Bitcoin’s price stabilised around $110,000 (roughly Rs. 96.7 lakh) on Thursday, as trading volumes remained muted amidst ongoing US-China trade tensions and the US government shutdown, which is now in its fourth week. Traders are cautious and waiting for more definite signals as a result of the uncertainty created by the postponement of important US economic data. Ethereum mirrored the trend, hovering around $3,800 (roughly Rs. 3.3 lakh). According to the Gadgets 360 price tracker, Bitcoin is trading around Rs. 95.5 lakh, while Ethereum is priced at Rs. 3.3 lakh on major Indian exchanges.
Altcoins Trade in Tight Ranges as Market Consolidates
Most altcoins stayed within narrow ranges as the broader crypto market continued to consolidate. XRP hovered around $2.39 (roughly Rs. 210), while Binance Coin (BNB) traded near $1,100 (roughly Rs. 94,200). Dogecoin (DOGE) stood at $0.19 (roughly Rs. 16.80) and Solana (SOL) was priced at $184 (roughly Rs. 16,210).
Noting that Bitcoin’s recent price action signals cautious optimism among investors, Mudrex CEO Edul Patel said, “Bitcoin is consolidating within a narrow range after briefly reclaiming $114,000 (roughly Rs. 1 crore), as investors are cautious. Despite this, the broader outlook remains bullish, supported by renewed whale accumulation of over 12,000 BTC in the past week. More importantly, the global M2 money supply is increasing, standing at $137 trillion (roughly Rs. 12,00,000 crore).”
According to the CoinSwitch Markets Desk, Bitcoin remains in a holding pattern as traders await macro clarity. “Uncertainty surrounding U-China trade discussions and the US government shutdown entering its fourth week, which has delayed key economic data releases, is keeping market activity measured […] Meanwhile, Bitcoin’s options open interest now exceeds futures by $40 billion (roughly Rs. 3,50,000 crore), one of the widest gaps on record, reflecting increased hedging activity and a mature market structure,” the desk said
The CoinDCX Research Team added that sentiment remains fragile despite strength in select large-cap tokens. “The top gainers for the day are Hyperliquid with over a 6 percent jump, Mantle with over 3 percent, and Monero by over 2.7 percent. Besides, Zcash plunges by more than 10 percent, followed by DoubleZero and SPX6900 by over 7.7 percent,” the team said.
Looking ahead, a decisive break above $110,000 (roughly Rs. 96.7 lakh) would likely restore momentum and open the way towards $113,800 (roughly Rs. 1 crore), while a drop below $106,500 (roughly Rs. 93.6 lakh) could extend corrective pressure.
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