Crypto markets remain stable as Bitcoin’s price steadies and altcoins trade flat.
Traders eye global cues as Bitcoin drops to $111,700 and Ethereum consolidates near $4,300.
Photo Credit: Unsplash/Traxer
Bitcoin's price dropped slightly over the past 24 hours, and the digital asset is currently priced at $111,700 (roughly Rs. 98.4 lakh), while Ethereum sits at $4,300 (roughly Rs. 3.8 lakh), as per data provided by CoinMarketCap. Crypto investors are cautiously awaiting key policy updates and economic data. US Consumer Price Index (CPI) figures and the European Central Bank (ECB) decisions are looming over the market, acting as possible catalysts and adding to the cautious sentiment. On Indian exchanges, the prices of BTC and ETH remained steady at Rs. 98.2 lakh and Rs. 3.7 lakh, respectively.
On Wednesday, Dogecoin (DOGE) was trading at $0.23 (roughly Rs. 20), while Solana (SOL) was also selling at the same price as yesterday, at $218 (roughly Rs. 19,200). XRP also remained stable at $2.92 (roughly Rs. 257), while Binance Coin (BNB) rose slightly by 0.2 percent to $881 (roughly Rs. 77,600). Broader market shifts and evolving ETFs are also gaining investor attention.
Edul Patel, CEO of Mudrex, highlighted macro caution and added, “Thursday's CPI release and the ECB's decision could be key catalysts, influencing the market trajectory. A breakout above $113,000 (roughly Rs. 99.6 lakh) would confirm renewed momentum, with strong support at $110,400 (roughly Rs. 97.2 lakh). DOGE and XRP remain in focus as anticipation of ETF approval draws in fresh liquidity.”
CoinDCX Research Team pointed to consolidation, “Markets continue to consolidate, with Bitcoin slipping below $112,000 (roughly Rs. 98.7 lakh) yet maintaining momentum. ETH and XRP are relatively flat, while BNB, SOL, and DOGE appear primed for a breakout. Top gainers include MYX Finance, up 22.75 percent, Story and Worldcoin, each up over 20 percent [...] The trading volume of Litecoin has surged while Ethena USDe (USDE) debuts on Binance, hinting at explosive moves in the near future.”
Meanwhile, the CoinSwitch Markets Desk noted macro impact and outflows, stating “BTC slipped below $112,000 (roughly Rs. 98.7 lakh) following a 911,000 job downward payroll revision. Unemployment rose to 4.3 percent, heightening recession fears unless the Fed steps in with rate cuts [...] Analysts point to seasonal weakness as a contributing factor to the current slump.”
“Bitcoin's sharp rebound above $113,000 (Rs. 99.5 lakh) underlines the resilience of investor confidence in the asset, even amid heightened market volatility. This rally signals that institutional and retail demand remains robust, and we may be entering a phase where Bitcoin continues to set the tone for the broader crypto ecosystem,” said Avinash Shekhar, Co-Founder & CEO of Pi42
Bitcoin seems stable and locked between $111,000 (Rs. 97.8 lakh) and $113,000 (roughly Rs. 99.5 lakh) as the market awaits macro cues against stabilizing sentiment. Ethereum is fluctuating around the $4,280 (roughly Rs. 3.8 lakh) mark, while altcoins show stability and potential. CPI readings and the ECB's policy tune could set the course ahead for crypto traders. A breakthrough above $113,000 (roughly Rs. 99.5 lakh) of BTC could reestablish a bullish trajectory, while a failure to do so might extend consolidation.
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