Market Analysis | 01 May 2024

GDP of India and Factors Influencing it

With the broader crypto market awaiting an upside break, BTC (-5.8%) broke its $60k support on the downside. BTC has reached its lowest price point in close to two months. Ethereum (ETH, -6.2%) fell sharply, but maintained its up trend from the lows of 13th April, and trading above $2.8k.

While this move could be attributed to a pending technical correction, another catalyst of the same was the world’s largest crypto exchange, Binance’s former CEO, getting his sentence announced yesterday. CZ was given a sentence to serve jail time for 4 months. Many are hailing it as a positive development given Binance can now officially be free from the US regulators, barring the fine that they had paid. BNB token would be one of the cryptos that investors will keep a lookout for in the coming days or weeks.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

Share this:

Table of Content

Recent Post

Subscribe to our newsletter

Weekly crypto updates and insights delivered to your inbox.

Browse our Newsletter Archive for past editions.

SnowSnow

Thank you for subscribing!
Please verify your email to start receiving the latest issues from Switch in your Inbox.
Powered by

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play
Store or Apple App Store.

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play Store or Apple App Store.

2 Crore+ users trust CoinSwitch, India's safest crypto platform | 180+ Coins | ISO 27001 Certified | FIU Compliant