Bitcoin Price: The cryptocurrency market’s decline over the past few days appears to be halting. Bitcoin has once again gained momentum, with its price rising nearly 5% in the past 24 hours. At 3:30 pm on Thursday, Bitcoin was trading at $91,650, or approximately Rs 82 lakh. Increased buying demand and improved market sentiment have led to significant gains. Several other cryptocurrencies, including the Pi Network, have also seen gains during this period.
According to CoinMarketCap data, the crypto market cap has increased by 4.30% to $3.12 trillion. Ethereum also saw a 4% jump, reaching $3028. Major altcoins such as XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid have also gained more than 4% in the past 24 hours.
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Pi Network Sees Rise
Regarding Pi Network, it has also seen a significant gain in the last 24 hours. It rose more than 2% and was trading at $0.2561, or approximately ₹23, at around 3:30 pm on Thursday. It has gained more than 5% in a week and nearly 11% in a month, boosting investor enthusiasm.
Why did the market improve?
According to Mudrex CEO Edul Patel, Bitcoin reclaiming the $91,000 level is a sign of increasing buying in the market. He says that if retail investor demand continues, Bitcoin could reach $95,000 and possibly even surpass it. Meanwhile, WazirX Trading Desk says that a slight positivity has returned to global markets and expectations of a US interest rate cut are boosting investor confidence. This is reflected in the prices of Bitcoin and other cryptocurrencies.
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The crypto market was under pressure last week. Bitcoin fell 1.50% and Ethereum 0.16% during that time. Major altcoins BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid fell by more than 9%, while XRP gained 3.69% during the same period.
