Bitcoin Slips Toward $77,000 as ETF Outflows Weigh on Crypto Sentiment

Bitcoin traded near $77,000 (roughly Rs. 73.8 lakh) on Monday, as the cryptocurrency market weakened amid rising geopolitical tensions and heavy ETF outflows. The world's largest cryptocurrency witnessed a decline of 1.54 percent in the last 24 hours, based on CoinMarketCap data on Monday. Ethereum (ETH) was trading near $2,100 (roughly Rs. 2.02 lakh), reflecting weakness across the broader crypto market. As per the Gadgets 360 price tracker on Monday, Bitcoin is trading at Rs. 73.9 lakh, while Ethereum is priced near Rs. 2.03 lakh in India.

Analysts noted that weakening ETF flows and geopolitical concerns linked to the Middle East have reduced risk appetite across crypto markets, even as traders continue to maintain long positions.

Altcoins traded with notable weakness on Monday as risk appetite across crypto markets softened. Binance Coin (BNB) was priced around $639 (roughly Rs. 61,500), while Solana (SOL) traded near $84.44 (roughly Rs. 8,130). XRP hovered around $1.38 (roughly Rs. 133), and Dogecoin (DOGE) was trading close to $0.10 (roughly Rs. 10), indicating continued weakness across risk assets.

Middle East Tensions and Rising Bond Yields Pressure Risk Assets

Akshat Siddhant, Lead Quant Analyst at Mudrex, explained the current market setup and said, “Bitcoin is trading around $77,000 (roughly Rs. 73.8 lakh) as investors remain cautious amid rising tensions in the Middle East. Market sentiment weakened after Bitcoin ETFs saw nearly $1 billion (roughly Rs. 9,625 crore) in outflows, ending a six-week streak of positive inflows [...] Investors are now focused on the upcoming FOMC minutes for signals on future Fed policy.”

Commenting on recent trading activity, the CoinSwitch Markets Desk said, “Exchange inflows increased around recent highs, showing many traders were locking in profits while still remaining active in the market.”

Providing a broader assessment of market structure, Vikram Subburaj, CEO of Giottus.com, said, “The immediate issue is that BTC has slipped below the $78,000-$80,000 (roughly Rs. 75.1 lakh–Rs. 77 lakh) zone. This is now the near-term resistance [...] Strong US producer inflation, elevated bond yields and the upcoming May 20 FOMC minutes have kept traders cautious about liquidity-sensitive assets such as crypto [...] Investors should use staggered entries, maintain stop-losses, avoid overexposure to weaker altcoins, and track ETF flows before increasing allocation.”

Overall, analysts said the crypto market remains under pressure as investors assess macroeconomic uncertainty, ETF outflows, and geopolitical risks. Bitcoin's ability to hold above the $75,000 (roughly Rs. 72.1 lakh) support level and reclaim the $78,000-$80,000 (roughly Rs. 75.1 lakh–Rs. 77 lakh) resistance zone will remain key for near-term direction.

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