Bitcoin Inches Closer to $25,000, ETH and Other Altcoins See Gains

Bitcoin reflected small gains on both national and international crypto exchanges on Thursday, February 23. The oldest cryptocurrency is trading higher by 1.03 percent at a price point of $24,445 (roughly Rs. 20 lakh). BTC has been hovering around the $25,000 (roughly Rs. 20.6 lakh) mark for a while now but is yet to break the resistance point. In the last 24 hours, the value of BTC increased by $385 (approximately Rs.31,872).

ether managed to make a small profit similar to Bitcoin As featured by Gadgets 360 crypto price tracker, On Thursday, ETH was trading at $1,669 (roughly Rs. 1.38 lakh), up 1.47 percent.

From binance coin, cardano, polygonAnd solana To polka dot, Litecoin, tronAnd Uniswap – All made modest profits.

even dog coin And Shiba Inu registered profits of 1.58 per cent and 4.23 per cent, respectively. While DOGE is trading at $0.086 (roughly Rs.7), SHIB is priced at $0.000013 (roughly Rs.0.001111).

The total crypto market cap increased by 1.57 percent in the last 24 hours. According to coinmarket capAt the time of writing, the valuation of the global crypto market was $1.57 trillion (roughly Rs. 92,09,829 crores).

“The news that the US will default if the debt ceiling is not raised has accelerated the inflow of funds into bitcoin which is driving the current rally in the world’s largest digital asset. “Clarity on US regulations around digital assets along with calculated execution of policies is key to the overall growth of the crypto industry,” Tarusha Mittal, COO and co-founder of DApps and Uniforms, told Gadgets 360.

The US Federal Open Market Committee (FOMC) has indicated in its latest meeting that it may hike interest rates more in the US with an aim to curb inflation.

Against the backdrop of this development, including the stablecoin pegged against the US dollar lanyard, usd coinAnd binance usd – All recorded price drop.

These were joined by other altcoins as well avalanche, chain link, cosmos, LeoAnd Monero among others.

Industry insiders have predicted that the crypto market will see more volatility in the coming days.

“A sudden spike in BTC price may encourage investors to book profits and liquidate their positions. Profit-booking may lead to some downside in BTC price. Asian factors such as Hong Kong regulations and the opening up of the Chinese economy may also are making a significant impact on the crypto market. This shows that Asia has an important role to play in the success of blockchain and crypto,” Mittal said.

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