Bitcoin climbed over the $63,000 mark on Tuesday as buying interest returned, while key on-chain metric signalled market stabilisation. The cryptocurrency was trading at $63,163 mark.
In the past 24 hours, Bitcoin slipped marginally by 0.2% and Ethereum was down 0.5% to trade at $1,770 mark. Among the major altcoins, BNB, XRP, Hyperliquid, Dogecoin, and Cardano fell up to 4% whereas Solana and Tron were up 0.1% and 0.4%.
Also Read | NFO Insight: Can AlphaGrep's algorithm-driven multi-asset fund deliver better risk-adjusted returns?
Nischal Shetty, founder, WazirX said market data also shows Bitcoin’s realized profit-to-loss ratio has fallen to a 43-month low, a level historically associated with periods of market stabilization.
Ethereum traded around $1,813, up 1.58%, supported by stronger network activity. The network continues to host nearly $153 billion in stablecoin supply, while sustained Ethereum withdrawals from exchanges suggest lower near-term selling pressure, Shetty said.
The global crypto market capitalisation edged down 0.3% to $2.18 trillion, according to CoinMarketCap. Bitcoin ETFs witnessed 8 straight weeks of outflows, not seeing a single week of net inflows since early May, said CoinDCX Research Team.
Ethereum and Bitcoin were up 12% and 6% respectively in the past week. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano rallied up to 25%.
Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin has moved back near $63,000, but the technical setup needs confirmation. A 4-hour close above $64,000–$64,300 would improve the structure, while a break below $62,000 can bring $61,000 back into focus.
What other analysts say
Vikram Subburaj, CEO, Giottus
The rebound has improved short-term sentiment, but it is still too early to call it a decisive trend reversal. Bitcoin’s recovery above $63,000 is constructive, but the market is not yet out of the woods. The next confirmation will come only if Bitcoin sustains a move above the $65,000-$67,000 resistance zone, supported by stronger ETF inflows and softer macro signals.
CoinSwitch Markets Desk
Bitcoin rebounded to $64K from $61.3K, with the market shrugging off Strategy's sale and quickly regaining ground. The 9% funding rate points to balanced, healthy positioning rather than overheated leverage.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
