Skip to main content

Market exudes a positive sentiment, US CPI data boosts digital asset interest among investors

By May 23, 2024May 26th, 20242 minute read

Bitcoin appears poised for another upward trajectory, despite minor pullback from $70k levels which appears to be a strong point of resistance before the market takes off. If this level is surpassed, the token could go up to $72k with a bullish outlook. The triangle pattern holds the potential to take Bitcoin to new highs. 

However, bears are putting up a strong resistance around which makes overcoming and maintaining levels above $70k point is crucial. Bitcoin needs to surpass and hold above this resistance soon to set the stage for a new ATH above $80,000 by mid-2024.

Other altcoins also saw a minor dip as Bitcoin dipped. Solana and XRP went down by 1.6% and 2.3%, 

However, last week’s US Consumer Price Index report has given a boost to digital assets. The notable surge in investment reflects increased interest and confidence in BTC.

As of 10:00 AM, 23rd May 2024, on WazirX, Bitcoin’s current price is ₹57,80,599. Its price has decreased by 3.35% in the last 24 hours.

Ethereum (ETH) is trading at ₹3,09,371 up by 0.47% in the last 24 hours.

The top gainers on WazirX include Mina (MINA), Woo Network (WOO), and Gifto (GFT), with price increases of 9.49, 8.37%, and 4.1%, respectively.

However, the tokens that underperformed comprised Cortex (CTXC), Alchemy Pay (ACH), and Radicle (RAD), with a price decrease of 5.48%, 5.36%, and 4.78%, respectively.

Shiba Inu (SHIB) saw a price decrease of 4.04% and is now priced at ₹0.002101. Dogecoin (DOGE) saw a decrease of 4.10% and is now priced at ₹13.68.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
Participate in the Indian Crypto Movement. Share:

Leave a Reply

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.