In the last 24 hours, Bitcoin and Ethereum have decreased by 0.17% and 0.43% respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid fell by up to 2.20%, while Tron bucked the trend with a gain of 1.48%.
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Nischal Shetty, founder, WazirX, said that Bitcoin is trading around $70,000, which is a positive sign that it is the current resistance level. The market saw a consensus phase between around $64,000 and $72,000.
At the moment, Bitcoin is trying to stabilize within this range while investors monitor macro developments and liquidity conditions. While the chain’s activities remain strong, retail users are trading cautiously, with experts predicting a return to normal retail activity if Bitcoin continues to climb to $75k and beyond, Shetty further said.
Over the past week, Bitcoin and Ethereum have increased by 4.62% and 6.41% respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano, Tron and Hyperliquid rose up to 22%.
Bitcoin briefly bounced above the $73K level, previously the last swing low, but failed to maintain momentum, and at the top, the price quickly recovered around 3.4%, said Piyush Wak, derivatives research analyst at Delta Exchange.
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Valk added that a similar move was seen in Ethereum, which approached $2,200 before pulling back about 4%, and a rejection near $73K suggests that Bitcoin is facing short-term resistance after its recent rally.
He also said that with US stock markets also posting modest gains of around 0.5%, while equities point to a slightly improved risk environment, the broader crypto market appears to be reassessing momentum ahead of potential future directional moves.
((rejection: The recommendations, suggestions, opinions and views given by the experts are their own. (It does not represent the views of The Economic Times.)
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