The global crypto market faced renewed pressure on Friday, as the price of Bitcoin slipped below $112,000. At the time of writing, Bitcoin was trading around $111,920 (roughly Rs. 98.06 lakh), down 0.3 percent in the past 24 hours, while Ethereum was priced at $4,452 (roughly Rs. 3.9 lakh), down 1.4 percent, according to data provided by CoinMarketCap. Bitcoin ETFs still recorded $115 million (roughly Rs. 100.3 cr.) in inflows, making it the fourth consecutive day of inflows, and helping to soften the downside.
Altcoins Display Cautious Optimism As Institutional Inflows Support ETH
Altcoins have displayed mixed signals on Friday. For example, Solana rose by 2 percent to $215 (roughly Rs. 18,960), adding fuel to its bullish momentum from earlier this week, while BNB rose 1.3 percent to $874 (roughly Rs. 77,077). XRP and Cardano were stable, trading at $3.00 (roughly Rs. 264) and $0.86 (roughly Rs. 75) respectively. Dogecoin held at $0.22 (roughly Rs. 19), with analysts noting growing speculation of a breakout. The support by institutional inflows into Ethereum ETFs has caused cautious optimism for Altcoins.
“Bitcoin is trading range-bound between $111,500 and $113,000 as capital migration continues into altcoins like Ethereum and Solana. Spot Ether ETFs attracted $1.83 billion in just five days, compared to $171 million for Bitcoin, showing a clear shift in investor sentiment,” said Edul Patel, CEO of Mudrex.
The CoinDCX research team said that Bitcoin’s price was consolidating between $111,500 (roughly Rs. 98.2 lakh) and $112,000 98.72 lakh). “Meanwhile, Ethereum prices also accumulate around $4,500, while BinanceCoin is heading towards new highs. Solana cleared the pivotal resistance at $210, approaching $220, while XRP & ADA have been restricted below $3 and $0.9, respectively.”
Avinash Shekhar, Co-Founder & CEO of Pi42, added: “Bitcoin is struggling to hold above $112,000 after miners offloaded nearly $485 million worth of BTC over the past week, injecting supply pressure into an already fragile market. On-chain signals show momentum slipping… Ethereum, however, remains a bright spot, with booming smart contract activity bolstering its path toward the $5,000 milestone despite short-term consolidation.”
According to the CoinSwitch Markets Desk: “The US Commodity Futures Trading Commission (CFTC), the regulator overseeing derivatives and commodity markets, announced that offshore crypto exchanges can now legally serve US clients by registering under the Foreign Board of Trade (FBOT) framework.”
Regulation may tighten in the coming sessions, as suggested by market observers. As of now, traders will keep an eye if Bitcoin can reclaim $113,000 (Roughly Rs. 99.71 lakh) and if Ethereum can reach the $4,700 (roughly Rs. 4.14 lakh) mark.
