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Bitcoin Momentum Slows as Crypto Market Reacts to Global Developments

Bitcoin Momentum Slows as Crypto Market Reacts to Global Developments

Profit booking caps gains as the crypto market reacts to global developments.

Written by Rahul Dhingra, Edited by David Delima | Updated: 7 April 2026 12:52 IST

Bitcoin Momentum Slows as Crypto Market Reacts to Global Developments

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Bitcoin pulls back after rally as traders lock in gains

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Highlights

Profit booking halts rally after brief move above $70,000
Institutional buying supports prices despite weak momentum
Altcoins lag as broader risk appetite remains cautious

Bitcoin traded near $68,600 (roughly Rs. 63.8 lakh) on Tuesday as the cryptocurrency market showed signs of consolidation after a brief move above $70,000 (roughly Rs. 65 lakh). The world's largest cryptocurrency was falling 0.68 percent in the past 24 hours as investors booked profits amid rising geopolitical tensions. Analysts said the current price action reflects a macro-driven pause rather than a strong trend. Ethereum traded near $2,100 (roughly Rs. 1.9 lakh), indicating selective weakness across the broader market. Bitcoin is currently priced around Rs. 63.7 lakh in India, while Ethereum trades near Rs. 1.95 lakh, as per today's price tracker.

Analysts noted that profit booking has capped upside after a brief rally, while continued accumulation by large players is helping support prices at lower levels. The focus now remains on upcoming US inflation data, which could act as a key trigger for the next directional move in the market.

Profit Booking, Macro Risks Keep Market Momentum in Check

Altcoins traded mixed on Tuesday. Binance Coin (BNB) was priced around $598.33 (roughly Rs. 55,636), down 0.37 percent, while Solana (SOL) traded near $79.70 (roughly Rs. 7,411), down 2.6 percent. XRP hovered around $1.3 (roughly Rs. 122), down 1.7 percent, and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.41), down 2 percent.

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Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Markets are now waiting for any signs of easing tensions that could bring back risk-taking. At the same time, institutional demand remains strong, with Strategy purchasing 4,871 BTC in the past week, helping support prices. The focus now shifts to the upcoming US CPI data. If inflation comes in lower than expected, Bitcoin could move toward $75,000 (roughly Rs. 69.74 lakh).”

Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “This price behaviour is best understood as a macro-driven consolidation and not as a momentum-led rally [...] This means the market is structurally stable [...] At the same time, institutional flows via ETFs have improved from March lows but remain inconsistent [...] Investors should wait for Bitcoin to convincingly break above $72,000 (roughly Rs. 66.95 lakh) and get consistent institutional inflows. Avoid aggressive positioning and focus on disciplined entries near support levels rather than chasing short-term moves.”

Adding to this, WazirX Markets Desk said, “The price touched intraday highs near $69,500 (roughly Rs. 64.61 lakh), amid reports of possible ceasefire developments, before pulling back. The rebound coincided with the de-escalation signals from US President Donald Trump's comments. This movement led to approximately $255 million (roughly Rs. 2,371 crore) in liquidations over the past 24 hours, of which 73 percent involved short positions.”

Overall, analysts said that the market is still in a consolidation phase because of macroeconomic uncertainty, inconsistent institutional flows, and profit booking, which all slow down upward momentum. Bitcoin's near-term direction will likely depend on easing geopolitical tensions and upcoming inflation data, which could determine whether risk appetite strengthens or remains subdued.

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.

Cryptocurrency Prices across Indian exchanges

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Further reading: cryptocurrency, Bitcoin, Ethereum, Crypto news

Rahul Dhingra

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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