Bitcoin and Ether showed contrasting market movements on Wednesday, revealing an internal division within the crypto market. While Bitcoin hovered just below the $2,380 (roughly Rs. 1.97 lakh) mark, Ether approached the upper boundary of its range. The CoinDCX team noted that Ether is presently trading above the 20 and 50 Exponential Moving Averages (EMA), signaling positivity.
Rajagopal Menon, Vice President, highlighted potential shifts in US crypto regulations as private companies explore new use cases for digital assets. Menon pointed out that the William’s percentage indicator indicates overbought conditions for the token, and upcoming days will reveal if this leads to a definitive uptrend, aligning with other bullish indicators.
Bitcoin recorded a slight loss of 0.09 percent, with its trading value at $42,812 (roughly Rs. 35.5 lakh) at the time of writing. Despite volatile macro factors, Bitcoin’s market stability has been encouraging, briefly crossing $43,000 (roughly Rs. 35.6 lakh) levels before stabilizing at its current price.
According to the CoinSwitch Markets Desk, Bitcoin continues to trade in a subtle uptrend narrow channel with lower volatility. The cryptocurrency has printed five consecutive monthly green candles following recent ETF developments and the upcoming halving in April. Observers are eager to see if Bitcoin records another monthly green close, a rarity in the last seven years.
In contrast, Ether experienced gains on Wednesday, trading at $2,361 (roughly Rs. 1.96 lakh) with a 2.09 percent increase. Over the last 24 hours, Ether’s price rose by $50 (roughly Rs. 4,150), indicating a positive trajectory amidst broader crypto market dynamics.
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