Nigeria: Bitcoin Steadies At $105k As Altcoins Dip in Market Slowdown

9 June 2025
Vanguard (Lagos)

The crypto market steadied Monday, June 9, following last week's turbulence fueled by a public spat between Donald Trump and Elon Musk. Bitcoin posted a marginal 0.14% dip, trading at $105,457 (about ₹90.3 lakh) on global exchanges and slightly higher on Indian platforms at $107,330 (around ₹92 lakh).

"With a major US jobs report coming up, macro uncertainty could stir things up again. So, for now, we're neutral to cautiously optimistic," said Srinivas L, CEO of 9Point Capital. "The bigger trend still looks intact -- this may just be a breather after a strong run."

Ether followed suit, dropping 1.05% to $2,486 (₹2.12 lakh), while altcoins like Tether, Dogecoin, and Binance Coin also saw slight losses. Ethereum ETFs, however, drew continued investor interest.

"Ethereum is drawing attention, with spot ETFs seeing four consecutive weeks of inflows totaling over $856 million. But this week belonged to Bitcoin's resilience," said Pi42 CEO Avinash Shekhar.

The global crypto market cap slipped 0.16% to $3.29 trillion.

"Investors should stay vigilant and continue Dollar-Cost Averaging (DCA) for long-term wealth," advised Himanshu Maradiya, CIFDAQ Chairman.

Meanwhile, Solana, Ripple, and Bitcoin Cash logged minor gains.

"Analysts are drawing parallels between Bitcoin's current market structure and gold's legendary breakout in the early 2000s... the $150,000 target once again looks achievable," said Harish Vatnani, Head of Trade at ZebPay.

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