Bitcoin regains momentum as easing tariff fears lift market confidence.
Bitcoin trades higher as global risk sentiment improves
Photo Credit: Unsplash/Kanchanara
Bitcoin traded near $90,000 (roughly Rs. 82.4 lakh) on Thursday, as the cryptocurrency market regained momentum following easing tariff-related uncertainty. Analysts said investor confidence improved after the US signalled progress on a Greenland-related framework, reducing near-term trade risks for Europe. Ethereum (ETH) stabilised above the $3,000 (roughly Rs. 2.76 lakh) mark, reflecting a broader risk-on tone across global markets. Bitcoin is currently priced around Rs. 82.5 lakh in India, while Ethereum trades near Rs. 2.76 lakh, as per today's Gadgets 360 price tracker.
Market players claim that the recovery follows a slight risk-on rebound driven by US President Donald Trump's softening stance on tariffs on Greenland. This relief rally followed the US President's announcement of a framework for a future agreement with NATO, which led to increases in stocks and a decrease in safe-haven assets. However, experts cautioned that the easing of tensions could prove temporary, keeping overall sentiment in “extreme fear” territory and limiting aggressive upside moves in crypto markets.
Altcoins traded mixed on Thursday. Binance Coin (BNB) was priced around $890.48 (roughly Rs. 81,620), while Solana (SOL) traded near $130.21 (roughly Rs. 11,925). XRP hovered around $1.95 (roughly Rs. 179), and Dogecoin (DOGE) was trading close to $0.1267 (roughly Rs. 11.60).
Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “On-chain trends also point to accumulation, with mid-sized Bitcoin holders adding around 36,300 BTC over the past nine days. Further support came from indications that a US crypto market structure bill is nearing completion. For Bitcoin, resistance is seen near $94,300 (roughly Rs. 86.4 lakh), while $88,200 (roughly Rs. 80.8 lakh) remains a strong support area.”
Sharing his view on market structure, Nischal Shetty, Founder of WazirX, said, “Over the last 24 hours, crypto markets have closely aligned with global macro signals, underscoring how price action is increasingly shaped by broader risk sentiment. Along with other large-cap cryptos, Bitcoin is moving through a consolidation phase as participants reassess liquidity conditions, positioning, and the evolving macro backdrop.”
Commenting on the technical outlook, Riya Sehgal, Research Analyst at Delta Exchange, said, “The relief rally followed Trump's announcement of a framework of a future deal with NATO, prompting gains in equities and a pullback in safe havens. However, concerns remain that the easing of tensions may be temporary, keeping market sentiment in ‘extreme fear' territory [...] Overall, traders are watching for confirmation of a base amidst heavy liquidations and macro uncertainty.”
Overall, analysts said crypto markets are showing early signs of stabilisation as macro tensions ease and on-chain accumulation picks up. Bitcoin's ability to hold above the $88,200 (roughly Rs. 80.8 lakh) support zone and challenge resistance near $94,300 (roughly Rs. 86.4 lakh) will remain central to near-term direction. Meanwhile, Ethereum's hold above $3,000 (roughly Rs. 2.7 lakh) is seen as supportive for broader sentiment, while altcoins are expected to stay volatile as investors track global policy cues.
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