Bitcoin Falls Below $79,000 as Inflation Concerns Weigh on Crypto Markets

Bitcoin traded at Rs. 74.1 lakh on Friday as cryptocurrency markets faced renewed selling pressure amid persistent inflation concerns, weakness in technology stocks, and uncertainty over the Federal Reserve's interest rate outlook. Ethereum (ETH) was priced at Rs. 2.1 lakh, while major altcoins recorded mixed movements. Market participants said the return of institutional investment into US spot Bitcoin exchange-traded funds (ETFs) had failed to prevent further price declines as investors remained cautious about macroeconomic conditions and market security. A reported security incident at Binance added to selling pressure across the cryptocurrency market. According to CoinGecko data, Bitcoin traded at $77,900 (roughly Rs. 74 lakh), while Ethereum was priced at $2,222 (roughly Rs. 2.13 lakh).

The world's largest cryptocurrency fell 1.2 percent in the last 24 hours, according to the Gadgets 360 price tracker. Analysts said Bitcoin was struggling to hold $80,000 (roughly Rs. 76.2 lakh) despite US spot Bitcoin ETFs attracting $137 million (roughly Rs. 130.5 crore) on Wednesday, taking three-day inflows to approximately $424 million (roughly Rs. 403.9 crore) and returning October's net flows to positive territory. 

Major Altcoins Show Mixed Momentum on Friday

Binance Coin (BNB) was priced at $705 (roughly Rs. 67,000), while Solana (SOL) traded at $97 (roughly Rs. 9,200). XRP was priced at $1.25 (roughly Rs. 118), while Dogecoin (DOGE) traded at $0.075 (roughly Rs. 7.6). 

Institutional ETF Inflows Fail to Offset Broader Market Weakness

Highlighting the contrast between institutional demand and broader market weakness, the CoinSwitch Markets Desk said, “Bitcoin's struggle to hold $80,000 (roughly Rs. 76.2 lakh) highlights a growing disconnect between improving institutional inflows and cautious market sentiment. However, the Fed's hawkish stance, elevated inflation concerns and weakness across global equities continue to weigh on prices. With Bitcoin facing renewed selling pressure, investors will closely monitor whether sustained ETF demand can offset macroeconomic uncertainty.”

Commenting on inflation, technology stocks and institutional investment, Prateek Gupta, Head of Business at Mudrex, said, “Bitcoin has come under renewed selling pressure as sticky inflation and weakness in technology stocks dampened risk appetite. US PCE inflation rose to 3.6 percent in September, while Q3 GDP expanded 3.4 percent, keeping the probability of a December Fed rate hike near 80 percent. Alphabet's 12 percent plunge after missing earnings estimates further weighed on the tech sector [...] Franklin Templeton also introduced two ETFs that reinvest stock dividends into Bitcoin.”

Discussing the latest sell-off, altcoin performance and risk management, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin fell to a six-week low of $77,600 (roughly Rs. 73.7 lakh) as a reported security incident at Binance triggered fresh selling across the crypto market. The decline comes despite recent inflows into US spot Bitcoin ETFs [...] Investors should avoid panic selling or aggressive dip-buying. Consider staggered entries, maintain modest position sizes and wait for Bitcoin to stabilise before increasing exposure.”

Overall, analysts said Bitcoin's latest decline reflects the growing influence of macroeconomic uncertainty and market-specific risks, despite continued institutional investment. Bitcoin's ability to recover above $79,000 (roughly Rs. 75.2 lakh) and reclaim $80,000 (roughly Rs. 76.2 lakh) will be important for improving sentiment, while support near $76,600 (roughly Rs. 73 lakh) remains a key level to monitor.