Bitcoin traded near $70,100 (roughly Rs. 64.6 lakh) on Tuesday as the cryptocurrency market attempted a recovery following volatility earlier in the week. Analysts said the move is being interpreted as a tentative rebound within an ongoing consolidation phase. Ethereum (ETH) was trading near $2,000 (roughly Rs. 1.8 lakh), reflecting mixed sentiment across the broader digital asset market. Bitcoin is currently priced around Rs. 62.7 lakh in India, while Ethereum trades near Rs. 1.8 lakh, as per today’s Gadgets 360 price tracker.
Bitcoin is currently trading in a narrow band as traders assess key support and resistance levels. Analysts noted that the immediate support zone lies between $68,000 and $68,500 (roughly Rs. 62.65 lakh–Rs. 63.11 lakh), which coincides with the realised price range for many on-chain holders. On the upside, the $70,000–$72,000 range (roughly Rs. 64.49 lakh–Rs. 66.33 lakh) continues to act as a strong resistance corridor, repeatedly capping rallies in recent sessions.
Accumulation Trends Support Tentative Market Recovery
Altcoins broadly tracked Bitcoin’s upward move on Tuesday. Binance Coin (BNB) was priced around $644 (roughly Rs. 59,420), while Solana (SOL) traded near $86 (roughly Rs. 7,988). XRP hovered around $1.38 (roughly Rs. 127), and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.48), reflecting stable liquidity conditions across the market.
Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin traded near $69,900 (roughly Rs. 64.3 lakh) on the day and rose 4.1 percent over the past 24 hours. This is read as a tentative recovery after the volatility seen earlier in the week […] On the upside, $70,000-$72,000 (roughly Rs. 64.49 lakh–Rs. 66.33 lakh) continues to act as a stubborn resistance corridor. The zone has repeatedly capped rallies in recent sessions.
Commenting on Ethereum’s broader technical trend, analysts at ZebPay said, “On the daily chart, Ethereum is still in a downtrend. A few months ago, ETH was trading close to $4,900 (roughly Rs. 4.51 lakh), but it has fallen to around $2,000 (roughly Rs. 1.84 lakh). This means the price has dropped by more than 55–60 percent from the top […] Until the price starts making higher highs again, the overall trend should still be considered bearish.”
Highlighting Bitcoin’s relative strength, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “On-chain data supports the constructive outlook, with more than 32,000 BTC moving off exchanges, indicating ongoing accumulation. Institutional confidence also remains firm, highlighted by Strategy adding nearly 18,000 BTC to its reserves. A sustained push higher could see Bitcoin test the $74,000 barrier (roughly Rs. 68.17 lakh), adding momentum to the uptrend.”
Overall, analysts said crypto markets remain in a cautious consolidation phase as investors track macroeconomic signals and institutional flows. Bitcoin’s ability to hold above the $68,000 (roughly Rs. 62.65 lakh) support zone while attempting to break through the $70,000–$72,000 (roughly Rs. 64.49 lakh–Rs. 66.33 lakh) resistance band will remain central to near-term direction. Macro data, such as upcoming US inflation figures, could influence market volatility in the coming sessions.
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.
