Bitcoin’s price hovered near the $109,900 (roughly Rs. 97.5 lakh) mark on Friday as traders reacted to comments from US Federal Reserve Chair Jerome Powell that hinted at uncertainty over future rate cuts. As investors await the upcoming US jobs data from the US Bureau of Labor Statistics (BLS) for cues on monetary policy, the broader crypto market moved lower, with overall capitalisation around $3.73 trillion (roughly Rs. 3,30,00,000 crore). Ethereum (ETH) followed a similar pattern, down 0.57 percent to $3,858 (roughly Rs. 3.4 lakh). According to the Gadgets 360 price tracker, Bitcoin is priced around Rs. 97.5 lakh, and Ethereum at Rs. 3.4 lakh.
Altcoin Prices Drop Alongside Bitcoin and Ethereum
Altcoins showed mixed performance, with several major tokens slipping as caution returned to the market. Binance Coin (BNB) traded at $1,094 (roughly Rs. 96,900), down 0.87 percent, while Solana (SOL) dropped 3.5 percent to $185 (roughly Rs. 16,400). Dogecoin (DOGE) inched lower to $0.18 (roughly Rs. 16.4), while XRP was down 1.3 percent at $2.48 (roughly Rs. 220).
The CoinSwitch Markets Desk noted that market sentiment stayed cautious as Bitcoin hovered around key support levels. “The total market capitalisation was around $3.73 trillion (roughly Rs. 3,30,00,000 crore), and major altcoins declined by 3–7 percent. Bitcoin is currently near the $108,000–$110,000 (roughly Rs. 95.5 lakh–Rs. 97.3 lakh) support range, with resistance at $115,000–$116,000 (roughly Rs. 1,01,00,000–Rs. 1,02,00,000). Overall sentiment remains cautious as traders await further macroeconomic developments.”
Riya Sehgal, Research Analyst at Delta Exchange, pointed out that traders turned defensive as macro caution and equity correlations pressured crypto, “crypto markets are back on the defensive as the sector slid 2.37 percent in the past 24 hours […] Despite a 25bps rate cut, traders are dialing back expectations for further easing, now pricing a less chance of another cut in December. […] A strong labor print could deepen the sell-off, but any signs of cooling could give crypto a relief bounce.”
Giottus CEO Vikram Subburaj observed that despite supportive cues, Bitcoin’s slide and heavy liquidations reflect a fragile risk appetite. “More than $1 billion (roughly Rs. 8,861 crore) in liquidations briefly pushed BTC under its 200-day EMA before price stabilised around $108,000–$109,000 (roughly Rs. 95.6 lakh–Rs. 96.5 lakh). Traders are now flagging $103,000–$100,000 (roughly Rs. 91.3 lakh–Rs. 88.6 lakh) as the next key liquidity zones if downside pressure persists. Our advice: This is a conflicted macro tape. Traders should trade the confirmation and not the headline.”
The broader sentiment remains cautious as markets continue to track macro developments. Analysts expect volatility to stay elevated ahead of the November 1 US jobs report, which could dictate near-term direction for both equities and crypto.
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