Cryptocurrency Prices Today: Bitcoin Retreats to $42,000 Threshold Amid Profit-Taking Across Major Crypto Assets
Bitcoin experienced a price surge of $1,077 (approximately Rs. 89,524) in the past 24 hours.The overall cryptocurrency market displayed a sea of green on Tuesday, December 19, with most cryptocurrencies registering gains. Bitcoin, for instance, experienced a 4.75 percent increase in value over the last 24 hours. As of the current writing, the value of Bitcoin was recorded at $42,072 (approximately Rs. 35 lakh). This indicates a price surge of $1,077 (roughly Rs. 89,524) within the last day. This notable uptick in Bitcoin’s price follows a recent phase of correction marked by losses for the cryptocurrency.
In a resurgence for the crypto market following a short correction, both Bitcoin and Ethereum have witnessed gains of 4.84% and 2.92%, respectively, in the last 24 hours. The rally is potentially fuelled by Galaxy Digital’s commitment to revive collapsed crypto projects, including FTX.
Majority cryptocurrencies clocked notable profits on Tuesday. These include Binance Coin, Ripple, Solana, and Cardano.
Other profit-making cryptocurrencies include Avalanche, Dogecoin, Polkadot, Tron, Polygon, Chainlink, Shiba Inu, Litecoin, Bitcoin Cash, Uniswap, and Stellar.
The overall crypto market cap rose by 3.91 percent in the last 24 hours. It currently stands on the mark of $1.61 trillion (roughly Rs. 133,95,111 crore), as per CoinMarketCap.
As per market analysts, imminent bull run and heightened anticipation surrounding the Bitcoin ETF, has kept trader sentiments positive, further boosting the prices of these digital assets.
Only a small number of altcoins recorded losses. These include Qtum, SushiSwap, Braintrust, Ardor, and Underdog.
One month following the admission of guilt by Binance and its former CEO CZ for violating US anti-money laundering regulations, a federal judge has given approval to the settlement reached with the Commodity Futures Trading Commission (CFTC). The fate of Binance’s ex-CEO CZ regarding potential jail time, in addition to the imposed fine, remains uncertain.
