Two lakh crypto accounts blocked in India after two-month high in Bitcoin

With the advent of global futures-based ETFs, cryptocurrencies are likely to increase.

MUMBAI: Bitcoin prices rose sharply in the cryptocurrency market today. Prices have been hovering around a six-month high, although gold prices rebounded against the global dollar index, which fell today as industrial production in the US weakened.

In such an environment, cryptocurrencies were showing a two-way bounce. Bitcoin prices today ranged from 10 61,063 to 10 61,064 and from 26 63,261 to 26 63,262 to 62 62,474 to 4 62,475.

Bitcoin traded at 1.96 billion today and its market cap fell from 70 1170 billion to 60 1160 billion. Market players were watching the upcoming listing of Future Based ETFs in Bitcoin in the US. Bitcoin hit a record high of 8 64895 in April this year.

Experts were predicting billions of dollars in pension funds and institutional investors in the crypto market following the ETF. However, there were reports of more than two lakh crypto accounts being blocked in India in six months. Meanwhile, ether prices were down 36 3695 to 9 3696 and 38 3812 to 3813 in midcap crypto today.

Ether traded up 1.01 billion today, raising its market cap from 44 448 billion to 9 449 billion. Smallcap XRP prices were lower at 107 to 108 cents and higher at 110 to 111 and 109 to 110 cents. The XRP traded at 3.5 3.58 billion today, with a market cap of 108 108 to 9 109 billion.