Bitcoin Price Drops to $97 5r1028 800 Alongside Most Altcoins Amid Ongoing Market Slump

Bitcoin was trading at $97,486 (roughly Rs. 85.2 lakh) on Friday on global platforms. 624c1s

Written by David Delima | Updated: 7 February 2025 12:27 IST

Bitcoin Price Drops to $97,800 Alongside Most Altcoins Amid Ongoing Market Slump

Photo Credit: Unsplash/ Ash_Ismail 3a636u

The valuation of the crypto sector has come to $3.18 trillion (roughly Rs. 2,78,14,854 crore)

Highlights

Cartesi, Status prices dropped on Friday
Meanwhile, Husky and Braintrust rose in value
Both Solana and Chainlink are also cheaper

ment

Amid the ongoing US-China trade war, the crypto market rally has seen a significant slowdown. On Friday, Bitcoin's price dropped by less than one percent on international exchanges, and the digital asset was trading at $97,486 (roughly Rs. 85.2 lakh) on global platforms, as per CoinMarketCap data. On Indian exchanges, the price of BTC dropped by more than one percent, and it was trading at $101,252 (roughly Rs. 88.5 lakh). The price of Bitcoin has not shown a major change over the past 48 hours — it was trading at $98,110 (around Rs. 85.4 lakh) on Wednesday.

“BTC has been consolidating as it seeks its next move, which will determine whether it enters a sustained bull or bear market in the coming days. This comes as Donald Trump Jr., the son of US President Donald Trump, stated at a summit yesterday that crypto is the future of American dominance,” the CoinSwitch markets desk told Gadgets 360.

The price of Ether dropped by 3.55 percent on international exchanges, bringing its value to $2,720 (roughly Rs. 2.37 lakh). On Indian exchanges, the price of the asset dropped by around four percent to trade at $2,869 (roughly Rs. 2.51 lakh).

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“The market pressure seems much more widespread, with Ethereum now approaching recovery. Liquidity conditions are improving. If buying pressure increases, key market indicators suggest the potential for an upward move. The availability of capital could help the Ethereum price bounce in the near term,” Avinash Shekhar, Co-Founder and CEO of Pi42 told Gadgets 360.

The Stellar, and Polkadot.

Other altcoins that were down on Friday included Stellar.

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“Most of the altcoins are constantly forming lower highs and lows, hinting towards the rising dominance of the bears. Although the markets display a consistent trend, the probability of a breakdown continues to hover over the crypto markets. On the other hand, Bitcoin dominance surged above 60 percent, indicating a notable delay in the ‘alt season',” the CoinDCX markets team said in conversation with Gadgets 360.

Market analysts have predicted that the ongoing volatility will prevail for some more days and have strongly advised traders to be cautious with each investment decision.

The overall capitalisation of the crypto market slipped by 0.90 percent in the last 24 hours, bringing the valuation to $3.18 trillion (roughly Rs. 2,78,14,854 crore), according to CoinMarketCap.

Not all cryptocrrencies were down on Friday. Some digital assets like Braintrust saw their prices rise.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Zcash

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More