New Delhi:- Bitcoin hit a 2023 all-time high on Wednesday, June 28, paving the way for optimists to believe the cryptocurrency could soon hit another all-time high. At the time of this writing, Bitcoin was trading at $30,500 (roughly Rs 2.5 lakh) reflecting a modest gain of 0.33 percent offside. BlackRock's Bitcoin ETF plan has been a major driver of Bitcoin's soaring price. Over the past 24 hours, Bitcoin assets have risen by $120 (around Rs 9,845).

Bitcoin is still a long way from its previous high of $68,000 (around Rs 5.57 lakh) set in November 2021. “Bitcoin rose briefly after it was revealed that Fidelity was planning to apply for a spot bitcoin ETF. The price rose to US$31,000 (about Rs 2.54 lakh), but soon Fidelity's previous ETF application was rejected in 2022. BlackRock's iShares division also applied for a spot in Bitcoin ETF in June," said WazirX.  

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Ether, which normally follows the Bitcoin market, did not on Wednesday. The second-highest cryptocurrency traded at US$1,868 (roughly Rs 1.53 crore), down slightly by 0.25% as the end of June 2023 approached. 

USD Coin, Ripple, Dogecoin, Polkadot, and Bitcoin Cash are all profitable and tagged behind Bitcoin. It is worth noting that not many cryptocurrencies have recorded profits today. Bitcoin price spikes are specific to the asset and do not have a lasting impact on all altcoins on price charts. 

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Tether, Binance Coin, Cardano, and Tron join ETH on the downside of the Gadget 360 cryptocurrency price chart. Prices of Solana, Litecoin, Polygon, Avalanche, and Shiba Inu have also fallen. According to CoinMarketCap, the valuation of the cryptocurrency sector remained unchanged at $1.18 trillion (roughly 96.87576 billion rupees) for the third straight day. The cryptocurrency fear and greed index is up 3 points and remains in the 62/100 greed zone. 

ETH/BTC, the most traded cryptocurrency pair, has fallen to an 11-month low. Most altcoins, except Bitcoin Cash, continue to grow as Bitcoin's dominance, currently at 51.8 percent, continues to grow. continues to trade lower as it continues to rise,” Shubham Hudda, senior manager at Coinswitch Market Desk Gadget 360. 

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The increase in Bitcoin is beneficial for the holders. The crypto is on the records nowadays and BlackRock also has applied for it. Few of them have raised and few of them have declined in the crypto market.