Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
    Squid Game Season 3
    Videos

    Squid Game Season 3: Final Trailer Unveils Epic Plot

    June 14, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Bitcoin Surges 5.56% as Inflation Cools, Altcoins Follow
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Bitcoin price rebound
PhotoNews Pakistan > Tech > Bitcoin Surges 5.56% as Inflation Cools, Altcoins Follow
Tech

Bitcoin Surges 5.56% as Inflation Cools, Altcoins Follow

Web Desk
By Web Desk Published May 17, 2024 2 Min Read
Share
Bitcoin USD Price on Surges. Photo: CNBC
SHARE

Bitcoin costs $69,196 on WazirX and CoinSwitch. On Friday, its price rose by 5.56 per cent, trading at $69,196 on WazirX and CoinSwitch and $66,155 on Binance.

The increase followed the US Labor Department’s release of CPI data, showing cooling inflation in April. Consequently, Bitcoin and other cryptocurrencies are trading at higher values.

The crypto market is now stable, with BTC’s upward momentum post-CPI. Technically, BTC faces a short-term hurdle at $66,670. Clearing this level could lead to continued gains. The major support is at $60,850, and according to the CoinDCX markets team, BTC should stay above this level.

Ether trades at $3,147 on national exchanges and $2,998 on international exchanges, following a 3.30 per cent price drop.

The ETH/BTC pair continues to decline, causing ETH to underperform relative to BTC amid mixed altcoin trading. Despite a bullish outlook, ETH remains weaker compared to BTC. Key support for ETH is $2,875, with resistance at $3,040.

According to CoinMarketCap, the overall crypto market cap stands at $2.36 trillion (approx. Rs. 1,96,97,456 crore) after dropping 0.90 per cent in the last 24 hours.

While the broader market is experiencing a downturn, LINK has surged by 13.6 per cent, standing out among leading cryptocurrencies. In collaboration with Chainlink and major US banks, the Depository Trust and Clearing Corporation (DTCC) in the US completed a pilot project to accelerate fund tokenization. This collaboration marks a significant advancement in adopting blockchain technology in traditional asset management.

The Securities and Exchange Board of India (SEBI) has proposed appointing multiple regulators to oversee crypto trading. This recommendation was submitted to a government panel advising the finance ministry on policy formulation. On the policy front, India and Turkey advanced crypto policies on May 16, potentially creating a framework for businesses and investors in each country.

TAGGED:Crypto CurrencyCryptocurrency NewsFeatured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Musk Trump Bill

Elon Musk Threatens Lawmakers Supporting Trump’s Big Beautiful Bill

Cardi B Most Solo Top 10 Hot 100

Cardi B Sets Record as Female Rapper with Most Solo Top 10 Hot 100 Debuts

Fluminense Inter Milan Club World Cup 2025

Fluminense Stuns Inter Milan 2-0 to Reach Club World Cup 2025 Quarter-Finals

Cassie Ventura Sean Diddy Combs Trial

Sean Diddy Combs’ Fate Awaits As Jury Starts Deliberation in High-Profile Trial

Pakistan Fuel Price Hike July 2025

Pakistan Fuel Price Hike in July 2025 Sparks Inflation Concerns

Post Archives

More Popular from Photonews

Harry Kane Bayern Munich
Sports

Harry Kane’s Brace Leads Bayern Munich to Club World Cup Quarter-Finals

2 Min Read
G7 global tax exemption 2025
BusinessTop News

G7 Backs U.S. Proposal to Exempt Companies from Global Tax Agreement

3 Min Read
Zlatan Ibrahimovic defends Messi after nter Miami’s 4-0 Club World Cup Loss
Sports

Zlatan Ibrahimovic Defends Messi After Inter Miami’s 4-0 Club World Cup Loss

4 Min Read
Entertainment

Sydney Sweeney’s Baskin-Robbins Ice Cream Collab Sweetens Summer 2025

Sydney Sweeney, the star of Euphoria, unveiled a delightful collaboration with Baskin-Robbins on June 27, 2025,…

June 27, 2025
Business

PSX KSE-100 Drops 715 Points as Profit-Taking Halts Rally

The Pakistan Stock Exchange (PSX) faced selling pressure on June 26, 2025, ending a two-day rally.…

June 26, 2025
Tech

iPhone 17 to Boast Larger 6.3-Inch 120Hz Display, Tipster Reveals

Apple’s iPhone 17, set for a 2025 release, will feature a larger 6.3-inch display with a…

June 28, 2025
Sports

2025 NBA Draft Full List of First and 2nd Pick

The 2025 NBA Draft concluded on June 27, 2025, delivering two days of excitement at Brooklyn’s…

June 27, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?