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Bitcoin Price Steadies Near $71,000 as Momentum Slows Despite Rising Retail Demand

Bitcoin Price Steadies Near $71,000 as Momentum Slows Despite Rising Retail Demand

Retail accumulation rises even as Bitcoin struggles to build upward momentum.

Written by Rahul Dhingra, Edited by David Delima | Updated: 9 April 2026 12:56 IST

Bitcoin Price Steadies Near $71,000 as Momentum Slows Despite Rising Retail Demand

Photo Credit: Unsplash/Kanchanara

Bitcoin holds steady as accumulation rises but momentum weakens

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Highlights

Long-term holders continue to accumulate Bitcoin supply
ETF flows remain inconsistent across recent sessions
Altcoins lag as broader market participation stays weak

Bitcoin traded near $71,000 (roughly Rs. 65.8 lakh) on Thursday, as the cryptocurrency market showed signs of slowing momentum after failing to sustain above higher levels. According to analysts, the recent price action suggests a pause rather than a reversal, with improving sentiment but limited follow-through. Ethereum (ETH) declined to $2,100 (roughly Rs. 2.02 lakh), reflecting continued weakness across altcoins. Bitcoin is currently priced around Rs. 65.7 lakh in India, while Ethereum trades near Rs. 2 lakh, as per today's Gadgets 360 price tracker.

On Thursday, Bitcoin was trading in a narrow range between $69,500 (roughly Rs. 64.4 lakh) and $73,000 (roughly Rs. 67.6 lakh) as investors balance easing geopolitical tensions with weak crypto-specific signals. Analysts indicate that while global sentiment has improved, relatively low spot volumes suggest that the rally lacks strong conviction and may remain range-bound in the near term.

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Altcoins traded mostly lower on Thursday. Binance Coin (BNB) was priced around $600.25 (roughly Rs. 55,600), while Solana (SOL) traded near $82.05 (roughly Rs. 7,600). XRP hovered around $1.33 (roughly Rs. 123), and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.4).

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Akshat Siddhant, Mudrex's Lead Quant Analyst, talked about how the market is set up now, “Bitcoin is holding near the $71,000 (roughly Rs. 65.8 lakh) level after attempting to move past $73,000 (roughly Rs. 67.6 lakh), showing a pause in momentum. However, retail participation is picking up again, with over 4.37 million BTC accumulated in recent weeks, indicating growing long-term confidence in the market. This supports the broader bullish outlook despite short-term hesitation.”

Sharing their market view, CoinSwitch Markets Desk said, “BTC's move above $72,000 (roughly Rs. 66.7 lakh) is largely driven by improving global sentiment following easing geopolitical tensions after the temporary US-Iran ceasefire. The rebound in equities and decline in oil have supported risk assets broadly. However, crypto-specific signals remain mixed, with spot volumes still relatively low, suggesting limited conviction among participants.”

Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin's current price movement is being driven by shifts in inflation expectations, interest-rate outlook, dollar strength, and institutional ETF flows, rather than by underlying crypto demand or network activity. Institutional flows via spot ETFs have turned net positive in recent sessions, but remain inconsistent [...] For investors, this is a range-bound and macro-sensitive phase. A prudent approach is to avoid aggressive positions, accumulate gradually near support levels, and stay alert to macro triggers that could define the next move.”

Overall, analysts indicate that the market is currently navigating a phase of stabilisation, where improving sentiment is being offset by weak demand signals and inconsistent institutional flows. Bitcoin's movement within the $69,500 (roughly Rs. 64.4 lakh) to $73,000 (roughly Rs. 67.6 lakh) range will remain critical, with macro data and participation levels likely to determine whether the next move turns into a sustained trend or continues as sideways consolidation.

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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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