Home
Cryptocurrency
Cryptocurrency News
Bitcoin Holds Near $65,000 as ETF Demand Counters Inflation Concerns

Bitcoin Holds Near $65,000 as ETF Demand Counters Inflation Concerns

Investors remained cautious ahead of the Fed meeting despite sustained institutional participation in crypto markets.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 23 July 2026 15:38 IST

Bitcoin Holds Near $65,000 as ETF Demand Counters Inflation Concerns

Photo Credit: Unsplash/André François McKenzie

Profit-taking slowed Bitcoin’s rally as traders assessed macroeconomic and geopolitical developments

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Institutional inflows continue despite macroeconomic headwinds
Fed meeting could determine Bitcoin’s next move
Resistance near $69,000 continues to cap gains

Bitcoin traded near $65,400 (roughly Rs. 63.12 lakh) on Thursday as the cryptocurrency market remained range-bound despite steady institutional demand, with inflation concerns and geopolitical tensions limiting further gains. The world's largest cryptocurrency rose by 3.1 percent in the last week, based on today's CoinMarketCap data. Ethereum (ETH) was trading near $1,900 (roughly Rs. 1.85 lakh), reflecting subdued movement across the broader crypto market. Bitcoin is currently priced around Rs. 63.12 lakh in India, while Ethereum trades near Rs. 1.85 lakh, as per today's Gadgets 360 price tracker.

Analysts said investors are also watching the upcoming US Federal Reserve meeting, with stronger institutional participation helping Bitcoin defend key support levels even as broader risk appetite remains cautious.

Crypto Markets Discussion

Explore More...

Major altcoins traded slightly lower on Thursday, broadly tracking Bitcoin's consolidation. Binance Coin (BNB) was priced around $568.94 (roughly Rs. 54,910), while Solana (SOL) traded near $77.10 (roughly Rs. 7,441). XRP hovered around $1.13 (roughly Rs. 109), and Dogecoin (DOGE) was trading close to $0.072 (roughly Rs. 7.0), indicating selective participation across large-cap cryptocurrencies.

Ostium Halts Trading After Suspected Oracle Security Incident

Fed Meeting and Resistance Levels Remain in Focus

Sharing his assessment of current market conditions, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Rising investment by large technology companies in AI infrastructure is keeping inflation concerns alive, supporting higher bond yields and limiting gains in risk assets. At the same time, geopolitical tensions have increased following disruptions to Iran's oil exports.”

Providing a broader market outlook, Vikram Subburaj, CEO, Giottus.com, said, “The market is cautious ahead of the July 28-29 Federal Reserve meeting, while higher oil prices and Treasury yields have revived inflation concerns [...] Investors should avoid chasing short-term moves. Staggered buying and disciplined position sizing remain preferable until Bitcoin clears $69,000 (roughly Rs. 66.59 lakh) with sustained ETF and spot demand.”

Commenting on the latest market trends, the CoinSwitch Markets Desk said, “Options traders have built nearly $2.5 billion (roughly Rs. 24,128 crore) in positions targeting $72,000 (roughly Rs. 69.5 lakh) by the end of July, pointing to expectations of increased volatility around the upcoming Fed meeting. A sustained move above $70,000 (roughly Rs. 67.56 lakh) would improve momentum, but stronger ETF inflows or another major catalyst may still be needed to confirm a broader recovery.”

Bitcoin Holds Above $64,000 as Institutional Demand Remains Mixed

Overall, analysts said institutional demand continues to provide support for the crypto market despite persistent macroeconomic and geopolitical headwinds. However, inflation concerns, the upcoming Federal Reserve meeting and Bitcoin's ability to break above the $66,500-$69,000 (roughly Rs. 64.18 lakh-Rs. 66.59 lakh) resistance range will likely determine the market's next direction.

US, UK Treasuries Seek Common Framework for Tokenisation and Stablecoins

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Crypto markets, Crypto Prices, Cryptocurrency

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More