Crypto Price Update: Bitcoin Hits $96,800 as Altcoins Hold Gains
The cryptocurrency market continues to show positive momentum, with Bitcoin crossing the $96,800 mark and several altcoins maintaining their upward trends. On Friday, January 3, the crypto price charts reflected more gains than losses, marking the third consecutive day of profitability.
Bitcoin Performance: Steady Growth
Bitcoin (BTC) recorded a 1.82% rise on international exchanges over the past 24 hours, trading at $96,863 (approximately Rs. 83.05 lakh), according to CoinMarketCap. Meanwhile, on Indian platforms like BuyUCoin, Bitcoin was priced slightly higher at $97,042 (approximately Rs. 83.2 lakh), reflecting a 2.28% increase.
Market analysis highlights that Bitcoin’s upward momentum is driven by improved investor sentiment, as seen in the rising Fear-Greed Index. Additionally, the 24-hour trading volume surged by 57.3%, reaching $131.74 billion (roughly Rs. 11,29,372 crore), signaling increased participation from retail and institutional investors alike.
“Bitcoin is currently testing immediate resistance at $98,400 (roughly Rs. 84.3 lakh), with support levels holding firm at $95,000 (roughly Rs. 81.4 lakh),” said Edul Patel, CEO of Mudrex.
Ethereum’s Progress and Market Trends
Ethereum (ETH) also registered notable gains, with its value rising by 2.05% to $3,460 (approximately Rs. 2.96 lakh) on global exchanges. On Indian platforms such as CoinSwitch and CoinDCX, ETH prices reached around $3,711 (approximately Rs. 3.18 lakh).
Despite the positive trend, ETH is yet to break the critical $3,500 (approximately Rs. 3 lakh) mark. However, December saw record inflows into Ethereum-focused exchange-traded funds (ETFs), totaling close to $2 billion (approximately Rs. 17,145 crore)—double the figure from November.
“The ongoing inflows into Ethereum ETFs indicate growing interest from institutional investors, which could further solidify Ethereum’s position in the market,” noted analysts at the CoinSwitch markets desk.
Market Overview and Notable Movements
The total cryptocurrency market capitalization surged by 2.03% in the last 24 hours, reaching $3.41 trillion (approximately Rs. 2,92,29,974 crore). While most cryptocurrencies showed gains, a few faced losses, including Binance Coin (BNB), Litecoin (LTC), Cronos (CRO), EOS Coin (EOS), and Zcash (ZEC).
“Despite occasional setbacks due to regulatory pressures and market instability, patterns like the ascending triangle in Ethereum reflect essential recovery phases for 2025. These technical formations are key to paving the way for broader adoption as the technology advances,” said Avinash Shekhar, Co-Founder and CEO of Pi42.
Conclusion
The crypto market continues to recover, with strong performances from leading assets like Bitcoin and Ethereum. While the overall outlook remains positive, investors should remain cautious and consider market volatility and external factors such as regulatory developments.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always conduct thorough research and consult with a financial advisor before making investment decisions.