Crypto prices today: Bitcoin holds steady above $105,000 as investors await key US data
ADVERTISEMENT At 11:38 am IST, Bitcoin was down 0.1% at $105,496, while Ethereum slipped 1.1% to $2,485, according to CoinMarketCap. The world's largest cryptocurrency touched an intraday high of $106,497, holding firm despite recent volatility. The global crypto market cap edged lower by 0.13% to $3.29 trillion.
'Bitcoin is currently consolidating near $105,500 after retreating from its recent all-time high of $111,000,' said Sathvik Vishwanath, Co-Founder and CEO of Unocoin. 'The correction was largely driven by macroeconomic pressures, including rising bond yields and global tariff tensions. But strong institutional inflows and ETF demand continue to support the bullish structure.'
Analysts noted that Bitcoin continues to trade above its 50-day and 200-day moving averages, pointing to underlying strength. Market watchers highlighted $106,500 as the next resistance to watch, while key support sits around $103,000.Vikram Subburaj, CEO of Giottus, said, 'Bitcoin reclaimed $105,000 over the weekend despite earlier ETF outflows and a risk-off sentiment favouring precious metals. It is now consolidating again and could test the $108,000 level soon, though seasonal factors may cap upside in the short term.'Adding to the optimism, on-chain data suggests rising interest from large holders. 'CryptoQuant data shows whale holdings have surged to 3.57 million BTC, nearing the previous all-time high,' said Alankar Saxena, Co-founder and CTO of Mudrex. 'This trend indicates that institutions and high-net-worth investors are accumulating during dips, expecting higher prices ahead.'
ADVERTISEMENT However, Saxena cautioned that if Bitcoin fails to hold above current levels, support at $101,600 could come into play before fresh buying resumes.
Also Read: Interest rate wars: Which central banks are cutting, which are hiking?
ADVERTISEMENT Altcoins showed a mixed performance. XRP led gains with a 3% rally, while Solana, Avalanche, Hedera, and Internet Computer also edged higher, rising up to 6.4%. Meanwhile, BNB, Dogecoin, Tron, Sui, Chainlink, and Shiba Inu slipped by up to 2%.CoinSwitch Markets Desk noted, 'BTC has recovered from its recent drop to $101,000 and is now showing signs of renewed strength. ETH, meanwhile, continues to hover near $2,500.'
ADVERTISEMENT Also read: Exclusive | Raamdeo Agrawal reveals his simple 2-step formula for finding multibagger stocksIn a notable development, XRP was added to the Nasdaq Crypto US Settlement Price Index, marking another step toward institutional adoption. Separately, Cetus Protocol — a decentralised exchange on the Sui and Aptos networks — relaunched after a $223 million exploit, claiming to have restored 99% of its liquidity.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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