Cryptocurrency prices remained steady on Monday, with strong investor accumulation offsetting resistance pressures for both Bitcoin and Ethereum. Bitcoin is trading at $111,000 (roughly Rs. 98 lakh), and Ethereum is at $4,303 (roughly Rs. 3.8 lakh), as per the data provided by CoinMarketCap. Whales are aggressively adding, and exchange balances are falling to multi-year lows, which is why investors are positioning for the next breakout. On Indian exchanges, Bitcoin is trading at Rs. 98 lakh, while Ethereum hovers at Rs. 3.8 lakh
Traders Weighing in Fed Cues result in Altcoins Showing Mixed Signals
At the time of writing, Solana (SOL) is trading at $207.87 (roughly Rs. 18,200), Dogecoin (DOGE) at $0.23 (roughly Rs. 20), XRP at $2.89 (roughly Rs. 250), and Cardano (ADA) at $0.84 (roughly Rs. 73). Binance Coin (BNB) holds at $846 (roughly Rs. 74,400). Dogecoin has selective gains, while XRP and Solana experienced movements backed by adoption stories and speculative ETF flows. Overall, Altcoins are showing uneven momentum.
Edul Patel, CEO of Mudrex, highlighted that strong accumulation indicates strong investor confidence. He further added, “A positive macro number, such as softer inflation data, could trigger the next leg of the rally. If the buyers defend $110,000 (roughly Rs. 97 lakh) successfully, a move towards $116,000 (roughly Rs. 1.02 crores) is likely, gaining back bullish momentum.”
Avinash Shekhar, Co-Founder and CEO of Pi42, noted Bitcoin’s illiquid supply hits $14.3 million (roughly Rs. 125.8 crore), showing long-term trust to hold. “Dogecoin is leading an altcoin surge, with Solana, XRP, and Tron also riding renewed momentum. Momentum in Solana and XRP is further backed by growing adoption stories like remittances, while $6 billion (roughly Rs. 52,800 crores) in XRP flows and ETF speculation fuel active trading interest. Fed rate cut hopes remain a supportive macro tailwind, but it is the combination of resilient accumulation and altcoin leadership that is shaping near-term optimism,” he explained.
Meanwhile, the CoinSwitch Markets Desk highlighted the Fed cuts, and further added that “the US jobs report, showing just 22,000 additions in August versus 75,000 expected, strengthened bets on deeper Fed cuts. Yet Bitcoin remained capped below $112,000 (Rs. 98.5 lakh), failing to rally on the prospect of easier policy as many had anticipated. ETH followed a similar path, spiking above $4,450 (roughly Rs. 3.9 lakh) before a sharp rejection pulled it under $4,300 (roughly Rs. 3.7 lakh). A steady rebound has since carried it back near $4,300 (roughly Rs. 3.7 lakh), where it now consolidates in a tight range.”
The CoinDCX team noted, “The Bitcoin price rose briefly before the weekly close, but it failed to break through the pivotal resistance. Meanwhile, the weakness of the bears is also failing to drag the token lower, and as a result, it continues to consolidate around $111,000 (roughly Rs. 97.6 lakh). On the other hand, the other cryptos within the top 10 accumulate within a narrow range, while displaying the possibility of a revival of a strong upswing in a short while.”
For now, traders are watching whether Bitcoin can climb back to $113,000 (roughly Rs. 99 lakh) to confirm a breakout or risk slipping towards $107,000 (roughly Rs. 89 lakh). Market sentiment would definitely get a boost if Ethereum manages to reclaim $4,600 (roughly Rs. 4 lakh).
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