Bitcoin is trading above the $63,000 mark on Friday despite ETF outflows and markets are now focused on Friday’s $1.4 billion options expiry. The cryptocurrency was trading at the $63,932 mark.
In the past 24 hours, Bitcoin was up 2.39% and Ethereum was up 1.65% to trade at $1,771 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, and Dogecoin gained up to 1.88%, whereas Cardano fell 0.16%.
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Akshat Siddhant, Lead quant analyst, Mudrex said Bitcoin is holding above the $63,000 level after climbing back overnight as oil prices eased and President Trump signaled Iran wants a deal. However, the recovery remains fragile.
Spot Bitcoin ETFs also recorded $84 million in net outflows on Wednesday, ending a three-day inflow streak worth $509 million. Markets are now focused on Friday’s $1.4 billion options expiry, which could drive near-term volatility, Siddhant further said.
The global crypto market capitalisation went up 2.02% to $2.19 trillion, according to CoinMarketCap. BTC steadied today, holding just above $63K and clawing back after Wednesday's dip. The rebound came as fears over Iran cooled off fast, oil prices slid back toward $70 and markets shook off the geopolitical jitters, bringing buyers back into crypto, said CoinSwitch Markets Desk.
Riya Sehgal, Research Analyst, Delta Exchange said recent moves across financial markets show that risk sentiment has improved, but the recovery is still fragile. Oil has eased from its recent spike, which reduced immediate inflation worries and helped U.S. equities stabilize.
In the past week, Bitcoin and Ethereum were up 4.03% and 3.93% respectively. Among the major altcoins, BNB, XRP, Tron, Hyperliquid, and Dogecoin gained up to 4.56%, whereas Solana and Dogecoin fell 2.01% and 0.77% respectively.
Nischal Shetty, founder, WazirX said Bitcoin is trading near $63,942, up 1.24%, with technical indicators showing a mild positive outlook. Momentum indicators continue to improve, while mixed moving averages suggest the market is consolidating before a clearer trend emerges.
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Market perspective
Vikram Subburaj, CEO, Giottus: The rebound from the recent $58,300 low is encouraging. However, the market is still in a recovery phase. It has not yet confirmed a bullish reversal. Bitcoin’s recovery remains constructive above $60,000, but investors should avoid chasing short-term rallies until BTC clears $67,000 with stronger ETF demand. Disciplined position sizing and strict risk management remain essential.
( 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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