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The cryptocurrency market chart displayed widespread losses on Friday, December 27, with most major cryptocurrencies facing declines. Bitcoin, the most prominent cryptocurrency, saw its value dip by approximately 2 percent on both domestic and international exchanges. 

According to CoinMarketCap, Bitcoin was trading at $96,223 (roughly Rs. 82 lakh) on international platforms. Meanwhile, on Indian exchanges such as Giottus, Bitcoin traded slightly higher at $103,180 (roughly Rs. 88 lakh).

“After reaching $99,000 (roughly Rs. 84.4 lakh) on Christmas day, BTC has dropped to $96,000 (roughly Rs. 81.8 lakh) again as we are moving towards a new year. 

While BTC has grown by more than 120 percent in 2024, it is worth noting that BTC had pumped 25 percent and 15 percent in 2020's last week and 2021's first week respectively before topping off in April and then November that year. Given Bitcoin's four-year cyclic behaviour -- analysts predict a similar move this year as well,” said the markets desk at CoinSwitch, cautioning investors.

Ether registered a price drop of 2.30 percent over the last day. On global exchanges, ETH trades at $3,375 (roughly Rs. 2.87 lakh) whereas on Indian platforms the price of the asset stands at $3,658 (roughly Rs. 3.12 lakh).

Despite the current downturn, the outlook for Bitcoin and the broader cryptocurrency market in 2025 remains optimistic. Factors such as the upcoming Bitcoin halving, which creates a demand-supply imbalance boosting prices, and the election of crypto-friendly lawmakers are expected to bolster Bitcoin, with some analysts predicting prices could reach $180,000 to $200,000 by the end of 2025.