Bitcoin’s price slipped to $111,700 (roughly Rs. 99 lakh) on Thursday, while Ethereum fell by 4.3 percent over the past 24 hours to trade at $4,006 (roughly Rs. 3.5 lakh). Near-term market sentiment is cautious ahead of the US GDP numbers and weekly jobless claims, leaving traders on a watchful note. While BTC struggles to reclaim $115,000 (roughly Rs. 1.01 crore) level, Ethereum is showing signs of resilience, supported by reduced exchange supply. The price tracker on Gadgets 360 shows Bitcoin trading at Rs. 98.9 lakh in India, while Ethereum stands at Rs. 3.55 lakh.
Ethereum’s Reduced Supply, ETF Optimism Offer Support
On Thursday, traders set their sights on lesser-known assets, with Flare and Ether.fi posting double-digit gains, while OG and Pump.Fun saw sharp corrections. Investors also remain cautious ahead of macroeconomic updates. Binance Coin (BNB) slipped to $992 (roughly Rs. 88,000) while Solana (SOL) weakened to $203 (roughly Rs. 18,000). XRP holds at $2.85 (roughly Rs. 252), and Dogecoin (DOGE) trades at $0.233 (roughly Rs. 20).
Explaining Bitcoin’s trading pattern, Mudrex CEO Edul Patel said, “Positive GDP numbers could fuel a risk-on sentiment among traders, pushing BTC above the resistance of $115,500 (roughly Rs. 1.02 crore). On the other hand, Ethereum shows signs of trend reversal as ETH’s supply on exchanges falls to 9-year lows. […] Currently trading above the $4,000 (roughly Rs. 3.5 lakh) level, a sustained move above $4,200 (roughly Rs. 3.7 lakh) could trigger fresh upward momentum in ETH.”
Pi42 Co-Founder & CEO Avinash Shekhar highlighted broader sentiment, “The crypto market is steady yet cautious, with Bitcoin trading near $112,000 (roughly Rs. 99.3 lakh) as traders weigh whether it can reclaim the $115,000 (roughly Rs. 1.01 crore) zone. Futures expiry worth $22.6 billion (roughly Rs. 2,00,416 crore) is adding pressure, while sentiment remains divided after BTC dipped below $112,000 (roughly Rs. 99.3 lakh) this week. Ethereum is battling for the $4,100 (roughly Rs. 3.6 lakh) support as institutional demand contrasts with weaker retail flows.”
The CoinDCX research team pointed to the major consolidation and stated, “The consolidation phase continues with the prices of the top cryptos accumulating within a tight range. Bitcoin and Ethereum are stuck within a range, and as a result, the other altcoins like XRP, BNB & DOGE are trading below their respective resistance levels. […] Amidst the bearish influence, the top gainers for the day are Flare and ether.fi with over 11.5 percent rise each, followed by Aethir and Zcash by over 7.5 percent each.”
Meanwhile, the CoinSwitch Markets Desk added perspective on regulatory developments and added, “Crypto markets dipped modestly, with Bitcoin down by 0.6 percent to $112,584 (roughly Rs. 99.8 lakh) and Ethereum slipping 0.8 percent, pressured by an intense deleveraging wave and weak macro tone. […] Meanwhile, the SEC’s new streamlined ETF approval rules are fueling optimism that fresh crypto-ETFs will flood the US market, which could help support demand if sentiment stabilizes.”
Current market trends indicate that traders are on edge as Bitcoin’s short-term trajectory appears uncertain, while Ethereum’s reduced exchange supply and optimism over new ETF approvals could provide the necessary boost for the next breakout.
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