Crypto Price Today: Bitcoin Trades Close to $100,000, Most Altcoins Reflect Profits
The cryptocurrency market experienced a notable surge in value on Monday, January 6, with the majority of cryptocurrencies posting gains. Bitcoin, the largest and most valuable crypto asset, saw a 1.23% increase in value over the past 24 hours on global exchanges, reaching $99,537 (approximately ₹85.4 lakh), as per CoinMarketCap data. On Indian exchanges such as CoinDCX and Giottus, Bitcoin’s price rose by about 1%, reaching $103,114 (roughly ₹88.5 lakh).
“After 10 days of sideways movement, BTC is nearing the critical $99,500 (around ₹85.3 lakh) mark with six consecutive days of gains. If Bitcoin fails to break this resistance, we could see a market-wide downturn. However, if Bitcoin surpasses $100,000 (roughly ₹85.8 lakh) with significant trading volume, it may trigger a major rally similar to January 2024,” the CoinSwitch Markets Desk told Gadgets 360.
Ether also joined Bitcoin in the profit zone. On global exchanges, Ether’s price rose by 1.08% over the past 24 hours to $3,683 (approximately ₹3.16 lakh). On Indian platforms, ETH is trading at $3,785 (roughly ₹3.24 lakh) after a 0.65% increase.
The CoinSwitch Markets Desk commented, “Ethereum is struggling to set new highs against Bitcoin, with the ETH/BTC pair trading around 0.037 BTC per ETH. For Ether to outperform Bitcoin, it needs to break past this ratio and reach 0.04 BTC.”
The Gadgets 360 crypto price chart showed that most cryptocurrencies traded in the green on Monday. Cardano, Avalanche, Polkadot, Uniswap, Litecoin, and Leo joined BTC and ETH in posting gains. Monero, Cosmos, EOS Coin, and Bitcoin SV also showed positive movement.
The overall cryptocurrency market cap increased by 0.53% over the past 24 hours, standing at $3.52 trillion (roughly ₹3,02,11,385 crore), according to CoinMarketCap. Bitcoin currently holds a 55.74% dominance in the market.
However, some cryptocurrencies registered losses on Monday, including Tether, Solana, Binance Coin, Dogecoin, Tron, Shiba Inu, and Stellar.
“Solana is facing resistance at the 50-day simple moving average (SMA) but shows promise as the 20-day exponential moving average (EMA) begins to trend upward. Sui also exhibits a bullish trend, with buyers pushing its price above $5 (roughly ₹430). Dogecoin’s recent upward momentum, driven by whale activity, could see it hit $1 (approximately ₹85) and achieve a market cap of $100 billion (roughly ₹8,58,286 crore),” said Avinash Shekhar, Co-Founder and CEO of Pi42, to Gadgets 360.
Cryptocurrency is an unregulated form of digital currency, not recognized as legal tender, and is subject to high market risks. The information presented in this article is solely for informational purposes and should not be interpreted as financial, trading, or any other form of professional advice. It does not represent a recommendation, endorsement, or forecast from NDTV.
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