BTC enters April with slight gains, altcoins also see small profits

In March, the cryptocurrency industry experienced huge ups and downs, with Bitcoin hitting a new high of over $73,000 (approximately 6.08 million coins). Bitcoin edged up 1.35% in India on Monday, April 1, trading at $67,014 (approximately Rs. 5.58 crore). Heading into April, Bitcoin is the most expensive asset in the cryptocurrency block, with its price showing no significant changes from last week. On Binance, the asset is trading at a slightly higher price of $70,950.37 (roughly Rs. 5.9 million).

“Bitcoin has been trying to break through the $71,500 (roughly Rs. 5.96 lakh) resistance since last week, only to fall back to $70,000 levels. With only about 22 days left until the fourth Bitcoin halving, look at Bitcoin It will be interesting to see how coin price action unfolds this halving,” BuyUcoin CEO Shivam Thakral told Gadgets360, commenting on Bitcoin’s trajectory.

Ethereum followed in the footsteps of Bitcoin and posted modest gains on April 1. As of writing this article, Ethereum is trading at $3,395 (roughly Rs. 2.83 lakh).

“While ETH’s overall price action is positive, its liquidity supply appears to be declining. According to data from Glassnode, only 11% of the total ETH supply is currently available for active trading, down from 15.8% in the same period last year. However, considering that investors Sentiment and the accumulation pattern of whales has only driven the price of ETH up over 50% since the beginning of 2024,” Parth Chaturvedi, head of investments at CoinSwitch Ventures, told Gadgets360.

Most altcoins emerged from the volatile phase over the weekend and settled on the profit side of the cryptocurrency charts on Monday.

These include Solana, Ripple, USD Coin, Dogecoin, Avalanche, Polkadot, and Bitcoin Cash.

Tron, Polygon, Litecoin, Near Protocol, Cosmos, and Cronos also made small profits.

“DOGE became one of the top gainers in the past seven days, gaining over 25% and is currently trading at $0.17 (roughly Rs. 14.52). Over the weekend, another dog-themed meme coin entered the meme coin scene Alliance. Dogwifhat (WIF; +6.2%) has become the third largest meme coin with weekly gains of over 60%,” Chaturvedi noted.

The overall cryptocurrency market capitalization increased by 0.48% in the past 24 hours. The industry is currently valued at $2.67 trillion (approximately Rs. 22,268,721 crore). coin market cap.

While most altcoins traded higher on Monday, a significant number of cryptocurrencies also posted losses on Monday. These include Tether, Binance Coin, Cardano, Shiba Inu, Chainlink and Uniswap.

Market analysts caution investors to remain cautious as, overall, the cryptocurrency market remains in a state of extreme greed.

Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any losses incurred as a result of any investment based on any perceived recommendations, predictions or any other information contained in the article.