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

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.

Retail Accumulation Grows as Market Lacks Breakout Strength

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).

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.