Bitcoin Price Touches One-Week High Amidst Ongoing Macroeconomic Concerns

Bitcoin traded near $71,500 (roughly Rs. 66.10 lakh) on Friday as the cryptocurrency market moved higher after macroeconomic concerns eased. Analysts said sentiment improved after US jobless claims came largely in line with expectations, helping calm investor worries about the broader economy. Ethereum (ETH) was trading near $2,100 (roughly Rs. 1.9 lakh), reflecting renewed strength across the broader digital asset market. Bitcoin is currently priced around Rs. 66.1 lakh in India, while Ethereum trades near Rs. 1.9 lakh, as per today's Gadgets 360 price tracker.

Analysts noted that positive sentiment is returning to the market as retail investors show renewed interest on social media platforms. At the same time, institutional flows remain supportive, with Bitcoin exchange-traded funds continuing to record steady inflows in recent sessions.

Bitcoin's Upward Rise Continues, Altcoins Follow Suit   

Altcoins broadly tracked Bitcoin's upward move on Friday. Binance Coin (BNB) was priced around $661.37 (roughly Rs. 61,130), while Solana (SOL) traded near $89.07 (roughly Rs. 8,231). XRP hovered around $1.42 (roughly Rs. 131), and Dogecoin (DOGE) was trading close to $0.09666 (roughly Rs. 8.93), reflecting stable liquidity conditions across the crypto market.

Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is trading close to the $72,000 level (roughly Rs. 66.54 lakh) as it continues to hold strength above $70,000 (roughly Rs. 64.69 lakh). US jobless claims were largely in line with expectations, which helped calm macro worries and supported the market. At the same time, sentiment around Bitcoin on social media has turned positive again, hinting that retail investors may start returning.”

Providing insights into derivatives positioning and institutional flows, the CoinSwitch Markets Desk said, “Traders remain cautious, with futures funding rates around 7 percent, showing that many participants are still betting on the downside. The futures premium also remains below the typical 5 percent bullish level, suggesting limited risk appetite. However, steady institutional demand is helping support prices.”

Sharing his broader market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin is trading around the $71,500–$71,600 range (roughly Rs. 66.09 lakh–Rs. 66.19 lakh). This is roughly 3 percent higher over the past 24 hours [...] US spot Bitcoin ETFs saw net inflows of $115.2 million (roughly Rs. 1,064 crore) on March 11 and $7.7 million (roughly Rs. 71 crore) on March 12. This suggests that institutional support is still intact.”

Overall, analysts said crypto markets remain cautiously optimistic as institutional inflows and stable macro signals support prices. A decisive breakout could open the path for further gains, while failure to hold above key support levels may keep the market range-bound in the coming sessions.