Latest news with #VikramSubburaj
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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.
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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.
Time of India
13-06-2025
- Business
- Time of India
Bitcoin sinks below $103,000 as Israel-Iran conflict sparks global crypto selloff
Bitcoin and other major cryptocurrencies tumbled on Friday after Israel launched military airstrikes on Iran, triggering a wave of risk-off sentiment across global markets. The escalating geopolitical tensions rattled investor confidence, leading to a sharp selloff across crypto assets. At 10:40 am IST, Bitcoin was trading 3% lower at $104,458, having earlier touched an intraday low of $102,822, according to CoinMarketCap. The world's largest cryptocurrency is down over 4% in the past 24 hours. Ethereum plunged nearly 9% to $2,512, while the overall crypto market capitalisation dropped 4.2% to $3.24 trillion, wiping out nearly $140 billion in value. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I lost my wife, now my son is in danger, please help him! Donate For Health Donate Now Undo Israel-Iran Conflict Triggers Selloff The market reaction followed reports of Israeli military strikes on Tehran, with Israel claiming it had targeted Iranian nuclear facilities, missile factories, and senior military leaders in a "preemptive strike" aimed at halting Iran's nuclear ambitions. Crypto Tracker TOP COIN SETS DeFi Tracker 3.21% Buy BTC 50 :: ETH 50 -0.47% Buy Smart Contract Tracker -1.53% Buy NFT & Metaverse Tracker -5.04% Buy Web3 Tracker -5.94% Buy TOP COINS (₹) BNB 55,776 ( -2.4% ) Buy Bitcoin 8,958,838 ( -2.84% ) Buy XRP 181 ( -6.11% ) Buy Ethereum 215,291 ( -8.9% ) Buy Solana 12,324 ( -9.54% ) Buy Iranian state media confirmed the death of Hossein Salami, commander of Iran's Revolutionary Guards, while Israeli sources indicated that several senior Iranian officials and nuclear scientists were also likely killed. Israel declared a state of emergency, anticipating potential retaliatory strikes from Iran. 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 » Live Events The escalation comes amid deadlocked nuclear negotiations, with a sixth round of U.S.-Iran talks set to take place in Oman on Sunday. 'Bitcoin has reacted strongly to Israeli airstrikes in Iran and is now trading near $104,000,' said Vikram Subburaj, CEO of Giottus. 'Risk-off signals, including a surge in gold and oil, suggest uncertainty will continue to prevail. The 7-day options skew has dropped to -3.8%, the lowest since mid-April, as traders hedge aggressively.' He noted that the market could revisit the early $100,000 levels before any meaningful recovery. 'It's a sentiment reset, not a structural breakdown,' he added. Avinash Shekhar, Co-Founder & CEO of Pi42, said the correction underscores how closely crypto now mirrors broader macro events. 'Despite the volatility, crypto fundamentals remain strong. This is a reset, not a collapse, and such corrections have often paved the way for more resilient growth.' Riya Sehgal, Research Analyst at Delta Exchange, pointed out that Bitcoin's drop below the $105K–$106K support zone and rejection at $110.5K confirms a short-term trend reversal. 'A breakdown below $103K could expose $101.5K and $100K levels,' she said. 'Ethereum is also under pressure, with support at $2,500 being closely watched. If that breaks, $2,460 and $2,360 come into play.' Sehgal added that over $1.4 billion in long positions were liquidated following the geopolitical escalation. However, institutional interest remains steady — BlackRock's spot ETFs reportedly added 2,650 BTC and 36,640 ETH on June 12. Meanwhile, altcoins also mirrored Bitcoin's decline, registering steep losses across the board. Solana dropped 9.4%, Avalanche 10%, Chainlink 9%, Dogecoin 8.5%, Cardano 8.1%, Sui 8.7%, XRP 5.4%, Hyperliquid 4.8%, and BNB 2.3%. 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)
Time of India
11-06-2025
- Business
- Time of India
Crypto market rises ahead of US inflation data; Ethereum nears $2,800, Altcoins rally up to 8%
Bitcoin continued to hover above the $109,600 mark on Wednesday, with broader crypto markets extending gains amid renewed institutional interest and optimism around upcoming macroeconomic data. At 12:38 pm IST, Bitcoin was trading 0.2% higher at $109,690 after hitting an intraday low of $108,367, according to CoinMarketCap. Ethereum surged 4.5% to $2,793, breaking through key resistance levels and leading gains among major altcoins . The global cryptocurrency market capitalisation rose 1% to $3.45 trillion. Altcoins followed Bitcoin's lead, posting notable gains across the board. Solana advanced 5%, Dogecoin climbed 4%, and Cardano rose 3.7%. Hyperliquid led the rally among top altcoins with an 8.4% gain, while Sui and Shiba Inu added 6% and 3%, respectively. Uniswap's UNI token jumped 18% on favourable regulatory developments, while XRP and BNB saw modest gains of 0.3% and 1.3%. Crypto Tracker TOP COIN SETS DeFi Tracker 16.36% Buy NFT & Metaverse Tracker 7.47% Buy Web3 Tracker 6.98% Buy Smart Contract Tracker 6.69% Buy BTC 50 :: ETH 50 5.84% Buy TOP COINS (₹) Solana 14,247 ( 4.84% ) Buy Ethereum 238,324 ( 3.88% ) Buy BNB 57,390 ( 1.27% ) Buy XRP 197 ( 0.8% ) Buy Bitcoin 9,363,727 ( -0.03% ) Buy Vikram Subburaj, CEO of Giottus, noted that Bitcoin is consolidating just below the crucial $110,000 mark ahead of key U.S. inflation readings. 'This is a decisive week with CPI and PPI data expected. These numbers will set the tone for the upcoming FOMC meeting, where traders are watching for any signals on rate cuts,' he said. 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 » Subburaj also pointed to a rise in the Coinbase Premium Index, indicating institutional accumulation. 'Tether Treasury's surprise minting of $1 billion in USDT on the Tron network further supports market liquidity. The timing appears aligned with institutional OTC settlements,' he added. Live Events Riya Sehgal, Research Analyst at Delta Exchange, said Ethereum has shown strong momentum, breaking above $2,700 and consolidating near $2,800. 'Open interest has surged to a record $40 billion. A break above $2,900 could trigger liquidations worth $1.8 billion, potentially pushing ETH toward the $3,000 mark,' she noted. Sehgal added that Bitcoin and Ethereum ETFs saw net inflows of $431 million and $125 million, respectively, on June 10. Notably, BlackRock added 3,050 BTC and 30,080 ETH to its holdings, reinforcing institutional confidence in the sector. Also Read: Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven According to CoinSwitch Markets Desk, Ethereum's long-term appeal remains strong with 34.6 million ETH—around 28% of the total supply—now staked in the network's proof-of-stake contract, valued at nearly $90 billion. The circulation of PayPal's PYUSD also returned to its $1 billion peak, suggesting a rebound in stablecoin demand.
Economic Times
11-06-2025
- Business
- Economic Times
Crypto market rises ahead of US inflation data; Ethereum nears $2,800, Altcoins rally up to 8%
Bitcoin continued to hover above the $109,600 mark on Wednesday, with broader crypto markets extending gains amid renewed institutional interest and optimism around upcoming macroeconomic data. ADVERTISEMENT At 12:38 pm IST, Bitcoin was trading 0.2% higher at $109,690 after hitting an intraday low of $108,367, according to CoinMarketCap. Ethereum surged 4.5% to $2,793, breaking through key resistance levels and leading gains among major altcoins. The global cryptocurrency market capitalisation rose 1% to $3.45 trillion. Altcoins followed Bitcoin's lead, posting notable gains across the board. Solana advanced 5%, Dogecoin climbed 4%, and Cardano rose 3.7%. Hyperliquid led the rally among top altcoins with an 8.4% gain, while Sui and Shiba Inu added 6% and 3%, respectively. Uniswap's UNI token jumped 18% on favourable regulatory developments, while XRP and BNB saw modest gains of 0.3% and 1.3%. Vikram Subburaj, CEO of Giottus, noted that Bitcoin is consolidating just below the crucial $110,000 mark ahead of key U.S. inflation readings. 'This is a decisive week with CPI and PPI data expected. These numbers will set the tone for the upcoming FOMC meeting, where traders are watching for any signals on rate cuts,' he also pointed to a rise in the Coinbase Premium Index, indicating institutional accumulation. 'Tether Treasury's surprise minting of $1 billion in USDT on the Tron network further supports market liquidity. The timing appears aligned with institutional OTC settlements,' he Sehgal, Research Analyst at Delta Exchange, said Ethereum has shown strong momentum, breaking above $2,700 and consolidating near $2,800. 'Open interest has surged to a record $40 billion. A break above $2,900 could trigger liquidations worth $1.8 billion, potentially pushing ETH toward the $3,000 mark,' she noted. ADVERTISEMENT Sehgal added that Bitcoin and Ethereum ETFs saw net inflows of $431 million and $125 million, respectively, on June 10. Notably, BlackRock added 3,050 BTC and 30,080 ETH to its holdings, reinforcing institutional confidence in the sector. Also Read: Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven ADVERTISEMENT According to CoinSwitch Markets Desk, Ethereum's long-term appeal remains strong with 34.6 million ETH—around 28% of the total supply—now staked in the network's proof-of-stake contract, valued at nearly $90 billion. The circulation of PayPal's PYUSD also returned to its $1 billion peak, suggesting a rebound in stablecoin demand.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
