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Bitcoin Slips Below $80,000 as Inflation Data Weighs on Crypto Market Sentiment

Bitcoin Slips Below $80,000 as Inflation Data Weighs on Crypto Market Sentiment

Crypto markets remain volatile as traders track US Fed expectations and macro signals.

Written by Rahul Dhingra, Edited by David Delima | Updated: 14 May 2026 13:44 IST

Bitcoin Slips Below $80,000 as Inflation Data Weighs on Crypto Market Sentiment

Photo Credit: Unsplash/Kanchanara

Institutional sentiment softens as crypto markets pull back from recent highs

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Highlights

ETF outflows make traders more defensive in crypto markets
Solana leads losses among major altcoins this session
Traders remain cautious after fresh US inflation readings

Bitcoin traded near $79,800 (roughly Rs. 76.6 lakh) on Thursday, as the cryptocurrency market turned cautious following stronger-than-expected US inflation data and renewed pressure on risk assets. Based on today's CoinMarketCap data, the world's largest cryptocurrency fell by 1.64 percent in the last 24 hours. Ethereum (ETH) was trading near $2,270 (roughly Rs. 2.18 lakh), reflecting weakness across the broader crypto market. As per today's Gadgets 360 price tracker, Bitcoin is currently priced around Rs. 76.12 lakh in India, while Ethereum trades near Rs. 2.13 lakh.

Analysts say that macroeconomic pressure, uneven ETF flows, and resistance near key price zones are currently limiting upside momentum, even as institutional demand continues to provide some support.

Bitcoin Discussion

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Major altcoins also remained under pressure on Thursday, broadly tracking Bitcoin's decline amidst cautious market sentiment. Binance Coin (BNB) was priced around $669.50 (roughly Rs. 64,240), while Solana (SOL) traded near $91.27 (roughly Rs. 8,760). XRP hovered around $1.43 (roughly Rs. 137), and Dogecoin (DOGE) was trading close to $0.11 (roughly Rs. 10.9), indicating reduced risk appetite across the market.

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Breaking down the latest market reaction, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin slipped toward the $79,000 (roughly Rs. 75.8 lakh) level [...] Investors are also watching developments from the talks between President Trump and China's President Xi Jinping, which could influence global market sentiment. Another key event is today's Senate vote on the CLARITY Act, with markets currently pricing in a 65 percent chance of approval.”

Providing a broader assessment of current price action, Vikram Subburaj, CEO of Giottus.com, said, “The broader crypto market also eased to about $2.65 trillion (roughly Rs. 2,54,24,100 crore), while Bitcoin dominance stayed high at nearly 60 percent. This shows that investors are not yet rotating aggressively into altcoins. Investors should avoid chasing intraday moves. A fall below $78,700-$79,000 (roughly Rs. 75.5 lakh–Rs. 75.8 lakh) can deepen the correction. A sustained move above $82,000-$84,400 (roughly Rs. 78.7 lakh–Rs. 80.9 lakh) would indicate renewed strength.”

Commenting on the broader macro environment, the CoinSwitch Markets Desk said, “April's producer inflation rose 6 percent year-over-year, its highest level since 2022, raising concerns that interest rates could stay elevated for longer than expected. This led traders to reduce short-term risk exposure across crypto markets.”

Overall, analysts said the crypto market has entered a cautious phase as investors assess inflation trends, ETF flows, and macroeconomic developments. Bitcoin's ability to hold above the $78,500-$79,000 (roughly Rs. 75.3 lakh–Rs. 75.8 lakh) support range and reclaim the $82,000-$84,400 (roughly Rs. 78.7 lakh–Rs. 80.9 lakh) resistance zone will remain crucial for near-term direction.

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: Bitcoin, Ethereum, Cryptocurrency, BTC, Crypto markets

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