Bitcoin edges higher as improving sentiment, regional equities and stabilising ETF flows support a mild recovery across the crypto market.
Bitcoin shows slight upward momentum as altcoins recover and market sentiment steadies
Photo Credit: Unsplash/Kanchanara
Bitcoin traded around $92,300 (roughly Rs. 83.3 lakh) on Friday as the crypto market attempted to stabilise after a volatile reaction earlier this week. The asset recovered from a brief pullback toward the $90,000 (roughly Rs. 81.3 lakh) zone, supported by improving risk appetite across global markets and early signs of steadier ETF flows. Ethereum (ETH) traded around $3,200 (roughly Rs. 2.93 lakh). Bitcoin is priced near Rs. 83.3 lakh in India, while Ethereum trades around Rs. 2.93 lakh, as per the Gadgets 360 price tracker.
Solana (SOL) and other altcoins staged a broad recovery. The digital asset was trading at $137 (roughly Rs. 12,420) on Friday afternoon, while XRP hovered at $2.03 (roughly Rs. 183), and Binance Coin (BNB) moved near $889.40 (roughly Rs. 80,300). Dogecoin (DOGE) traded at $0.14 (roughly Rs. 12.6).
Vikram Subburaj, CEO, Giottus, said despite weak momentum, Bitcoin's structure remains steady. “Bitcoin is stabilising after the post-Fed washout [...] Buying conviction is still lacking. The second wave of selling has been weaker than the first. This points to stabilisation rather than a renewed uptrend. Macro signals have added noise without direction.”
Riya Sehgal, Research Analyst, Delta Exchange, said crypto markets strengthened alongside global equities. “Crypto markets gained 2.7 percent in the past 24 hours; Bitcoin rose 2.6 percent to $92,280 (roughly Rs. 83.3 lakh), supported by regional equities and a recovery in risk appetite. Ethereum, Solana, and XRP followed [...] Spot ETF activity shows early stabilisation after weeks of outflows, suggesting easing redemption pressure and potential institutional demand [...] Regulatory clarity is improving, with US crypto legislation and CFTC updates supporting institutional outlook.”
Nischal Shetty, Founder, WazirX, said global macro uncertainty continues to weigh on risk assets. “Over the past 24 hours, global macro trends have become increasingly uneven, shaping a cautious outlook for digital assets. China's noticeable slowdown in capital investment highlights structural vulnerabilities beneath its ongoing fiscal support, reinforcing concerns about the sustainability of traditional economic models [...] Crypto remains in consolidation, with Bitcoin and Ethereum awaiting clearer catalysts.”
Bitcoin's rebound suggests improving sentiment, though confidence remains tentative. Analysts note that BTC needs to hold above $90,000 (roughly Rs. 81.3 lakh) to preserve its current market structure, while a decisive move back above $94,000 (roughly Rs. 84.9 lakh) with stronger liquidity could lay the groundwork for a more sustained upside trend in the sessions ahead.
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