Bitcoin traded near $70,500 (roughly Rs. 65.7 lakh) on Friday as the cryptocurrency market remained steady despite ongoing macroeconomic pressures and ETF outflows. The world’s largest cryptocurrency is reflecting a marginal decline of 0.39 percent in the past 24 hours. Analysts said the price action points to consolidation as buyers continue defending lower levels. Ethereum traded near $2,100 (roughly Rs. 1.9 lakh), indicating muted sentiment across the broader market. Bitcoin is currently priced around Rs. 65 lakh in India, while Ethereum trades near Rs. 1.99 lakh, as per today’s price tracker.
According to market participants, Bitcoin is currently trading in a narrow range between $69,000 (roughly Rs. 64.32 lakh) and $73,000 (roughly Rs. 68.05 lakh) as investors weigh macroeconomic signals, ETF outflows, and geopolitical developments. Analysts noted that the $70,000 (roughly Rs. 65.25 lakh) level continues to act as a key support zone.
Crypto Price Action Hints at Ongoing Consolidation
Altcoins traded mixed on Friday. Binance Coin (BNB) was priced around $643.28 (roughly Rs. 59,972), down 0.95 percent, while Solana (SOL) traded near $89.43 (roughly Rs. 8,336), down 0.39 percent. XRP hovered around $1.45 (roughly Rs. 135), down 0.67 percent, and Dogecoin (DOGE) was trading close to $0.09 (roughly Rs. 8.84), up 0.34 percent.
Explaining the current market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is staying close to the $70,000 level even as markets face pressure from geopolitical tensions and a cautious Fed outlook. Recent ETF outflows of $219 million (roughly Rs. 204.15 crore) have added to short-term weakness, but prices have remained stable. Investors are now watching key data like CPI and further comments from the Fed for direction.”
Sharing his market assessment, Vikram Subburaj, CEO of Giottus.com, said, “Structural demand from spot ETFs and limited post-halving supply continue to support prices […] Altcoins are largely following this pattern, rather than showing independent strength […] This is a range-bound, macro-driven market. Avoid overtrading. Wait for a clear breakout above ~$72,000 (roughly Rs. 67.12 lakh)-$74,000 (roughly Rs. 69.98 lakh) or a breakdown below ~$69,000 (roughly Rs. 64.32 lakh) before taking fresh positions.”
Weighing in on broader market conditions, CoinSwitch Markets Desk said, “Funding rates remain neutral, suggesting balanced positioning and no excessive leverage, keeping the market in a consolidation phase. On the macro front, gold has declined 17 percent since geopolitical tensions began, while Bitcoin has gained 10 percent, indicating capital rotation toward BTC as a preferred hedge.”
Overall, analysts said crypto markets remain in a consolidation phase as investors track macro cues, ETF flows, and key technical levels. In the near future, Bitcoin’s ability to stay above the $70,000 (roughly Rs. 65.25 lakh) support zone and try to move toward $72,000 (roughly Rs. 67.12 lakh)–$74,000 (roughly Rs. 69.98 lakh) will be crucial.
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.
