Bitcoin steadies near $110,000 on ETF inflows, with Ethereum holding above $4,300 as traders await US jobs data.
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Bitcoin hovers near $111,000 while Ethereum holds $4,300 as ETF inflows boost sentiment
Bitcoin is trading at $110,800 (roughly Rs. 97.6 lakh) and Ethereum at $4,320 (roughly Rs. 3.8 lakh), as per the data provided by CoinMarketCap. Spot ETF inflows by about $333 million (roughly Rs. 29,299 crores), led by institutional buyers, have lifted BTC from the support zone of $107,000-$108,000. Ethereum floats above $4,300, as strong ETF demand reinforces its utility in powering decentralised finance, NFTs, and smart contracts. On Indian exchanges, Bitcoin trades at Rs. 97.4 lakh, and Ethereum trades at Rs. 3.7 lakh.
Solana (SOL) trades near $208 (roughly Rs. 18,320), Dogecoin (DOGE) is at $0.21 (roughly Rs. 18.4), XRP is at $2.83 (roughly Rs. 247), and Binance Coin (BNB) is trading at $858 (roughly Rs. 74,900). Analysts note that cautious optimism is maintained due to institutional support for Ethereum ETFs and selective buying of altcoins, even though macroeconomic concerns keep sentiment tense ahead of Friday's US non-farm payrolls report.
Avinash Shekhar, Co-Founder and CEO of Pi42, pointed to structural flows keeping Bitcoin afloat despite turbulence. “Bitcoin is holding steady around $110,000 as stablecoin liquidity and moderate inflows signal investor confidence is quietly building. While volatility is still there but the market tone is far from bearish, and capital continues to flow into quality assets. Ethereum's push to defend the $4,300 level is backed by strong treasury growth and surging dApp activity… while Dogecoin and Solana show signs of steady accumulation.”
Edul Patel, CEO of Mudrex, highlighted policy expectations as a key driver of the rebound. “Bitcoin is on an upward trend, gaining over 4 percent since Monday's lows. This shift in momentum comes as the odds of a rate cut increased back to 90 percent. Institutional demand continues to provide tailwinds, and Ethereum whale addresses have risen by 4 percent in just 10 days. Bitcoin must clear the resistance at $113,000 to confirm a bullish structure.”
Adding a broader view, the CoinSwitch Markets Desk credited ETF demand and liquidity for the current momentum. “With $333 million in net inflows, institutions are quietly rotating capital into Bitcoin and Ethereum. The optimism is also underpinned by expectations of a September Fed rate cut, suggesting crypto could be gearing up for its next leg higher.”
For now, traders are keeping a watchful eye on whether Bitcoin can reclaim $113,000 (roughly Rs. 99 lakhs) to confirm a bullish structure or risk sliding back towards $107,000 (roughly Rs. 94.2 lakh). Broader sentiment can be driven if Ethereum manages to reclaim $4,600 (roughly Rs. 4 lakh).
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