“Bitcoin is holding steady around the $92,500 level, following a 12% rally this week,” said Edul Patel, Co-founder and CEO of Mudrex. “The broader market saw over $624 million in liquidations in the last 24 hours, with $545 million from short positions, easing downward pressure and helping BTC stabilise.”
Patel added that the rally is largely driven by institutional interest. “Bitcoin spot ETFs saw net inflows of over $700 million, pushing weekly inflows past $1 billion. This has been a key catalyst,” he said.
Crypto Tracker
“Looking ahead, US jobless claims data due later today could influence short-term sentiment. Bitcoin now faces resistance at $96,300, with immediate support at $91,700,” Patel added.Looking ahead, Patel noted that US jobless claims data due later in the day could sway short-term sentiment. “BTC faces resistance at $96,300 and has immediate support at $91,700,” he added.
Sathvik Vishwanath, Co-founder & CEO of Unocoin, said Bitcoin’s current level around $92,400 is acting as a psychological floor, supported by fresh institutional inflows and shrinking exchange reserves—signs of accumulation.“A bullish golden cross has formed, indicating a mid-term upside bias. But momentum is slowing as traders eye the $95,000 resistance. A breakout could trigger a rally toward $100K,” Vishwanath said. “Until then, consolidation seems likely.”Also Read: Bitcoin surpasses Amazon in market value, now 6th largest global asset
Most major altcoins saw modest losses. XRP fell 3.7%, Solana 2.2%, Dogecoin 4.3%, and Cardano and Chainlink dropped around 2% each. BNB, Avalanche, and Stellar also declined by 2%, while Shiba Inu and Hedera were down over 3%. Sui stood out with a 5% gain.
“Altcoins were mostly in the red, but Sui rose by 45% this week, driven by a surge in meme coin trading on its network,” said Vikram Subburaj, CEO of Giottus.
Bitcoin’s market cap fell to $1.835 trillion, declining its dominance to 63.43%. Daily trading volumes fell 35% to $37.56 billion. Stablecoins contributed 93.57% of total crypto trade volume, amounting to $98.58 billion, as per CoinMarketCap. The total crypto market cap fell 1% to $2.9 trillion.
Technical view by ZebPay
ETMarkets.comBTC, after making an all-time high of $109,588, started to trade in a downtrend and corrected by almost 32%, making a low of $74,508. The asset formed a ‘Long-Legged Spinning Top’ candle near the key support of $73,500 (indicating indecision in trend), and the price bounced up to $86,000. Following this move, BTC began consolidating and traded in a range between $83,000 and $86,000. The asset eventually gave a breakout above the range with strong volumes and rallied up to $94,696. BTC faces strong resistance at $100,000 and $110,000, while $90,000 and $73,500 will act as strong support levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)