Bitcoin Price Above $61,000, Ether and Majority Altcoins See Losses Ahead of BTC Halving

The crypto chart mostly reflected losses on Friday, April 19. Bitcoin, for instance, is trading at $61,815 (roughly Rs. 51.6 lakh) having recorded a loss of 0.23 percent. This is Bitcoin’s trading value in India, as per the crypto price tracker by Gadgets360. On international exchanges like Binance, Bitcoin is trading at $62,160.14 (roughly Rs. 51.9 lakh). For most part of this week, Bitcoin has managed to remain under the shadow of volatility, ahead of its fourth halving event that is expected to take place between April 19 and April 21.

“Over the last few hours, $34.03 million in Bitcoin long positions have been liquidated. But the overall sentiment remains bullish as on-chain metrics show that over $1.7 billion worth of BTC have been accumulated by holders in the last few days. BTC’s current price point is acting as a temporary support,” Shivam Thakral, CEO of BuyUcoin told Gadgets360.

Ether clocked a loss of 0.45 percent on Friday. With this, the trading value of the asset hit $2,999 (roughly Rs. 2.50 lakh) on Gadgets360’s crypto price tracker. On Binance, ETH is trading at $ 3,075.52 (roughly Rs. 2.56 lakh).

Majority cryptocurrencies, as of Friday, are trading in the reds.

Solana, Cardano, Ripple, Shiba Inu, Avalanche, Tron, and Polkadot — all registered losses on Friday.

Polygon, Litecoin, and Uniswap also stayed on the loss-making side of the crypto chart.

In the midst of the ongoing crypto market volatility, the overall sector valuation stands at $2.26 trillion (roughly Rs. 1,88,78,119 crore), shows CoinMarketCap.

“Geopolitical unrest, with Isfahan airport explosions, heightens pressure. The upcoming halving event also exacerbates uncertainty. Ethereum-based altcoins, meanwhile, offer avenues for growth and innovation within cryptocurrency, especially in gaming and Web3 applications,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Near Protocol, Tether, Uniswap, and Chainlink managed to see small gains despite the ongoing volatility.

“Immutable X (IMX) rose by 2.5 percent in 24 hours and gained traction with partnerships and gaming adoption, fostering token demand. ApeCoin (APE) rose by 0.09 percent and displayed resilience, enhancing utility via governance proposals,” Menon noted.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.