Bitcoin was trading around $72,000 (roughly Rs. 66.7 lakh) on Friday, as the cryptocurrency market remained range-bound amid rising macro uncertainty and selling pressure. According to analysts, recent price action reflects hesitation near key resistance levels, with ETF outflows adding to short-term pressure. Ethereum (ETH) was trading near $2,200 (roughly Rs. 2.03 lakh), indicating mild strength but limited follow-through across altcoins. Bitcoin is currently priced around Rs. 66.4 lakh in India, while Ethereum trades near Rs. 2 lakh, as per today’s Gadgets 360 price tracker.
Analysts noted that recent ETF outflows of over $250 million (roughly Rs. 2,316 crore) have contributed to selling pressure, while upcoming inflation data remains a key trigger for the next directional move.
ETF Flows and Inflation Data Drive Market Direction
On Friday, Binance Coin (BNB) was priced around $602.10 (roughly Rs. 55,800), while Solana (SOL) traded near $83.39 (roughly Rs. 7,700). XRP hovered around $1.34 (roughly Rs. 124), and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.5).
Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is facing rejection at the $73,000 (roughly Rs. 67.6 lakh) level as global uncertainty and macro concerns keep the market in a range […] If inflation comes in lower than expected, Bitcoin could break above $73,000 (roughly Rs. 67.6 lakh) and move toward $76,000 (roughly Rs. 70.4 lakh). If not, prices may fall back toward the $68,000 (roughly Rs. 63 lakh) support level.”
Sharing their market view, CoinSwitch Markets Desk said, “Bitcoin is slightly cooling after a recent rally toward $72,000–$73,000 (roughly Rs. 66.7 lakh–Rs. 67.6 lakh), as the market pauses amid mixed sentiment. Ethereum is holding near $2,000–$2,100 (roughly Rs. 1.85 lakh–Rs. 1.95 lakh), with most altcoins moving sideways. Recent gains were driven by easing macro tensions and a short squeeze, but momentum has slowed as uncertainty returns. Retail interest remains strong, with significant accumulation seen over the past week, showing continued confidence despite volatility.”
Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “On-chain data shows steady accumulation and lower supply on exchanges. But institutional participation is still uneven […] Investors should avoid aggressive positions. Accumulate gradually near support levels. Stay alert to macro triggers and institutional flows that could define the next move.”
Overall, analysts suggest that the market continues to move within a defined range, with macroeconomic data and institutional activity acting as key determinants of short-term direction. Bitcoin’s ability to reclaim and sustain levels above $73,000 (roughly Rs. 67.6 lakh) or hold support near $69,000 (roughly Rs. 63.9 lakh) will be crucial in shaping the next phase of price action.
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.
