Bitcoin stays under pressure as thin liquidity and macro uncertainty keep the crypto market range-bound ahead of the Fed decision.
Crypto traders watch key support levels as volatility picks up ahead of major macro events
Photo Credit: Unsplash/Michael Förtsch
Bitcoin traded near $89,800 (roughly Rs. 80.7 lakh) on Tuesday as the crypto market continued to move despite thinning liquidity. The digital asset briefly tested lower levels overnight but remained within its established range, and it looks like traders were waiting for macro clarity before committing fresh capital. Ethereum (ETH) traded around $3,100 (roughly Rs. 2.79 lakh). According to the Gadgets 360 tracker, Bitcoin is priced near Rs. 80.7 lakh in India, while Ethereum trades around Rs. 2.79 lakh.
Solana (SOL) and other altcoins saw mild declines over the past 24 hours, and while SOL was trading at $132 (roughly Rs. 11,900), XRP hovered around $2.05 (roughly Rs. 184), Binance Coin (BNB) was priced at $891 (roughly Rs. 80,200), and Dogecoin (DOGE) traded at $0.14 (roughly Rs. 12.6).
Nischal Shetty, Founder, WazirX, said broader market correlations are tightening. “The BIS warning about a rare simultaneous surge in gold and equities signals an environment driven more by excess liquidity than fundamentals. When liquidity dominates, cross-asset correlations tighten. Ethereum, in particular, is trading increasingly as part of the broader risk-asset ecosystem [...] Today, macro variables like central bank decisions, yield movements, and liquidity cycles shape ETH volatility more than on-chain activity.”
Vikram Subburaj, CEO, Giottus, said traders are unwilling to chase upside. “Seven million BTC is now sitting at an unrealised loss, and traders are reluctant to chase upside. Even short rallies toward $92,000 (roughly Rs. 82.7 lakh) are meeting with resistance [...] The key focus now is the US Fed meeting: a 25 bps cut is already priced in. So, Fed Chair Powell's guidance is likely to matter more than the rate move itself [...] For investors, this is a range-bound market.”
Bitcoin's current structure reflects a market waiting for a macro catalyst while navigating thin liquidity and hesitant demand. Analysts say BTC must hold above $88,000 (roughly Rs. 79.1 lakh) to maintain stability. In comparison, a clean breakout above $92,000 (roughly Rs. 82.7 lakh) could pave the way for higher resistance levels if the Fed's outlook becomes more supportive.
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