Bitcoin hovered near $91,000 as traders stayed cautious ahead of key US inflation data.
Photo Credit: Unsplash/André François McKenzie
Bitcoin and Ethereum trade steady as markets track US inflation data
Bitcoin traded largely flat as the cryptocurrency market remained cautious on Tuesday, with investors waiting for clarity from macro signals rather than reacting to crypto-specific news. Analysts said Bitcoin is trading around the $91,000 zone (roughly Rs. 82.15 lakh) after last week's volatility, with markets focused on upcoming US inflation data that could influence interest-rate expectations. Institutional interest showed early signs of stabilising as US spot Bitcoin ETFs recorded modest inflows after earlier outflows, though the flows were not strong enough to drive a breakout. Ethereum (ETH) traded near $3,125 (roughly Rs. 2.82 lakh), holding above the $3,000 mark as broader sentiment remained measured. Bitcoin is priced near Rs. 82.15 lakh in India, while Ethereum trades around Rs. 2.82 lakh, as per the Gadgets 360 price tracker.
Market sentiment was restrained on Tuesday, as investors continued to price in headline CPI close to 2.7 percent year-on-year, making the upcoming data release a key near-term catalyst. A softer inflation reading could lift risk sentiment and support Bitcoin, while a higher print may trigger brief volatility around the $90,000 zone (roughly Rs. 81.24 lakh).
Altcoins traded mixed as the broader market moved sideways. XRP traded near $2.05 (roughly Rs. 185), while Solana (SOL) was priced around $140.47 (roughly Rs. 12,680). Binance Coin (BNB) hovered near $909.36 (roughly Rs. 82,100), and Dogecoin (DOGE) traded close to $0.14 (roughly Rs. 12.5).
Explaining why prices are moving sideways, Vikram Subburaj, CEO of Giottus, said macro uncertainty is keeping traders cautious. “Bitcoin is trading around the $91,000 zone (roughly Rs. 82.15 lakh) after last week's volatility [...] On-chain data also shows reduced retail activity but steady capital movement by larger participants, which typically points to consolidation rather than panic selling.”
On broader market trends and altcoin performance, Nischal Shetty, Founder of WazirX, said liquidity remains thin and sentiment has turned risk-off. “XRP's recent funding round kept the focus on Ripple alive despite mild price dips in the last 24 hours [...] While Asian equity markets showed strength, led by Japan, China, and South Korea, this optimism has not fully translated into altcoin momentum.”
Sharing his near-term outlook, Akshat Siddhant, Lead Quant Analyst at Mudrex, said upcoming US inflation data will be a key trigger for Bitcoin and Ethereum. “A softer reading could lift risk sentiment and support Bitcoin, while a higher print may lead to brief volatility around the $90,000 zone.”
Overall, analysts said crypto prices are moving sideways as markets wait for clarity from macro signals rather than crypto-specific developments. For now, Bitcoin's ability to hold above key support and Ethereum's strength above $3,000 (roughly Rs. 2.71 lakh) remain central to near-term market direction.
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