Bitcoin climbs to $73K after rangebound move, softer CPI data supports upside
Synopsis
Bitcoin surged past $73,000, buoyed by encouraging inflation data that eased liquidity concerns. Ethereum also showed strength, attracting investor interest amid improving on-chain activity and supply tightening. Despite some large holder sell-offs, strong institutional buying and short liquidations helped maintain Bitcoin’s healthy trading range, signaling a constructive market recovery.
Bitcoin is trading near the $73,000 mark after consolidating in the $70,000–$72,000 range and the recent upside is supported by softer CPI data. The cryptocurrency was trading at $72,757 mark.
In the past 24 hours, Bitcoin was up 0.90%, whereas Ethereum was up 1.72% to trade at $2,234 mark. Among the major altcoins, XRP, BNB, Solana, Dogecoin, and Hyperliquid gained upto 3.38%, whereas Tron and Cardano were down less than 1%.
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Riya Sehgal, Research Analyst, Delta Exchange, said the recent upside is supported by softer-than-expected core CPI data, which has eased immediate pressure on liquidity conditions. Ethereum is holding near $2,250, continuing to show relative strength as broader market sentiment stabilizes.
Crypto TrackerTOP COINS (₹) Ethereum208,865 (2.74%)Bitcoin6,784,285 (2.07%)BNB56,472 (1.36%)XRP125 (1.14%)Tether93 (0.59%)
While Bitcoin remains the primary institutional anchor, Ethereum is beginning to attract incremental flows, supported by improving on-chain activity and signs of supply tightening on exchanges—indicative of early accumulation, Sehgal further said.
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Overall, the market appears to be transitioning into a constructive recovery environment, with improving sentiment but still dependent on macro confirmation, she further mentioned.
The global crypto market capitalisation went up 0.84% to $2.46 trillion, according to .
In the past week, Bitcoin and Ethereum were up 8.57% and 8.64%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid and Cardano gained upto 17.19%.
WazirX Market’s Desk said Bitcoin had a slightly volatile but stable week, trading between roughly $68,500 and $72,000. Despite brief rallies near $71.9K, prices pulled back as large holders (whales) sold around $271 million worth of BTC—the biggest weekly sell since January.
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However, strong buying interest and continued institutional accumulation (with firms purchasing far more BTC than is being mined) helped absorb the selling pressure, keeping Bitcoin within a healthy range. Liquidations of about $255 million, mostly from short positions, also supported upward moves during rebounds, WazirX Market’s Desk further said.
(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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