Bitcoin holds near $84,000, Ethereum moves towards $2,700 as buyers remain active

Bitcoin trades around the $84,000 mark whereas Ethereum moves towards the $2,700 mark as buyers remained active even as global funding conditions stayed restrictive. The cryptocurrency was trading at $84,580 mark and Ethereum was at $2,680 mark.

In the past 24 hours, Bitcoin and Ethereum were down 1.6% and 1.5% respectively. Among the major altcoins, BNB, Dogecoin, Solana, Hyperliquid, Dogecoin and Cardano corrected upto 3.1% whereas Tron was up 0.3%.

The global crypto market capitalisation was down 1.6% to $2.97 trillion, according to the data on Coingecko.

Crypto TrackerTOP COINS (₹) Tether96 (0.05%)BNB73,562 (-1.31%)Bitcoin8,129,395 (-1.58%)Ethereum257,762 (-1.84%)XRP142 (-3.14%)Also Read |Explained: Want to know how long your investment will take to double? Use Rule of 72

Nischal Shetty, Founder, WazirX said The crypto market remained steady this week, despite changes in interest-rate expectations, Treasury yields, commodities, and global equities.

“Bitcoin moved between approximately $83,000 and $83,800 before settling near $83,461. Its daily structure remained constructive, although momentum cooled as the asset repeatedly approached resistance. Ethereum strengthened from about $2,658 to $2,689 and stayed near the psychological $2,700 level. Support moved higher to 2,670-2,680, while 2,695-2,710 formed the immediate resistance zone.”

Shetty further said that crypto ETFs recorded approximately $1.9 billion in overall net inflows, with positive flows outweighing an outflow of around $200 million on September 30. The weekly total indicates that institutional interest remained strong despite the late reversal.

Over the last week, Bitcoin was up 0.8% whereas Ethereum was down 0.2%. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano corrected upto 4.6%.

Riya Sehgal, Research Analyst, Delta Exchange said crypto markets saw a sharp macro-driven whipsaw after September U.S. nonfarm payrolls rose by just 29,000 versus 90,000 expected, while unemployment increased to 4.2% from 4.1%.

Technically, Bitcoin’s rejection from the 86,000-87,200 supply zone has brought the price back near $84,500. Ethereum mirrored the move, rejecting from roughly $2,775 and retreating toward $2,680.”

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Sehgal further said that with Bitcoin open interest having risen by roughly $2.3 billion and funding rates elevated, leverage remains an important source of near-term volatility alongside Treasury yields.

(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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