Bitcoin traded near $80,900 (roughly Rs. 77.2 lakh) on Tuesday, as the cryptocurrency market remained firm amid improving investor sentiment and sustained institutional demand. The world’s largest cryptocurrency rose by 1.25 percent in the last 24 hours, based on today’s CoinMarketCap data. Ethereum (ETH) was trading near $2,300 (roughly Rs. 2.26 lakh), reflecting stable movement across the broader crypto market. Bitcoin is currently priced around Rs. 77 lakh in India, while Ethereum trades near Rs. 2.26 lakh, as per today’s Gadgets 360 price tracker.
Analysts noted that renewed risk-taking across global markets and consistent institutional accumulation have helped BTC reclaim key support levels, though macroeconomic triggers and resistance zones remain important for near-term direction.
Mirroring Bitcoin’s cautious upward movement, across the broader market, altcoins traded mixed on Tuesday. Binance Coin (BNB) was priced around $627.60 (roughly Rs. 59,860), while Solana (SOL) traded near $84.82 (roughly Rs. 8,090). XRP hovered around $1.40 (roughly Rs. 133), and Dogecoin (DOGE) was trading close to $0.111 (roughly Rs. 10.5), indicating selective participation across the market.
ETF Flows and Macro Developments Shape Market Momentum
Explaining the latest market setup, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Bitcoin is trading near the $80,000 (roughly Rs. 76.3 lakh) level as easing tensions in the Middle East bring back risk-taking across markets. The move is supported by about $270 million (roughly Rs. 2,575 crore) in short liquidations and a drop in oil-driven inflation concerns, helping BTC reclaim its bull market support band after three months.”
Offering a broader view of current market structure, Vikram Subburaj, CEO of Giottus.com, said, “ETF inflows and macro positioning drive the current price behaviour. US spot Bitcoin ETFs saw inflows of $629.8 million (roughly Rs. 6,008 crore) on May 1 and $196.8 million (roughly Rs. 1,877 crore) on May 4. This has stabilised prices after $490.5 million (roughly Rs. 4,678 crore) of outflows […] Investors should avoid chasing near $81,000 (roughly Rs. 77.2 lakh) resistance and instead look at staggered entries closer to $75,000 (roughly Rs. 71.5 lakh) support, as flows and macro data will likely decide the next 3-5 percent move in either direction.”
Adding further context to current market sentiment, the CoinSwitch Markets Desk said, “Rising oil prices, with WTI above $105 (roughly Rs. 10,015) and Brent near $119 (roughly Rs. 11,350), are shaping sentiment and keeping investors cautious […] In the near term, price moves are likely to stay sensitive to geopolitical developments, with quick swings in either direction.”
Overall, analysts said the crypto market remains supported by institutional inflows and improving sentiment, though macroeconomic developments and geopolitical tensions continue to influence volatility. Bitcoin’s ability to sustain above the $80,000 (roughly Rs. 76.3 lakh) level and attempt a move toward the $84,000 (roughly Rs. 80.1 lakh) resistance zone will remain crucial for the upcoming price direction.
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