Bitcoin Price Stabilises Around $81,000 Amidst Robust Investor Demand

Bitcoin traded near $81,000 (roughly Rs. 77.5 lakh) on Wednesday, as the cryptocurrency market remained resilient despite higher-than-expected US inflation data and uneven ETF flows. The world's largest cryptocurrency has witnessed a 0.64 percent drop in the last seven days, based on today's market data. Ethereum (ETH) was trading near $2,300 (roughly Rs. 2.20 lakh), reflecting cautious movement across the broader crypto market. Bitcoin is currently priced around Rs. 75.6 lakh in India, while Ethereum trades near Rs. 2.14 lakh, as per today's Gadgets 360 price tracker.

According to market participants, strong buying activity, improving on-chain signals, and continued institutional participation are helping support sentiment, though resistance zones and inflation concerns continue to limit breakout momentum.

Select altcoins performed well on Wednesday, while others remained under pressure. Binance Coin (BNB) was priced around $678.15 (roughly Rs. 64,870), while Solana (SOL) traded near $95.13 (roughly Rs. 9,110). XRP hovered around $1.45 (roughly Rs. 139), and Dogecoin (DOGE) was trading close to $0.11 (roughly Rs. 10.7), indicating selective participation across the market.

Macro Data and ETF Flows Shape Bitcoin Momentum  

Breaking down the market's response to macro data, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is trading above $81,000 (roughly Rs. 77.5 lakh) even after higher-than-expected CPI data, showing that buyers remain confident at current levels. In the past, most CPI releases led to short-term weakness in Bitcoin, but this time the market has stayed resilient, hinting at a possible shift in sentiment.”

Offering a detailed assessment of current price action, Vikram Subburaj, CEO of Giottus.com, said, “The larger pressure is coming from US macro data. April CPI rose 3.8 percent year-on-year, while energy inflation was 17.9 percent. This can keep yields firm and delay expectations of rate cuts [...] Investors should avoid chasing momentum. Fresh entries can be staggered near support, with stronger conviction only if BTC sustains above $85,200 (roughly Rs. 81.5 lakh). Leverage should remain limited until inflation and ETF flow data improve.”

Sharing the latest trends across crypto markets, the WazirX Market's Desk said, “Bitcoin's Bull-Bear Cycle Indicator turned positive for the first time since March 2023, marking a notable shift in the indicator's trend reading. Institutional participation also remained active, with Bitcoin ETFs recording inflows of $272 million (roughly Rs. 2,602 crore), while Spot XRP ETFs saw their largest inflows since January, reflecting continued activity in crypto investment products.”

Overall, analysts said the crypto market remains stable despite persistent macroeconomic pressure, supported by resilient buying activity and continued institutional participation. Bitcoin's ability to sustain above the $80,000 (roughly Rs. 76.5 lakh) support zone and attempt a move toward the $83,000–$85,200 (roughly Rs. 79.4 lakh–Rs. 81.5 lakh) resistance range will remain key for near-term direction.