The cryptocurrency market remains unstable, with most digital assets experiencing consistent declines. On Wednesday, July 3, Bitcoin (BTC) saw a price drop of approximately 1.37 percent. On international exchanges such as CoinMarketCap, BTC is trading at $60,827 (approximately Rs. 50.7 lakh), down $810 (approximately Rs. 67,638) from its price at the start of the week. In contrast, Indian exchanges like CoinSwitch and WazirX show BTC trading at $66,332 (approximately Rs. 55.3 lakh) on Wednesday.
“The crypto market fell after US job openings data exceeded expectations. Technically, the market is slightly negative due to BTC’s bearish trend. However, positive ETF inflows are a good sign. Currently, Solana is outperforming BTC and ETH due to ETF hype, but BTC could still decline further,” the CoinDCX markets desk told Gadgets360.
Ether (ETH) also recorded losses alongside BTC on Wednesday, according to the Gadgets360 crypto price tracker. At the time of writing, ETH was trading at $3,353 (approximately Rs. 2.80 lakh) on international exchanges, while on Indian exchanges, it was priced at $3,616 (approximately Rs. 3.02 lakh). “ETH, after reaching a recent peak of $4,093 (approximately Rs. 3.41 lakh), saw a sharp correction, falling by almost 31 percent. The asset started trading in a ‘Descending Triangle’ pattern, broke out above the pattern, and rallied up to $3,977 (approximately Rs. 3.32 lakh). However, the bulls failed to cross the psychological level of $4,000 (approximately Rs. 3.34 lakh), leading to profit booking and a drop to $3,240 (approximately Rs. 2.70 lakh),” the ZebPay trade desk told Gadgets360.
Most cryptocurrencies joined BTC and ETH in experiencing losses on Wednesday.
