Bitcoin traded near $78,000 (roughly Rs. 73.5 lakh) on Friday, as the cryptocurrency market showed signs of consolidation after a recent rally. The world’s largest cryptocurrency remained supported by institutional inflows, though short-term profit-taking capped further upside. Ethereum (ETH) slipped below the $2,300 (roughly Rs. 2.1 lakh) mark and was reflecting mild weakness across the broader market. Bitcoin is currently priced around Rs. 73 lakh in India, while Ethereum trades near Rs. 2.1 lakh, as per the crypto price tracker on Gadgets 360.
According to market participants, Bitcoin is currently trading in a defined range between $76,000 and $80,500 (roughly Rs. 71.6 lakh–Rs. 75.9 lakh) as investors assess macroeconomic cues and institutional flows. While ETF inflows have resumed, April outflows indicate that institutional participation remains cautious and selective rather than aggressive.
Market Consolidates As Investors Track Institutional Flows
Across the broader market, altcoins displayed mixed performance on Friday. Binance Coin (BNB) was priced around $633.79 (roughly Rs. 59,740), while Solana (SOL) traded near $85.65 (roughly Rs. 8,070). XRP hovered around $1.43 (roughly Rs. 135), and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 9.14), indicating selective participation across the broader market.
Commenting on the current market trend, the CoinSwitch Markets Desk said, “The recent 12 percent monthly rise toward $79,000 (roughly Rs. 74.4 lakh) shows momentum, although much of the move has been supported by activity in futures markets rather than steady spot buying.”
Sharing his market outlook, Vikram Subburaj, CEO of Giottus.com, said, “The crypto market is steady but not risk-on yet. Bitcoin is near $78,000-$78,300 (roughly Rs. 73.5 lakh–73.8 lakh) on April 24, supported by ETF inflows but capped by resistance near $80,000-$80,500 (roughly Rs. 75.4 lakh–75.9 lakh). Sharp rallies may continue to face selling pressure near resistance. Investors may find better risk-reward in gradual accumulation near support while keeping cash buffers ahead of the April 28-30 macro window.”
Providing further insight, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Spot Bitcoin ETFs have recorded over $335 million in inflows, marking seven straight days of positive flows. At the same time, exchange reserves are close to record lows, showing that fewer investors are looking to sell. This limited supply is helping prices stay strong.”
Overall, analysts said crypto markets remain in a consolidation phase as investors track macro cues, ETF flows, and geopolitical developments. Bitcoin’s ability to sustain above the $77,000 (roughly Rs. 72.5 lakh) support zone and attempt a move toward the $80,000 (roughly Rs. 75.4 lakh) resistance level will remain key to determining near-term direction.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
