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The cryptocurrency market showed little movement over the weekend, maintaining a sluggish trend. Today, Bitcoin experienced a 1.55 percent drop on international exchanges, trading at $96,019, according to CoinMarketCap.
A similar decline was observed on Indian exchanges, where Gadget 360’s crypto price tracker recorded Bitcoin at $99,734 following a 1.50 percent dip over the past 24 hours.
“Markets continue to slide slowly downward as Bitcoin once again tests the $96,200 mark. If BTC manages to hold this level, we could see a brief relief rally before the next significant move,” the CoinSwitch markets desk said.
By Ropafadzo Mashawi
Ether also recorded losses, with its price falling by 1.15 percent on global exchanges over the past day. The second-largest cryptocurrency by market capitalization is currently trading at $2,666 internationally. On Indian exchanges, Ether’s value declined by 1.30 percent, settling at $2,664 on Monday.
The market remains highly volatile due to a series of ongoing developments, which have overshadowed any potential upward momentum in the near term.
“In a recent update, Grayscale and the New York Stock Exchange (NYSE) have submitted an application to the SEC for the first US Cardano ETF under the Grayscale Cardano Trust. Meanwhile, Argentine lawyers have filed fraud charges in criminal court against President Javier Milei after he initially promoted and later disowned the LIBRA meme coin.
Additionally, Indian authorities have seized nearly $190 million worth of cryptocurrency linked to the infamous BitConnect scam, which defrauded 4,000 investors across 95 countries in 2018. These events have contributed to the market’s inability to generate the bullish momentum needed over the weekend,” the CoinDCX Research Team told.
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