Bitcoin at $77K after touching $79K on record nine-day inflows of $2.12 billion. Here is what experts say
Synopsis
Bitcoin is trading near the $77,000 to $79,000 mark. Nine consecutive days of strong inflows totaling over $2.1 billion show renewed institutional confidence. Easing geopolitical tensions also boost investor sentiment. Analysts suggest this could be Bitcoin’s best April since 2020 if momentum continues. A move above $80,000 is seen as a key confirmation for further gains.
Bitcoin traded at the $77,000 mark on Monday after touching $79,000 mark on record nine day inflows of $2.12 billion. The cryptocurrency was trading at $77,883 mark.
In the past 24 hours, Bitcoin was down 0.4% and Ethereum was up 0.02% to trade at $2,333 mark. Among the major altcoins, XRP, BNB, Solana, Dogecoin, and Cardano witnessed a decline of less than 1% whereas Tron and Hyperliquid were up 0.05% and 2% respectively.
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The market has recorded a nine-day inflow streak totaling $2.12 billion, showing renewed institutional conviction. Meanwhile, easing geopolitical tensions, along with an extension of the ceasefire, have added to the optimism among investors, said Akshat Siddhant, Lead quant analyst, Mudrex.
Crypto TrackerTOP COINS (₹) Tether94 (0.19%)Ethereum218,908 (-0.1%)Bitcoin7,327,185 (-0.11%)BNB59,246 (-0.36%)XRP134 (-0.41%)
Siddhant further said that if the momentum continues, this month could become Bitcoin’s best April since 2020, the immediate catalyst for a directional move will be the Fed’s remarks after the FOMC meeting and a dovish commentary could help break the psychological barrier at the $80,000 mark.
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The global crypto market capitalisation went up 2% to $2.64 trillion, according to .
The BTC price is at an important liquidity cluster at $79,000, a move through this level could trigger short squeeze, opening the path toward $80,000 for the first time since January, said CoinDCX Research Team.
In the past week, Bitcoin and Ethereum were up 5% and 2.5% respectively. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Hyperliquid, and Cardano gained up to 5% whereas Tron slipped 2.5%.
Vikram Subburaj, CEO, Giottus said in the immediate trading band, support sits near $77,300-$78,000 and the first resistance zone is $79,400-$80,000 and a decisive move above $80,000 is needed to confirm that this is more than a relief rally.
The rally has a stronger institutional base than earlier April moves, Subburaj further said.
Market perspective
Riya Sehgal, Research Analyst, Delta Exchange
Crypto markets are showing a measured recovery rather than outright euphoria. Bitcoin is consolidating near the $78,000 mark after a strong rebound, forming a continuation structure just below key resistance around $80,000, while Ethereum holds above $2,300 but continues to lag in relative strength.
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WazirX market’s desk
Over the last 24 hours, Bitcoin has been trading at $79,102 and is in a healthy uptrend, currently cooling off ahead of its next move. As long as the price holds above key moving averages, dips are likely to be bought, and the broader structure remains constructive.
CoinSwitch Markets Desk
An early push higher lost strength, and prices later pulled back from near the highs, showing buyers are active but not strong enough yet to break resistance around $78.5K. On the other side, Bitcoin ETFs have seen steady inflows for nine straight days, adding over $2.1B, which reflects continued institutional interest.
(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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