Bitcoin Recovery Could Take Months Amid Ongoing Crypto Market Volatility, Experts Say
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For the second consecutive day this week, the crypto price charts recorded more profits than losses. On Friday, July 22, Bitcoin opened trading with gains of over two percent. According to Indian exchange CoinSwitch Kuber, BTC is currently priced $23,757 (roughly Rs. 19 lakh). The reigning coin of the crypto world also saw small gains before stepping into the weekend. As per CoinMarketCap and CoinBase, for instance, BTC is up by 0.45 percent to trade at $22,952 (roughly Rs. 18 lakh).

Ether took a long leap in-terms of profits today and opened trading with gains exceeding seven percent. Recovered from the slump, ETH is currently priced $1,610 (roughly Rs. 1.28 lakh) as per Gadgets 360’s crypto price tracker.

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Stablecoins such as Tether, USD Coin, and Binance USD joined BTC and ETH on the profit ladder.

Among other gainers, Ripple, Cardano, Solana, Polkadot, and Polygon registered their names.

Even DOGE and SHIB have remained under the profit umbrella for the second consecutive day today.

“Owing to the institutionalisation of crypto and digital assets, we have noticed less exaggerated sell-offs and a gradual decrease in volatility over time. We believe crypto is currently going through a consolidation phase and this thesis is also supported by the fact that over $10 billion (roughly Rs. 79,872 crore) worth of BTC has recently left exchanges signalling major accumulation amidst seller exhaustion trends,” the CoinDCX Research Team told Gadgets 360.

Amid the onward-and-upward market movement, only a few cryptocurrencies reflected losses next to their names on the price charts.

These include DogeFi, Bitcoin Hedge, as well as Flex.

The global crypto market cap rose by 2.38 percent over the last day, keeping its valuation beyond the mark of $1 trillion (roughly Rs. 83,45,584 crore), as per CoinMarketCap.


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