Bitcoin soared to $102,722 (roughly Rs. 88.1 lakh) on international crypto exchanges on Friday, marking the first time in over two months that it has surged past the $100,000 (approx. Rs. 85.7 lakh) level. The digital asset rose by 3.9% following the announcement of a U.S.-U.K. trade deal by President Donald Trump.
The broader crypto market followed suit, adding over $240 billion (roughly Rs. 20,59,507 crore) within hours. Bitcoin also became the fifth-largest asset by market capitalization. Optimism surrounding a potential U.S.-China agreement further lifted investor sentiment, driving expectations for stronger global economic activity.
Edul Patel, Co-founder and CEO of Mudrex, commented on the rally:
“BTC faces the next resistance at $106,600 (roughly Rs. 90.9 lakh) while the support stands at $98,600 (roughly Rs. 84.6 lakh).”
Ether jumps over 16%, altcoins join the rally
Ethereum also made headlines, with ETH’s price climbing more than 16% in the last 24 hours on international exchanges to hit $2,207 (roughly Rs. 1.90 lakh). ETH increased by 18%, reaching $2,155 (roughly Rs. 1.85 lakh).
Altcoins have also gained huge momentum, with Ethereum rising above the pivotal resistance at $2,200 (roughly Rs. 1.88 lakh) with over a 20% jump. The liquidity flow into the altcoins hints towards a potential altseason very soon.”
Popular altcoins such as Ripple, Solana, Dogecoin, Cardano, and Tron all recorded notable gains, according to the crypto price tracker by Gadgets 360.
Crypto market valuation nears $3.22 trillion
The overall cryptocurrency market cap surged nearly 5%in the past 24 hours, reaching $3.22 trillion (roughly Rs. 2,75,96,317 crore) at the time of writing.
Himanshu Maradiya, Founder and Chairman of CIFDAQ exchange, emphasized the significance of the current rally:
“The current surge marks the second leg of the broader bullish rally. With institutional interest accelerating across the board, this rally underscores the rapid maturation of the crypto market and its growing acceptance as a mainstream asset class.”
However, given the macroeconomic uncertainties and ongoing geopolitical unrest, analysts continue to urge investors to remain cautious when entering the market.
