Bitcoin Enters April With Small Gains, Altcoins See Slight Relief From Volatility

The month of March witnessed massive volatility in the crypto sector, with Bitcoin hitting a new high of $73,000 (approx. 60.8 lakhs). On Monday, April 1, Bitcoin recorded a modest gain of 1.35 percent to trade at $67,014 (roughly Rs. 55.8 lakh) in India. The price of Bitcoin, the most expensive asset of the crypto-block, has not seen much change from its value last week as we enter April. On Binance, the asset is trading at a slightly higher price of $70,950.37 (roughly Rs. 59 lakh).

“Since last week, Bitcoin has been trying to break the $71,500 (approx. Rs. 59.6 lakh) resistance just below the $70,000 level. It will be interesting to see how Bitcoin’s price action reflects this halving as the fourth quarter continues. Bitcoin halving is only about 22 days away,” BuyUcoin CEO Shiv Thakral told Gadgets360 while commenting on Bitcoin’s momentum.

Ether Followed Bitcoin And small gains were recorded on April 1. At the time of writing, ETH was trading at $3,395 (roughly Rs. 2.83 lakh).

“While ETH is experiencing overall positive price action, its liquid supply appears to be dwindling. According to Glassnode data, only 11 percent of ETH’s total supply is currently available for active trading. , which is down from 15.8 percent at the same time last year. However, judging by investor sentiment and the way the whale has rallied, it has only increased ETH’s price by more than 50 percent since the start of 2024,” Parth said. Chaturvedi, Investment Lead, CoinSwitch Ventures told Gadgets360.

Most of the altcoins broke out of the volatile phases of the weekend and settled on the profit side of the crypto chart on Monday.

These include Solana, the wave, USD coins, Dogecoin, Avalanche, PolkadotAnd Bitcoin Cash.

Small gains have also been registered by Tron, Polygons, Litecoin, Close to the protocol, CosmosAnd Cronus.

“DOGE emerged as one of the top gainers with gains of over 25 percent in the past seven days, currently trading at $0.17 (approx. Rs. 14.52). Another dog-themed meme The coin entered the meme coin big leagues over the weekend. Dogwifhat (WIF; +6.2 percent) has become the third largest meme coin with over 60 percent weekly gains,” Chaturvedi noted.

The overall crypto market cap increased by 0.48% in the last 24 hours. The sector is currently valued at $2.67 trillion (approximately Rs. 2,22,68,721 crore). CoinMarketCap.

While most altcoins are trading in gains on Monday, a significant number of cryptocurrencies also posted losses on Monday. These include Tether, Binance coin, Cardano, Sheba Anu, Chain LinkAnd to change.

Market analysts have warned investors to be cautious as overall, the crypto market continues to be very greedy.

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