Bitcoin traded near $62,850 (roughly Rs. 60.1 lakh) on Monday, as the cryptocurrency market attempted to stabilise following a sharp correction driven by ETF outflows and weaker institutional demand. The world’s largest cryptocurrency has witnessed a decline of 13.95 percent in the last 24 hours, based on today’s market data. Ethereum (ETH) was trading near $1,660 (roughly Rs. 1.59 lakh), reflecting a selective recovery across the broader crypto market. Bitcoin is currently priced around Rs. 59.7 lakh in India, while Ethereum trades near Rs. 1.57 lakh, as per today’s Gadgets 360 price tracker.
Bitcoin recovered toward the $63,000 (roughly Rs. 60.2 lakh) level after rebounding from recent lows as buyers emerged at lower prices. Analysts noted that continued ETF outflows, softer institutional participation, and uncertainty surrounding upcoming US inflation data and Federal Reserve policy decisions are still limiting stronger bullish momentum despite the latest recovery attempt.
ETF Flows, Inflation Data Remain Key Market Drivers
Major altcoins traded mixed on Monday as investors remained cautious about broader market direction. Binance Coin (BNB) was priced around $595.13 (roughly Rs. 56,900), while Solana (SOL) traded near $65.43 (roughly Rs. 6,260). XRP hovered around $1.13 (roughly Rs. 108), and Dogecoin (DOGE) traded near $0.085 (roughly Rs. 8.1), indicating that risk appetite remains subdued across large-cap digital assets.
Explaining the latest market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “The robust labour market reinforced expectations that the Federal Reserve may keep monetary policy restrictive for longer, leading to weakness across risk assets. However, the sell-off pushed Bitcoin’s daily RSI to around 15.5, its most oversold level since the March 2020 market crash. Historically, similar RSI readings in 2020 and February 2026 were followed by rebounds of roughly 50 percent and 30 percent, respectively. If the same trend continues, Bitcoin could target the $80,000 (roughly Rs. 76.5 lakh) zone in the coming weeks.”
Providing a broader assessment of market conditions, Vikram Subburaj, CEO, Giottus.com, said, “The recent correction has coincided with continued outflows from US spot Bitcoin ETFs, reflecting weaker institutional participation. Market participants are awaiting key US inflation data […] Investors should avoid making decisions based solely on short-term price movements. ETF flows, inflation data, and Bitcoin’s ability to stay above the $61,000-$62,000 (roughly Rs. 58.3 lakh–Rs. 59.3 lakh) support zone will remain key indicators. Together, they may help determine the market’s next direction.”
Commenting on current sentiment, the CoinSwitch Markets Desk said, “Over $3 billion (roughly Rs. 28,683 crore) has exited US spot Bitcoin ETFs in recent weeks, while investors have increasingly rotated capital into AI-related stocks and upcoming tech IPOs. Ethereum remains under pressure below $2,000 (roughly Rs. 1.91 lakh), and most major altcoins are struggling to attract fresh buying interest. Despite the price decline, on-chain data suggests long-term holders are not panic-selling, which is a positive sign for market stability.”
Overall, analysts said the crypto market is attempting to stabilise after recent selling pressure, but ETF outflows, softer institutional demand, and uncertainty around upcoming US inflation data continue to keep investors cautious. Bitcoin’s ability to hold above the $60,000-$62,000 (roughly Rs. 57.4 lakh–Rs. 59.3 lakh) support range and reclaim the $65,000-$66,000 (roughly Rs. 62.1 lakh–Rs. 63.1 lakh) zone will remain key to improving near-term market sentiment.
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