As of 11:07 am IST, Bitcoin was trading at $95,560, up 2%, with an intraday high of $95,824. Ethereum was also up 1.9%, trading at $3,409.
Major altcoins saw notable gains as well, with XRP rising 12.4%, Solana climbing 8%, Cardano gaining 10%, and Stellar increasing by 21%. The global crypto market cap grew by around 2.9%, reaching $3.36 trillion, while trading volume dropped by 9.15% to $99.6 billion. With the holiday season winding down, a rise in trading volume is expected by next week.
Crypto Tracker
“The New Year has brought renewed buying interest to the broader crypto market with tokens such as XRP, Chainlink, and Cardano seeing gains. Bitcoin too is up almost 2%, trading near $95,000. ETFs saw strong year-end inflows with ETH ETF’s net inflows standing at $36 million, suggesting a revival in institutional trading activity. With Trump assuming office soon acting as a major catalyst, we could see some price action in the coming weeks,” said Edul Patel, CEO of Mudrex.Also Read: Top 6 fast-growing cryptocurrencies to watch for maximum profit potential
Meanwhile, CoinSwitch Markets Desk noted, “Bitcoin remains range-bound between $92,300 and $96,000, facing resistance amid weakening U.S. retail demand. The Coinbase Premium Index hit a 12-month low, reflecting heightened sell pressure, while long-term holders, sitting on significant profits, pose a risk of new year sell-offs.”
Vikram Subburaj, CEO of Giottus, added, “Bitcoin remains range-bound around $95,000, with $94,000 acting as a key support level.”
Also Read: Smaller Indian cities join the crypto boom, expanding beyond major metros
According to CoinMarketCap, stablecoins now make up 91.68% of the total 24-hour crypto market volume, at $91.32 billion. Bitcoin’s market cap surged to $1.89 trillion, and its volume in the last 24 hours declined by 28.5% to $29 billion.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
