Cardano and Chainlink have recently shown positive price movements, while USD Coin and Avalanche experienced losses. Stellar and Bitcoin SV recorded notable price declines as well.

On Friday, September 13, Bitcoin experienced minor losses, with its value decreasing by approximately 0.77 percent across both domestic and international exchanges. According to CoinMarketCap, Bitcoin’s global value fell to $57,854 (roughly Rs. 48.5 lakh). However, on Indian exchanges such as CoinSwitch and CoinDCX, Bitcoin traded at a slightly higher value of $60,708 (roughly Rs. 50.9 lakh). The Producer Price Index (PPI) in the United States surpassed expectations, while recent unemployment figures slightly exceeded forecasts. These mixed economic signals have contributed to heightened volatility in the cryptocurrency market.

In the past 24 hours, Bitcoin has demonstrated resilience by maintaining a trading value around $57,916 (roughly Rs. 48.6 lakh), despite the volatility induced by mixed US macroeconomic data. The leverage in the Bitcoin market has increased to 0.2060, the highest level since October 2023, suggesting that traders are more willing to take on additional risk, which could lead to further volatility. The market sentiment remains optimistic due to growing institutional demand and renewed inflows into exchange-traded funds (ETFs), according to Shivam Thakral, CEO of BuyUcoin.

Ether also experienced a loss of 0.70 percent on Friday. On both international and national exchanges, Ether is trading at $2,350 (roughly Rs. 1.97 lakh) and $2,484 (roughly Rs. 2.08 lakh) respectively. Investors are closely watching broader market trends and new inflows into crypto ETFs. As anticipation builds for the upcoming Federal Open Market Committee (FOMC) meeting next week, there is optimism that the Federal Reserve’s expected announcement of a 25-basis point interest rate cut could positively impact the cryptocurrency market, according to Avinash Shekhar, Co-Founder and CEO of Pi42.

The overall cryptocurrency market cap experienced a minor dip of 0.49 percent in the last 24 hours, currently standing at $2.04 trillion (roughly Rs. 1,71,22,648 crore), as per CoinMarketCap data.

AI tokens have shown particular strength, correlating with NVIDIA’s impressive performance, which has increased by more than 10 percent over the last three days. Looking ahead, next week’s Federal Funds rate data will be a key event that could introduce significant volatility to the market, according to the CoinDCX research team.

Overall, the cryptocurrency market is witnessing varied performance among different assets, influenced by economic indicators and investor sentiment towards upcoming regulatory announcements.