On Wednesday, October 18, Bitcoin’s profit was 0.55%. As of the time of writing, Bitcoin is worth $28,433 (approximately Rs. 23.6 lakh). The value of Bitcoin has surged by $258 (approximately Rs. 21,470) in the last 24 hours. Surprisingly, despite the fake news about the spot BTC ETF fading like a bubble, BTC still managed to keep its value above $28,000 (approximately Rs. 23 lakh). While BTC posted profits, several altcoins, including Ethereum, posted losses.
“BTC has managed to regain the 200-day simple moving average (SMA) and is currently holding above it. However, for BTC to continue its upward momentum, it needs to clear and sustain the key resistance level of $28,600 (approximately Rs. 25,02,000), “The CoinDCX team told Gadgets 360.
In a rather unconventional price move, Ethereum is not following Bitcoin’s price trajectory today. ETH lost 1.45% and is currently worth $1,566 (approximately Rs. 1.3 lakh).
The CoinDCX team added: “ETH is showing signs of weakness and it is crucial for ETH to maintain its position above the major support level at $1,530 (approximately Rs 1.34 lakh) as a fall below this price may lead to further declines. “
Solana, Bitcoin Cash, Leo, Bitcoin SV, Nem, and Status followed Bitcoin up the price ladder with smaller gains.
Apart from this, all other cryptocurrencies are losing money today.
These include Tether, USD Coin, Ripple, Cardano, Dogecoin, Polygon, Tron and Litecoin.
Prices of Shiba Inu, Chainlink, Avalanche, Stellar and Monero also fell.
The valuation of the entire crypto market has increased by just 0.04% in the past 24 hours. However, the market capitalization of the cryptocurrency industry still changed on the last day and continued to remain at the USD 1.09 trillion (approximately Rs. 90,69,617 crore) mark. coin market cap.
“In other altcoin news, famed layer 1 blockchain Fantom (FTM, -4.7%) is making headlines due to a vulnerability. Two Fantom Foundation wallets appear to have surfaced due to the exploit of a multi-chain bridge Breach. The resulting losses are said to be around $650,000. This incident is a good reminder to all cryptocurrency traders that while self-custody does seem like a great way to hold your funds, any small mistake can also result in funds being completely lost. Losses.” Shubham Hudda Markets Desk, senior manager at CoinSwitch, told Gadgets360.
Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided herein is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendations, predictions or any other information contained in the article.
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