As of 11:07 AM IST, Bitcoin was trading at $107,647, up 1.3%, while Ethereum gained 0.9% to $2,589. The global crypto market cap rose 1% to $3.4 trillion.
According to CoinSwitch, Bitcoin’s recent surge marks its highest level since January, driven by a 10.65% jump in BTC futures open interest to $74.35 billion, with Binance contributing $12.28 billion. U.S. spot Bitcoin ETFs also recorded net inflows of $41.7 million on Tuesday, extending their positive streak to five consecutive days.
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Sathvik Vishwanath, Co-Founder and CEO of Unocoin, said, “Bitcoin is consolidating near $107,000, with strong support at $98,000 and key resistance at $109,500. If this level is breached, the next target could be $112,000.” He added that on-chain data shows steady accumulation by large holders, while positive funding rates reflect a cautious long bias.Ethereum, meanwhile, has been outperforming Bitcoin over the past month, rising nearly 60%. Riya Sehgal, Research Analyst at Delta Exchange, said ETH is currently testing the key psychological resistance at $2,500. “While structural indicators remain bullish, elevated trading volumes and recent profit-taking may lead to short-term consolidation,” she said.
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Among altcoins, BNB rose 1.4%, Solana 0.8%, Dogecoin 2.4%, Cardano 2%, while Avalanche, Stellar, and Shiba Inu gained 1% each.
Bitcoin’s market cap rose to $2.123 trillion, holding a 62.9% share of the total crypto market. However, daily trading volumes dipped 10% to $51.19 billion, suggesting some cooling in activity despite the price surge.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)