Bitcoin traded near $69,100 (roughly Rs. 64.2 lakh) on Monday as the cryptocurrency market remained range-bound amid mixed signals from macro factors and on-chain data. The world’s largest cryptocurrency was rising 2.99 percent in the past 24 hours. Analysts said the current price action reflects a lack of strong momentum, with markets reacting to broader developments rather than crypto-specific triggers. Ethereum traded near $2,100 (roughly Rs. 1.98 lakh), indicating selective strength across the broader crypto market. Bitcoin is currently priced around Rs. 64.2 lakh in India, while Ethereum trades near Rs. 1.97 lakh, as per today’s price tracker.
Analysts noted that spot demand has weakened, with a drop in the demand-to-supply ratio, while lower spot volumes alongside rising leverage indicate a fragile setup. At the same time, continued outflows from exchanges suggest some accumulation, but the overall market remains reactive and driven by external news flow.
Weak Demand and Mixed Flows Keep Market Direction Unclear
Altcoins traded mixed on Monday. Binance Coin (BNB) was priced around $600.15 (roughly Rs. 55,808), up 1.15 percent, while Solana (SOL) traded near $81.91 (roughly Rs. 7,618), up 1.93 percent. XRP hovered around $1.33 (roughly Rs. 124), up 2.12 percent, and Dogecoin (DOGE) was trading close to $0.0926 (roughly Rs. 8.61), up 1.75 percent.
Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Institutional participation via ETFs remains inconsistent […] Avoid chasing upside near resistance. Watch $68,000 (roughly Rs. 63.23 lakh) as support and $72,000 (roughly Rs. 66.95 lakh) as breakout confirmation. Until macro clarity improves and ETF flows turn consistent, disciplined entries and staggered buying remain the more defensible approach.”
Adding to this, WazirX Markets Desk said, “Institutional demand, supported by strong March ETF inflows and a newly approved low-fee Morgan Stanley Bitcoin ETF, is providing price support […] Central banks remain constrained between managing inflation and supporting growth, adding to overall market uncertainty […] Bitcoin is modestly higher over the past 24 hours, while Ethereum is slightly outperforming, indicating some return of risk appetite.”
Overall, analysts said the market remains range-bound as conflicting signals from macro conditions, institutional flows, and on-chain data limit directional clarity. Bitcoin’s next move will likely depend on whether demand strengthens at current levels or if broader economic pressures continue to keep prices within a narrow band.
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