The global crypto market appears to be making cautious moves this week, and Bitcoin (BTC), the world’s oldest cryptocurrency, was trading around $110,000 (roughly Rs. 96 lakh) on Tuesday, slightly down over the past 24 hours, as per CoinMarketCap. Ethereum (ETH) showed consistency as it was trading at $4,312 (roughly Rs. 4 lakh). Analysts highlighted that the $105,000-$108,000 range has become a crucial support for BTC. The current $110,000 price was a key level to be reclaimed, as September has proven to be a historically weaker month for Bitcoin.
Altcoins Show Stability As Ethereum ETFs Surge Amid Bitcoin Volatility
Among altcoins, Solana (SOL) is at $203 (roughly Rs. 17,900), Dogecoin (DOGE) is stable at $0.21 (roughly Rs. 18), XRP traded at $2.87 (roughly Rs. 250), and Binance Coin (BNB) hovered at $856 (roughly Rs. 75,400). Market observers pointed out that even though Bitcoin struggles to gain momentum, institutional inflows into ETH ETFs have created cautious optimism for altcoins.
Avinash Shekhar, Co-Founder and CEO of Pi42, underlined growing caution despite institutional support. “Bitcoin is holding near $110,000, but the footing looks fragile as whales shuffle positions and on-chain flows raise caution. Yet beneath the surface, institutional appetite remains resilient US spot ETFs saw fresh net inflows, and Japan’s Metaplanet lifted its holdings past 20,000 BTC, reinforcing long-term conviction. The market is also bracing for a potential ‘Red September.” He noted that Ethereum and Solana are quietly gaining traction, while XRP consolidation may precede a breakout.
The CoinSwitch Markets Desk also highlighted the growing shift in capital flows. “A Bitcoin whale worth over $11 billion sold another $215 million (roughly Rs. 18,920 crore) worth of Bitcoin to buy $216 million (roughly Rs. 19,010 crore) worth of spot ETH,” it said, adding that the move strengthens Ethereum’s case as an institutional asset, while reflecting a broader rotation into altcoins.
“Bitcoin exchange reserves have dropped to a seven-year low, signaling strong investor conviction and easing immediate sell-side pressure. On the other hand, Ethereum is trading in a tight range around $4,300 as whale inflows are yet to contribute to the price action,” said Edul Patel, CEO of Mudrex, who pointed to encouraging signs beneath the surface.
Despite the short-term market sentiment being cautious, Japanese company Metaplanet added 1,004 BTC worth $112 million (about Rs. 9,860 crores), bringing its total to 20,000 BTC holdings.
For now, traders will keep a watchful eye on whether Bitcoin can reach $115,000 (roughly Rs. 1.01 crore) or if fresh weakness drags it backwards, to $100,000 (roughly Rs. 88 lakh). Ethereum reclaiming $4,600 (roughly Rs. 4.05 lakh) will be crucial in building broader sentiment.
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