Crypto Market Rebounds as Bitcoin, Ether Show Gains
The cryptocurrency market experienced a rebound on Wednesday, with most digital assets registering profits. Bitcoin saw a 1.46 percent price increase on international exchanges, trading at $97,433 (roughly Rs. 84 lakh), according to CoinMarketCap data. Similarly, on Indian exchanges like CoinDCX and CoinSwitch, Bitcoin’s price rose by over 1.45 percent, reaching around $103,722 (roughly Rs. 89.6 lakh).
Ether followed Bitcoin’s trajectory to show signs of price recovery on national as well as international exchanges on Wednesday. The asset grew by 1.32 percent in value on international exchanges, trading at $3,220 (roughly Rs. 2.78 lakh). According to Indian exchanges, ETH is trading at $3,412 (roughly Rs. 2.95 lakh).
“Bitcoin is currently marking a strong recovery. The markets desk at CoinSwitch commented on the market situation. They noted that this comes after the sharp dip experienced over the past few days. “The rebound can be attributed to better-than-expected Producer Price Index (PPI) data, which brought renewed optimism to the market. However, all eyes are now on today’s Consumer Price Index (CPI) release. This event could introduce fresh volatility. It might potentially shift the market’s direction.”
Tech Newsroom 24/7 