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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)
Time of India
a day ago
- Business
- Time of India
Bitcoin holds above $104k as Fed signals hawkish pause; Altcoins trade mixed
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 . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo 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%. Crypto Tracker TOP COIN SETS Crypto Blue Chip - 5 -1.95% Buy DeFi Tracker -4.21% Buy AI Tracker -5.90% Buy NFT & Metaverse Tracker -8.66% Buy Web3 Tracker -9.01% Buy TOP COINS (₹) XRP 188 ( 0.88% ) Buy Ethereum 220,214 ( 0.76% ) Buy Bitcoin 9,107,680 ( 0.48% ) Buy BNB 55,992 ( -0.27% ) Buy Solana 12,666 ( -0.82% ) Buy '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 Mudrex. 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 » He 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.' Live Events 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 said. According 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 added. Despite 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.'
New Indian Express
2 days ago
- Business
- New Indian Express
US Stablecoin Bill to pave way for crypto's mainstream adoption: Exchanges
The US Senate has passed the GENIUS Act, which aims to regulate stablecoins, and crypto exchanges call this bill a major milestone as such regulatory clarity contributes to a shifting global crypto industry. The stablecoin (a type of cryptocurrency) bill will help provide a faster way to process transactions and stablecoins might turn into a mainstream form of payment. The passage of the GENIUS Act by the Senate marks the first clear signal from the US government that digital asset innovation and responsible regulation can go hand in hand. By establishing a framework for stablecoins, the Act lays the foundation for trust, transparency, and long-term growth, taking crypto mainstream, said Edul Patel, Co-founder and CEO of Mudrex. "For a rapidly growing market like India, it presents an opportunity to accelerate the work on the regulatory guidelines to potentially expand the stablecoins payments market," he added.
Time of India
2 days ago
- Business
- Time of India
From thrill to trust: How Gen-Z is redefining crypto investing in India
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel A few years ago, crypto investing in India was often seen as a high-stakes game—fuelled by the thrill of quick profits and meme-coin mania. But that's changing fast. Gen-Z and millennials, once drawn by the excitement, are now taking a more strategic approach—treating Bitcoin and other digital assets as long-term wealth to Edul Patel, CEO and Co-founder of Mudrex , today's young investors are no longer chasing overnight gains. 'The one common theme we hear from our users is that they just want to buy and hold. It's almost like no one sells Bitcoin anymore,' he told ET says the mindset shift has been especially noticeable over the past couple of years. 'Till a couple of years ago, people would start off with Rs 500 just to try and double their money in a few days. That's no longer the approach,' he said. 'Now, it's about parking funds regularly, doing SIPs, and making crypto a part of long-term asset holdings.'Mudrex data shows that this change is being driven primarily by Gen-Z and millennial investors. These younger cohorts are gradually allocating 3–5% of their portfolios to crypto, treating it more like digital gold than a lottery reason for this evolution is better access to information. Patel believes education is playing a key role in tempering unrealistic expectations. 'Early on, there was a lot of thrill-seeking behaviour. But now, that's not the case for the vast majority. People understand that past returns won't repeat, and they're incorporating that into their worldview.'Regulatory uncertainty hasn't deterred this new wave either. 'It is completely legal to buy, sell, and trade crypto in India,' Patel said, clarifying a common misconception. 'While there's no designated regulator yet, the government is actively working on it.'Despite the optimism, Patel advises caution. 'We typically recommend not investing more than 10% of your wealth in crypto. In fact, 3–5% is the sweet spot,' he said. He also encourages new investors to start small—Rs 2,000 to Rs 5,000 initially—before scaling up with consistent own investment style reflects this philosophy. 'I don't own stocks directly. I invest via mutual funds. Similarly, in crypto, I do SIPs in Bitcoin and Ethereum,' he revealed. 'It's not about timing the market—it's about time in the market.'The broader trend suggests that Indian crypto investors are maturing. From late-night trading frenzies to systematic investment plans, the landscape is changing—one Bitcoin at a regulatory clarity improves and financial literacy grows, crypto is steadily cementing its place in India's investment ecosystem—especially among the country's youngest and most tech-savvy investors.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
