Bitcoin traded higher on Thursday as the cryptocurrency market extended gains, supported by strong institutional demand and easing macro concerns. The world’s largest cryptocurrency was priced around $96,600 (roughly Rs. 87.3 lakh), hitting fresh eight-week highs as investors brushed off worries around elevated US producer price inflation. Analysts said positive inflation data, favourable regulatory developments, and consistent inflows into spot Bitcoin ETFs were the main drivers of renewed optimism. Ethereum (ETH) traded near $3,300 (roughly Rs. 3 lakh), holding firm as broader risk appetite improved. Bitcoin is priced near Rs. 87.26 lakh in India, while Ethereum trades around Rs. 3.01 lakh, as per the Gadgets 360 price tracker.
As traders evaluated encouraging macro developments and regulatory cues, market sentiment remained positive. According to analysts, the US Supreme Court’s decision not to rule on international trade tariffs eased near-term uncertainty, while continued ETF inflows signalled growing institutional confidence. According to data, the capitalisation of the global cryptocurrency market is currently close to $3.25 trillion (roughly Rs. 2,93,63,750 crore), indicating an improvement in investor sentiment.
Institutional Flows and Macro Signals Shape Market Direction
Altcoins traded mixed as liquidity remained concentrated in larger tokens. XRP traded near $2.10 (roughly Rs. 190), while Solana (SOL) was priced around $144.93 (roughly Rs. 13,100). Binance Coin (BNB) hovered near $938.49 (roughly Rs. 84,800), and Dogecoin (DOGE) traded close to $0.14 (roughly Rs. 12.66).
Explaining the drivers behind Bitcoin’s recent surge, Piyush Walke, Derivatives Research Analyst at Delta Exchange, said, “Markets largely brushed off concerns that higher inflation could lead to tighter Federal Reserve policy, which would normally weigh on crypto and other risk assets […] Bitcoin now faces key resistance in the $98,000–$100,000 range (roughly Rs. 88.5 lakh–Rs. 90.4 lakh), while Ethereum aims at $3,500 (roughly Rs. 3.1 lakh) as its next major level.”
On broader market trends and altcoin performance, Nischal Shetty, Founder of WazirX, said,
“Headlines around China’s record trade surplus and slowing growth signals from the UK are reinforcing concerns about uneven global demand, tighter liquidity, and policy fragmentation. In this environment, investors are becoming more selective, reducing exposure to higher-beta assets […] Until macro clarity improves, either through easing financial conditions or stabilising global growth, altcoins are likely to remain volatile, with rallies driven more by short-term rotation than broad-based conviction.”
Highlighting derivatives activity and institutional positioning, the CoinSwitch Markets Desk said,
“ETF-driven buying is steadily absorbing supply rather than fueling leverage-led volatility. With limited resistance ahead and strong liquidity clustered near $100,000 (roughly Rs. 90.3 lakh), momentum continues to favour further upside.”
Overall, analysts said crypto markets remain in positive territory as institutional inflows, short covering, and supportive regulatory developments continue to drive momentum. Bitcoin’s ability to hold above the $95,000 (roughly Rs. 85.8 lakh) support zone and push toward the $100,000 (roughly Rs. 90.3 lakh) resistance will remain central to near-term direction. In comparison, Ethereum’s move toward $3,500 (roughly Rs. 3.1 lakh) could further strengthen broader market sentiment. At the same time, altcoins are expected to remain volatile as liquidity stays concentrated in major assets amid ongoing macro uncertainty.
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.
