Bitcoin Hovers Close to $110,000, Most Altcoins Mint Profits-OxBig News Network

The crypto price charts brimmed with greens on Wednesday, June 11 as most cryptocurrencies reflected notable profits. Bitcoin showed a minor price rise of under one percent to trade at $109,500 (roughly Rs. 93.6 lakh) on international exchanges. The asset briefly touched the price point of $110,000 (roughly Rs. 94.06 lakh) before retreating slightly. On Indian exchanges, BTC price dipped by 0.40 percent, bringing its value to $111,034 (roughly Rs. 94.9 lakh). The market continues to show signs of mild volatility, prompting analysts to urge investors to proceed with caution.

“Bitcoin’s breakout above $110,500 (roughly Rs. 94.4 lakh)—its highest level in two weeks—reflects a resurgence of confidence among institutional and retail investors alike. This climb not only signals renewed momentum in the market but also underscores the resilience of digital assets in the face of previous volatility,” said Avinash Shekhar, Co-Founder and CEO, Pi42 told Gadgets 360.

Ether reflected gains of over 4.60 percent to trade at $2,793 (roughly Rs. 2.38 lakh) on foreign exchanges. The asset also minted profits close to four percent on Indian exchanges like CoinSwitch and CoinDCX to retail at $2,800 (roughly Rs. 2.39 lakh).

“The surge in Ethereum price reflects growing institutional confidence and network fundamentals. BlackRock’s iShares Ethereum Trust has recorded 23 consecutive trading days without an outflow, demonstrating sustained institutional demand,” Himanshu Maradiya, Founder and Chairman, CIFDAQ group told Gadgets 360.

The crypto price tracker by Gadgets 360 showed majority cryptocurrencies trading in profits.

These include Binance Coin, Tron, Cardano, Avalanche, Bitcoin Cash, Stellar, Shiba Inu, and Litecoin.

Monero, Near Protocol, Cronos, EOS Coin, ZCash, and Bitcoin SV also registered profits on the price charts.

“As the US and China negotiation teams agree on a trade framework after two days of talks in London, the development is expected to have a positive impact on crypto markets,” said the CoinDCX research team.

The market cap of the crypto sector rose by 0.81 percent in the last 24 hours. With this, the valuation of the sector has come to $3.45 trillion (roughly Rs. 2,94,86,218 crore), showed CoinMarketCap.

Meanwhile, a handful of altcoins did register losses on Wednesday. These include Ripple, Solana, Dogecoin, Leo, and Polygon among others.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.