Bitcoin’s price slipped to around $94,400 (approx. ₹79.5 lakh) on Monday, down nearly 2% from its recent high of $97,000. On Indian exchanges, it dropped by 2.25%. Market participants are moving cautiously ahead of this week’s US Federal Open Market Committee (FOMC) meeting, according to analysts.
“Bitcoin faces resistance near $97,900 and support at $92,000. Interestingly, it just logged over 925,000 active addresses in a day — the highest in six months,” said Alankar Saxena, Co-founder and CTO at Mudrex.
Ether also saw a dip, falling 1.77% globally to $1,806 (₹1.52 lakh), while Indian exchanges recorded a 3.81% drop.
The global crypto market shrank by 1.5% in the last 24 hours, with total valuation at $2.94 trillion (approx. ₹247.7 lakh crore), as per CoinMarketCap.
CoinDCX analysts noted that while the market entered a retracement phase, top tokens are shadowing Bitcoin’s trend. However, some altcoins like Tron, Leo, IOTA, and Polygon showed gains, defying the broader dip.