Wed Sep 25 07:24:08 UTC 2024: ## Crypto Market Surges to $2.26 Trillion as Bitcoin and Altcoins Rise

**New Delhi, September 26, 2023:** The cryptocurrency market continued its upward trajectory on Wednesday, September 25, with the overall market capitalization reaching a staggering $2.26 trillion. The surge is attributed to a combination of factors, including a global shift towards monetary easing and increased investor confidence.

Bitcoin, the leading cryptocurrency, saw significant gains, reflecting a 1.20 percent increase on Indian exchanges and a robust 6.14 percent rise on international platforms. The price of BTC reached $64,380 on international exchanges and $66,630 on Indian exchanges.

Other major cryptocurrencies, including Binance Coin, Ripple, Dogecoin, Cardano, Tron, Avalanche, Shiba Inu, Polkadot, Leo, Litecoin, Cronos, Cosmos, Polygon, Bitcoin SV, and Neo Coin, also registered notable gains.

However, Ethereum (ETH) saw minor losses on both domestic and international exchanges, with prices hovering around $2,731 and $2,631 respectively. Other cryptocurrencies experiencing dips included Solana, USD Coin, Stellar, Zcash, Iota, Qtum, and Status.

Experts believe that the recent surge in the crypto market is driven by central banks in the US, EU, and China cutting interest rates, leading to increased inflows into the market. This positive economic sentiment is further amplified by investments through ETFs and other channels.

“The global shift towards monetary easing, especially with China joining other major economies in loosening policies to counter economic slowdown, is largely responsible for this upward momentum,” said Shivam Thakral, CEO of BuyUcoin.

Edul Patel, CEO of Mudrex, added, “With central banks in the US, EU, and China cutting interest rates, the crypto market is seeing significant inflows, both directly and through ETFs, driven by improved economic sentiment.”

Despite the recent gains, analysts caution that the market remains volatile. “BTC remains bullish, but with over $10 billion in high-leveraged short positions at the $72,000 liquidation level, we could see volatility and a possible rejection or pullback around that area,” said the CoinDCX market desk.

Investors are advised to exercise caution and conduct thorough research before making any investment decisions in the crypto market.

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