Crypto Prices Today: Bitcoin Shows Signs of Price Recovery, Altcoins Show Mixed Moves
Bitcoin on Monday, May 20 emerged on the side of the crypto market making gains reflecting an increase of 1.11 percent. Although these gains seem small for now, BTC managed to increase its value on national and international exchanges over the weekend. In India, BTC is trading at a price point of $70,701 (roughly Rs. 58.8 lakh) on exchanges like CoinDCX and CoinSwitch. On the other hand, Binance and CoinMarketCap show the value of BTC to be above the $67,070 mark (roughly Rs. 55.8 lakh). “Over the weekend, Bitcoin surged. This rapid change in sentiment comes after recent economic data showing weakening US inflation, coupled with regulatory filings revealing significant interest in the relatively new spot Bitcoin ETF,” Parth Chaturvedi, Chief Investment Officer, CoinSwitch Ventures told Gadgets360. Ether, in an unusual market move, did not lag behind BTC in crypto chart gains on Monday. The asset, after a loss of 1.87 percent, is currently trading at $3,260 (roughly Rs. 2.71 lakh) on Indian exchange WazirX. Internationally, ETH was trading at $3,088 (roughly Rs. 2.57 lakh). “ETH still needs to overcome several hurdles to overtake Bitcoin. ETH is around $3,100, holding above the 20 EMA on a daily basis, which is a positive sign. The resistance stage is between $3,250 (roughly Rs. 2.70 lakh) and $3,650 (roughly Rs. 3.03 lakh),” the CoinDCX research team told Gadgets360. Crypto charts by Gadgets360 show mixed price movements for altcoins. Tether, Binance Coin, and Solana for example, managed to gain retail profits on the price charts alongside BTC. Dogecoin, Shiba Inu, Monero, Iota, and NEM also posted gains. “Shiba Inu and Ripple may see further bearish momentum amid a broader bullish trend for Bitcoin.
