Bitcoin and Ether Post Small Gains as Altcoins Exhibit Mixed Reactions Amid Increasing Selling Pressure

Bitcoin Gains Over 2% on July 10, Reaching $59,304 Amid Mixed Altcoin Performance

The cryptocurrency market has been navigating through a period of heightened volatility driven by a range of macroeconomic factors. As of Wednesday, July 10, Bitcoin exhibited a notable gain of over two percent, bringing its value up to $59,304 (approximately ₹49.5 lakh) on international exchanges such as CoinMarketCap. On Indian exchanges, Bitcoin mirrored this positive trend, trading within the range of $57,906 (roughly ₹48.3 lakh) to $63,577 (about ₹53 lakh).

The market’s recent performance reflects an ongoing adjustment as it absorbs the impact of a significant Bitcoin release by the German government, which has contributed to the current selling pressure. Despite these challenges, Bitcoin managed to rise by nearly three percent over the last 24 hours. According to Shivam Thakral, CEO of BuyUcoin, the crypto market is likely to remain volatile in the near term. He noted that if Bitcoin can surpass the $60,000 threshold and maintain this level for at least two weeks, it could signal a more sustained upward momentum.

Ether displayed a mixed performance on July 10, showing different trends on national and international exchanges. On international platforms, Ether saw a modest gain of 1.06 percent, trading at $3,115 (approximately ₹2.6 lakh). In contrast, on Indian exchanges, the price of Ether hovered around $3,313 (roughly ₹2.76 lakh) after experiencing a slight decline of 1.7 percent.

These fluctuations underscore the broader trend of varied movements within the altcoin market, as different cryptocurrencies react differently to prevailing market conditions. As the crypto market continues to adjust to external economic pressures and internal dynamics, investors and traders remain cautious, watching for further signs of stability or potential shifts in market trends.