Bitcoin hovers near $68K, Ethereum around $2K as oil price surge and as ETF outflows pressure crypto
Synopsis
Cryptocurrencies are facing pressure. Bitcoin and Ethereum prices are hovering near key levels. ETF outflows and a surge in oil prices are weighing on the market. Major altcoins show mixed performance. The global crypto market capitalization has seen a slight increase. Investors are recalibrating positions amid macro uncertainty and volatile capital flows.
Bitcoin hovered near $67,000 as the ETF outflows and surge in oil prices weighed heavily on the crypto market. Ethereum traded near $2,000. The cryptocurrencies were trading at $67,995 and $2,008 respectively.
In the past 24 hours, Bitcoin and Ethereum went up 1% and 3% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Cardano, and Hyperliquid gained over 2%. The global crypto market capitalisation went up 0.58% to $2.31 trillion, according to .
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Crypto TrackerTOP COINS (₹) Ethereum184,311 (3.1%)BNB57,795 (1.74%)Bitcoin6,224,361 (0.96%)XRP125 (0.48%)Tether92 (0.34%)The cryptocurrency market is facing renewed pressure, energy markets are also adding to the pressure as the oil prices have started the week nearly 20% higher, driven by the ongoing conflict involving Iran. The surge in oil prices has weighed heavily on both cryptocurrencies and equities, said Piyush Walke, Derivatives Research Analyst, Delta Exchange.
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View Details »On the institutional side, U.S. spot Bitcoin ETFs recorded $568.45 million in inflows over the past two weeks, following a previous $787.31 million gain. However, daily flows have been volatile, with notable outflows toward the end of the week, Piyush further said.
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In the past week, Bitcoin and Ethereum went up 1.77% and 1.99% respectively. Among the major altcoins, BNB, Hyperliquid and Tron were up 0.84% and 2.79% respectively whereas XRP, Solana, Dogecoin, Cardano fell over 6%.
Nischal Shetty, Founder, WazirX said the global crypto market cap stands at $2.31 trillion with a 0.54% increase over the last 24 hours. Bitcoin and other altcoins followed the equities way, dropping over the weekend before gaining a modest 1.98% in the last 24 hours to stand at $67k, an 8% drop in Nikkei is a reflection of the equities market sentiment which is also spilling over to crypto as crude oil prices go up by 66% amidst ongoing geopolitical conflicts.
Market perspective
Vikram Subburaj, CEO, Giottus
Traders continued to recalibrate positions amid macro uncertainty and uneven capital flows into digital assets. Technically, the market structure currently reflects a pause rather than a decisive trend reversal.
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Akshat Siddhant, Lead quant analyst, Mudrex
Bitcoin is trading near $66,000 after profit-taking by short-term holders intensified selling pressure near the $74,000 level. Over 27,000 BTC in realized profits moved to exchanges by STHs while bulls struggled to absorb the selling pressure. The outflows from Bitcoin ETFs in the last 2 days further contributed to the weakness. However, the weekly ETF flows are still positive at $568 million, marking a second straight week of net inflows since early October.
CoinSwitch Markets Desk
Bitcoin is trading around $68,000, slipping slightly after failing to hold above the $70K level, as broader market sentiment turns cautious. Ethereum is also under pressure, trading near $1,950, with most major altcoins showing small declines. The recent drop comes as global markets turn risk-off amid geopolitical tensions and rising oil prices, which have pushed investors away from risk assets like crypto and stocks.
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