Bitcoin steady at $111K as crypto market remains cautious

Synopsis

Bitcoin trades range-bound near $112,000 as futures expiry and macroeconomic data create cautious sentiment. Ethereum, BNB, and altcoins show mixed performance, while BTC support levels reinforce bullish momentum for selective traders.

Bitcoin dropped 1% to $111,669 in a range-bound trade on Thursday. Meanwhile, Ethereum was trading at $4,021. According to experts, the crypto market is steady yet cautious as traders weigh whether it can reclaim the $115,000 zone.

“Futures expiry worth $22.6 billion is adding pressure, while sentiment remains divided after BTC dipped below $112,000 this week. Ethereum is battling for the $4,100 support as institutional demand contrasts with weaker retail flows,” said Avinash Shekhar, Co-Founder & CEO, Pi42.

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Crypto TrackerTOP COINS (₹) XRP253 (-0.29%)Bitcoin9,894,655 (-0.99%)BNB87,822 (-2.62%)Solana18,077 (-3.31%)Ethereum354,599 (-4.42%)He further added that BNB has pulled back slightly after strong gains, while Dogecoin remains under watch as whales reportedly scooped up 2 billion DOGE. Meanwhile, XRP and Solana are gaining traction amid renewed ETF speculation. “Bitcoin’s path looks unclear in the short term, rotation into altcoins suggests traders are selectively positioning ahead of a potentially volatile close to the month,” he said.

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View Details »BNB was trading at $995, whereas Dogecoin was at $0.2340, both witnessing a fall of nearly 1% in the last 24 hours.

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According to another analyst, BTC’s resilience at current support levels is reinforcing bullish sentiment.

At 10:54 AM IST, Bitcoin was trading at $111,977 on Thursday. BTC declined marginally by 0.38% over the past 24 hours and was down nearly 4.62% over the past week. Ethereum, meanwhile, was at $4,033, falling 2.93% in the past 24 hours and down 12.28% over the last seven days.

According to data, the crypto sector’s overall market capitalisation stood at around $3.83 trillion on Thursday.

“The market appears to be treating this zone as a strong base, with buyers stepping in to absorb supply. As long as this support holds, momentum favors continuation of the rally, with dips likely to be shallow and the path of least resistance skewed to the upside,” said Parth Srivastava, Head of Quant, 9Point Capital’s Research Team.

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Market Perspective by Edul Patel, CEO of Mudrex
Bitcoin continues to trade range-bound ahead of key macroeconomic data, including the US GDP data and weekly jobless claims. Positive GDP numbers could fuel a risk-on sentiment among traders, pushing BTC above the resistance of $115,500.

On the other hand, Ethereum shows signs of trend reversal as ETH’s supply on exchanges falls to 9-year lows. In just the past month, investors accumulated more than 2.7 million ETH, showing strong conviction in the asset. Currently trading above the $4,000 level, a sustained move above $4,200 could trigger fresh upward momentum in ETH.
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