Crypto markets rebound on Tuesday amid global equity market recovery

Crypto  News: After posting one of the steepest falls in 2024 on Monday, the crypto markets are witnessing a strong recovery on Tuesday. The oldest cryptocurrency, Bitcoin, which registered a fall of over 12 per cent yesterday, has jumped over 9 per cent in the last 24 hours.

At around 02:10 PM, Bitcoin, which commands a market cap of $1,102.50 billion, was trading at $55,861.43, as per the data available on Binance.com. The currency has traded in the range of $49,578.89 - $56,271.37 in the last 24 hours. Bitcoin, however, has lost around 16.26 per cent over the last 7 days.

 

On a year-to-date basis the world's most popular cryptocurrency has posted a rally of 32.12 per cent.

Among other cryptocurrencies, Binance Coin (BNB) registered a rally of nearly 12 per cent in the last 24 hours. It was quoted trading at $491.62 on Binance.com.

The trading range for BNB for the last 24 hours is $409.82 - $492.90. While BNB has fallen 3.51 per cent in the last month, the cryptocurrency has rallied 57.38 per cent year-to-date.

Mirroring its peer, Ethereum (ETH) has also sprinted 9.11 per cent in the last 24 hours. ETH was trading at $2,501.41 on Binance.com. ETH has traded in the range of $2,186.68 - $2,547.98 in the last 24 hours.

Equity markets update

Domestic equity indices started Tuesday's session with gains buoyed by a rebound in Asian peers and US futures. However, the indices are trading flat during the second half of today's session. The BSE Sensex was quoted at around 78,715 levels, down 0.06 per cent. The index jumped 1.38 per cent to hit the day's high of 79,852.08 during intra-day trade.

NSE Nifty50, on the other hand, was seen at around 24,039 levels, down 0.07 per cent. It had climbed 1.35 per cent to the day's high of 24,382.6 during intra-day trade.

Among other Asian peers, Japan's Nikkei settled with a gain of over 10 per cent on Tuesday. Meanwhile, the Asia Dow and China's Shanghai Composite ended 4.25 per cent and 0.23 per cent higher, respectively. Hong Kong's Hang Seng index, on the other hand, settled 0.31 per cent lower.