Crypto investors remain wary as Ethereum gains ETF support and Bitcoin steadies near $111,500.
Traders monitor Bitcoin and Ethereum as Fed policy expectations shape crypto market sentiment.
Photo Credit: Unsplash/Art Rachen
The crypto market enters Friday with a cautious yet steady note, with traders balancing expectations of Federal Reserve Policy decisions against the ongoing ETF demand. At the time of writing, Bitcoin is trading at $111,500 (roughly Rs. 98.4 lakh), while Ethereum stands at $4,300 (roughly Rs. 3.8 lakh), as per the data provided by CoinMarketCap. Analysts say a fall in reserves and supply limitations are going to act as a ladder to climb to $5,000 (roughly Rs. 4.4 lakh) mark for Ethereum. On Indian exchanges, Bitcoin is priced at Rs. 98.4 lakh, and Ethereum is priced at Rs. 3.8 lakh.
Among major altcoins, Solana (SOL) traded around $204 (roughly Rs. 18,000), Dogecoin (DOGE) at $0.21 (roughly rs. 18.5), XRP at $2.82 (roughly Rs. 249), Binance Coin (BNB) at $846 (roughly Rs. 74,500), and Cardano (ADA) near $0.82 (roughly Rs. 72). Movements were modest, with Solana and XRP under slight weight, while Dogecoin and Cardano held their own with selective buying. Overall, the altcoins mirrored Bitcoin with a similar cautious tone.
Avinash Shekhar, Co-Founder & CEO of Pi42, said the crypto market is at a cautious stage, with sentiment balanced between fear and appetite. “Bitcoin's ability to hold above $120,000 (roughly Rs. 1.5 crores) now hinges on Fed rate cut expectations rather than ideology. Robust ETF flows have softened September weakness and buffered price action. The tug between treasury holders and ETF demand is adding complexity. XRP has hit resistance, Solana is slipping under short-term pressure, while Ethereum and Bitcoin show rotating demand. If Fed signals turn dovish, selective conviction could steer the next meaningful momentum swiftly.”
Mudrex CEO Edu Patel noted that Bitcoin is consolidating in the $107,000–$113,000 (roughly Rs. 94 lakh - 99 lakh) range after weaker-than-expected US labour data. “With the Federal Reserve's September 16-17 meeting on the horizon, attention is firmly on interest rates. The coming weeks are likely to be pivotal. A sustained move above $112,000 (roughly Rs. 98 lakh) could restore bullish momentum and reassert upward control. On the downside, a drop below $100,000 (roughly Rs. 88 lakh), and more critically $92,000 (roughly Rs. 88 lakh).”
The market remains consolidated, with future policies guiding Bitcoin and ETF flows supporting Ethereum. Analysts believe the Fed's September meeting will be the key driver. A breakout above $113,000 (roughly Rs. 94 lakh) would signal renewed bullish strength, while a fall below $100,000 (roughly Rs. 83 lakh) could put pressure on the market. Ethereum reclaiming $4,600 (roughly Rs. 4 lakh) would further lift market confidence, with altcoins likely to follow broader trends.
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