Bitcoin remains resilient at $63,600 amid steady ETF inflows and institutional buying

Synopsis

In the past 24 hours, Bitcoin was up 1.30% whereas Ethereum was up 1.67% to trade at $1,723 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained upto 4.85%.

Bitcoin has remained resilient at near the $63,600 mark amid the steady ETF inflows and institutional buying support. The cryptocurrency was trading at $63,579 mark.

In the past 24 hours, Bitcoin was up 1.30% whereas Ethereum was up 1.67% to trade at $1,723 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained upto 4.85%.

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WazirX market’s desk said this week, the crypto market saw a mix of positive signals and some caution from the macro side. The good news: easing geopolitical tensions and lower oil prices helped reduce inflation worries, improved overall market sentiment and supported a recovery in risk assets, including crypto.

Bitcoin remained strong at the beginning of the week. Institutional confidence also stayed high, with continued ETF inflows and Strategy adding another 1,587 BTC to its holdings. This shows that large investors continue to accumulate during uncertain periods rather than stepping away from the market, WazirX market’s desk further said.

The global crypto market capitalisation went up 1.28% to $2.19 trillion, according to CoinMarketCap.

Piyush Walke, Derivatives Research Analyst, Delta Exchange said on Friday, Bitcoin traded within a narrow range of $62,300 to $63,300 as markets assessed the first significant test of the U.S.–Iran peace memorandum. Despite the geopolitical backdrop, price action across the cryptocurrency market suggests that traders are currently more focused on liquidity conditions than on macroeconomic or political developments.

Walke further said from a technical perspective, Bitcoin continues to face resistance at its 20-day moving average, currently situated near $64,000.

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In the past week, Bitcoin was down 0.14% and Ethereum was up 3.20%. Among the major altcoins, XRP, Solana, Tron, Hyperliquid, gained upto 19.37% whereas BNB, Dogecoin and Cardano fell upto 5.72%.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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