Crypto Market Eyes Break Above Key Resistance Level as Bitcoin Price Rises to $87,900

Bitcoin's price hovered near $87,879 (roughly Rs. 78.4 lakh) on Tuesday as the crypto market attempted to extend last session's recovery. The upward move follows last week's rebound from levels near $81,000 (roughly Rs. 72.2 lakh), with traders increasingly speculating on improving macro conditions and potential monetary easing. Ethereum (ETH) traded around $2,916 (roughly Rs. 2.60 lakh). Bitcoin is priced around Rs. 78.2 lakh in India, while Ethereum trades near Rs. 2.60 lakh, as per the Gadgets 360 price tracker.

Altcoins Gain as Market Sentiment Improves

Alongside Bitcoin's recovery, altcoins like Solana (SOL) rose 5.06 percent to $137 (roughly Rs. 12,270), XRP gained 8.08 percent to $2.23 (roughly Rs. 199), and Binance Coin (BNB) edged up 0.95 percent to $859.90 (roughly Rs. 76,700). Dogecoin (DOGE) increased 3.05 percent to $0.15 (roughly Rs. 13.45).

Mudrex CEO Edul Patel said the latest bounce reflects improving expectations ahead of key economic events. “Even with mixed employment data, the stronger-than-expected addition of 119,000 jobs signals room for policy easing. Growing anticipation around potential Quantitative Easing has further strengthened the outlook. With resistance at $90,000 (roughly Rs. 80 lakh) and support climbing to $85,000 (roughly Rs. 75.7 lakh), Bitcoin continues to trade within a constructive bullish range.”

On the other hand, the WazirX Trading Desk said Bitcoin's recovery remains fragile amidst cautious institutional flows. “The extreme fear sentiment persists, but amidst the large volume of ETF outflows, a new institutional investor, capital market firm Citadel Securities, is moving towards diversifying its portfolio with crypto. The macro conditions remain unfavourable as the market struggles with liquidity, and any inflows into risk-on assets could trigger a significant movement in the market. [...] As of now both BTC and ETH will continue on the consolidation path unless a major macro movement triggers otherwise.”

The CoinSwitch Markets Desk highlighted improving momentum and the potential for further upside. “BTC crossed $89,000 (roughly Rs. 79.6 lakh) due to US equity market rebound, while positive US–China geopolitical developments further boosted market sentiment. BTC ETFs saw a small but positive $9.7 million (roughly Rs. 86.5 crore) inflow. If this momentum continues, BTC could make another attempt at breaking the $90,000 (roughly Rs. 80 lakh) level, which has acted as a key barrier in recent sessions.”

Market sentiment has strengthened modestly, helped by ETF inflows, easing inflation expectations, and improving geopolitical sentiment. Analysts say Bitcoin may attempt to break $90,000 (roughly Rs. 80 lakh) in the coming sessions, while failure to hold support near $85,000 (roughly Rs. 75.7 lakh) could reopen downside risk.