Crypto Price Today: Bitcoin holds $25,500; Ethereum at $1,650; Polkadot & Polygon fall 5% each

Bitcoin was back in green as the largest crypto token gained more than 2 per cent and moved above $25,500-mark while Ethereum gained about a per cent but remained below $1,700-levels.

Bitcoin and other crypto tokens were nursing their wounds on Friday as the digital asset market spurted briefly during the early Asian trading session on Friday. The ongoing scrutiny by the US Securities and Exchange Commission (SEC) is hurting the investors' sentiments.

After a severe correction, Bitcoin was back in green as the largest crypto token gained more than 2 per cent and moved above $25,500-mark. Its largest peer, Ethereum, traded higher as it gained about a per cent but remained below $1,700-levels. On the other hand, action in the altcoins was mixed.

Despite regulatory challenges in the US crypto industry, Bitcoin has managed to hold above a significant support level of $25,200-$25,400. Despite the recent actions taken by the Securities and Exchange Commission (SEC) against major players in the industry, Bitcoin has shown resilience, said CoinDCX Research Team.

"Interestingly, amidst the ongoing bear market and regulatory challenges in the US, Tether has achieved a new milestone by reaching an all-time high supply of 83.36 billion USDT, indicating a sustained demand for stablecoin despite the prevailing market conditions," it added.