Bitcoin hovers near $68,700 as ETF inflows decline; caution rises
Synopsis
Bitcoin hovers near $68,700 after failing to break the $70,000 resistance, with major cryptocurrencies experiencing declines. Analysts note a cautious market sentiment, influenced by declining ETF inflows and range-bound price action. However, underlying demand appears steady, with potential for a rally above $72,000.
Bitcoin traded near the $68,700 mark on Monday after another rejection from the $70,000 zone.
Bitcoin and Ethereum fell 2% and 5%, respectively in the past 24 hours. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid plunged 11%.
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Crypto TrackerTOP COINS (₹) Tether91 (0.14%)Bitcoin6,200,427 (-2.58%)BNB55,490 (-3.7%)Ethereum177,441 (-6.26%)XRP132 (-7.91%)The short-term structure appears fragile, with declining ETF inflows since mid-January reinforcing a cautious tone, according to Riya Sehgal, Research Analyst, Delta Exchange. The broader crypto market remains range-bound, with traders closely watching these inflection levels.
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View Details »A strong recovery in Bitcoin above $70,000 could restore market confidence, but failure to hold current support might trigger another wave of risk-off sentiment across digital assets, Sehgal added.
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The global crypto market capitalisation fell 2.7% to $2.35 trillion, according to .
In the past week, Bitcoin and Ethereum slipped 3.1% and 5.6%, respectively. Among the major altcoins, BNB, Solana, and Hyperliquid fell up to 8%, whereas XRP, Tron, Dogecoin, and Cardano gained over 6%.
Nischal Shetty, Founder, WazirX, said that Bitcoin’s tight range reflects continued consolidation at elevated levels, suggesting steady demand absorption rather than weakness.
Overall, price action across leading cryptos remains range-bound but resilient. With macro conditions cautious yet stable and institutional flows continuing, the broader market structure reflects consolidation supported by steady underlying demand rather than heightened volatility or risk-off positioning, according to Shetty.
Here’s what other analysts say
CoinDCX Research Team
The on-chain data suggests that over $1.9 billion in leveraged positions have been liquidated in the past week. Bitcoin & Ethereum ETFs have not recorded a weekly net flow since mid-January.
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Vikram Subburaj, CEO, Giottus
Risk appetite stayed selective, and macro cross-currents kept traders defensive. $70K remains the first overhead ‘proving’ zone. Repeated failures there will keep the price action heavy.
Akshat Siddhant, Lead quant analyst, Mudrex
Bitcoin saw a relief rally over the weekend, briefly reaching $70,800 after softer-than-expected CPI data helped stabilise sentiment. While price action remains range-bound, underlying demand looks strong.
With Bitcoin consolidating near $68,000, a decisive move above $72,000 could trigger a short squeeze and accelerate momentum toward $80,000. On the downside, $66,500 continues to act as solid support, keeping the broader structure positive.
(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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