Bitcoin prices experienced a downturn of 1.95% on Tuesday, 11 June, amid a period of volatility in the cryptocurrency market.
Both national and international exchanges reflected this decline. On Indian platforms such as CoinSwitch and WazirX, Bitcoin hovered around $72,653, while on foreign exchanges like CoinMarketCap, it traded at $68,049. The majority of altcoins followed suit, registering losses alongside Bitcoin.
Ether, on the other hand, saw a loss of less than one percent over the past 24 hours. Presently, Ether is priced at $3,233 on Indian exchanges, while its value stands at $3,560 on international exchanges.
Commenting on the market dynamics, Shivam Thakral, CEO of BuyUcoin, mentioned, “The recent price decline has spurred buying activity, primarily from institutional investors, as digital assets gear up for their next bull run. Regulatory developments and positive macroeconomic factors may contribute to increased momentum in the second half of 2024.” Thakral further elaborated that Bitcoin-led investment activity resulted in over $1.97 billion in inflows, while Ethereum witnessed significant growth, adding nearly $70 million in inflows since March, according to data from Coinshares.
