BTC Trades Above $62,000 Despite Minor Dips, Gains Seen by ETH, DOGE, SHIB
The cryptocurrency market saw more losses than gains on Wednesday, October 9. Bitcoin experienced minor
declines on both domestic and international exchanges over the past 24 hours. Despite these slight
setbacks, the leading cryptocurrency has maintained its price above $62,000 (roughly Rs. 52.04 lakh) on
global platforms. At the time of writing, Bitcoin was trading at $62,353 (around Rs. 52.3 lakh) on
international exchanges, according to CoinMarketCap. Meanwhile, on India-based exchanges such as
CoinSwitch and CoinDCX, BTC was priced higher, hovering around $63,917 (roughly Rs. 53.6 lakh).
“Bitcoin is currently trading above $62,000 (roughly Rs. 52.04 lakh), primed to show bullish momentum as
‘Uptober' optimism grows despite volatility,” said Avinash Shekhar, Co-Founder and CEO, Pi42 as
commenting on the market situation.
Ether dropped in price by 1.75 percent in the last 24 hours. The asset is trading at $2,442 (roughly Rs.
2.04 lakh) on international exchanges. In India, on the other hand, ETH is valued at $2,515 (roughly Rs.
2.11 lakh), showed the crypto price tracker by Gadgets360.Crypto SIPs Could Gain Traction Among Young
Investors: Cashaa Founder
“Enthusiasm is building within the ETH community following the introduction of a new Ethereum
Improvement Proposal (EIP-7781), designed to significantly enhance transaction speed and help
decentralised exchanges (DEXs) save an estimated $100 million (roughly Rs. 839 crore). In the coming
days, the price point of $2,400 (roughly Rs. 2,01 lakh) will act as a strong support zone for the
asset,” ZebPay's Trade Desk told Gadgets360.
USD Coin, Ripple, Cardano, Avalanche, and Polkadot recorded losses alongside BTC on Wednesday.
Monero, Stellar, Cronos, and Cosmos also registered price dips.UAE Scraps Value Added Tax on Crypto
Transactions, Binance Reacts
The overall valuation of the crypto sector tumbled by 0.55 percent in the last 24 hours. With this, the
sector's valuation has reached $2.17 trillion (roughly Rs. 1,82,15,945 crore) as per CoinMarketCap.
“Sustained consolidation could allow altcoins to outperform Bitcoin in the short term,” predicted Vikram
Subburaj, CEO, Giottus crypto exchange.
Meanwhile Tether, Binance Coin, Solana, Dogecoin, and Shiba Inu reflected small profits on Wednesday
alongside ETH.
Polygon and EOS Coin also managed to hold onto gains despite the market volatility.
“Memecoins, known for their volatility, saw a sell-off as traders cashed out after recent gains. Tokens
like PEPE, Dogwifhat (WIF), and Popcat dropped around five percent, reflecting profit-taking,” the
CoinSwitch Markets Desk told Gadgets360.
.embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width:
100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute;
top: 0; left: 0; width: 100%; height: 100%; }
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. Affiliate links may be automatically
generated - see our ethics statement for details.
