 0.35 per cent over the past 24 hours to $2,529.76, at time of writing, with market cap of $305.41 billion and trading volume of $22.59 billion, according to CoinMarketCap data. CoinSwitch Markets Desk noted that the token is holding near the $2,500 level and trading above both its 50- and 100-day moving averages. In fact, according to Sehgal, it has been showing stronger relative strength, gaining nearly 60 per cent over the last month and outperforming Bitcoin. 'Ethereum is trading around the $2,500 mark, a key psychological resistance. While structural indicators like the Golden Cross and ascending trendlines suggest a bullish setup, on-chain data points to short-term overheating. Elevated trading volumes and profit-taking around $2,500 could trigger a minor pullback or consolidation. In the near term, we expect volatility to remain elevated, with ETH needing to hold above $2,200 and BTC above $105,000 to sustain bullish momentum. Broader market sentiment remains cautiously optimistic as we await further confirmation of trend continuation,' she said. Harish Vatnani, Head of Trade at ZebPay, Ethereum has seen swings, moving from recent lows of $1,385 to $2,738 in a 97 per cent prices surge, 'The asset currently faces strong resistance at $2,850. If it breaks and closes above this level with good volumes, we can expect prices to rally further to $3,000 and $3,350,' he noted. On other altcoins, CoinDCX noted that Litecoin, Cardano, and Solana, are yet to reach their respective resistance, while the top gainers include Pi, OFFICIAL TRUMP, and Fartcoin, with 10 per cent to 13 per cent gains. Meanwhile, Pyth Network leads the losers with over a 7 per cent drop, followed by Story and Litecoin with 4 per cent each. CoinSwitch also noted that in DeFi, 'Aave has solidified its dominance by surpassing $24 billion in total value locked (TVL), now accounting for 20 per cent of the entire DeFi's TVL'. According to Investopedia, TVL is a metric used in the cryptocurrency sector to determine the total US dollar value of digital assets locked, or staked, on a particular blockchain. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
