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Economic Times
3 days ago
- Business
- Economic Times
Bitcoin slips below $106k amid renewed geopolitical, economic uncertainty
Bitcoin fell below the $106,000 mark on Friday, trading at $105,857 as of 12:14 PM IST after hitting an intraday low of $104,684. The correction comes amid rising macroeconomic uncertainty and renewed global tensions, dragging the broader crypto market lower. The total market capitalization declined 2.12% to $3.34 trillion, according to CoinMarketCap. ADVERTISEMENT Ethereum also came under pressure, shedding 4% to trade at $2,616. Most major altcoins followed suit. Dogecoin dropped 7.5%, Shiba Inu fell 7.3%, Avalanche declined 8%, while Cardano, Solana, and XRP slipped between 4–5%. Chainlink and Sui also posted losses, while BNB saw a relatively milder decline of 2%. 'Bitcoin is consolidating near $106,000 amid geopolitical uncertainty, as stalled US–China trade talks have revived trade war concerns,' said Edul Patel, CEO of Mudrex. He noted that weaker US economic data, including a GDP contraction in Q1 and rising jobless claims, is further weighing on sentiment. 'BTC needs to reclaim the $108,000 level for sustained momentum. Without follow-through buying, it could test the $103,700 level.' Vikram Subburaj, CEO of Giottus, attributed the sharp drop below $105,000 to 'uncertainty regarding US tariffs,' adding that Bitcoin has recovered some ground but must consolidate at higher levels to avoid structural weakness. He pointed out that institutional demand remains strong, citing Coinbase's Premium Index staying positive for 20 straight days. Open interest in crypto has surged to $75 billion, nearing record highs, with a cluster of short positions between $107,000 and $113,500 potentially setting up the market for a short dominance has risen to 63%, with a market cap of $2.1 trillion. Daily trading volume has increased 14.5% to $58.83 to the CoinSwitch Markets Desk, adding to the volatility, Bitcoin saw a $471 million outflow from ETFs this week. Still, institutional interest appears intact. Meanwhile, Delta Exchange's Riya Sehgal highlighted a record $6.22 billion inflow into the iShares Bitcoin Trust ETF in May. She noted that Bitcoin remains under short-term bearish pressure, trading below both its 50-day and 200-day moving averages. ADVERTISEMENT In a separate development, Pakistan's newly formed crypto council announced plans to build a strategic Bitcoin reserve. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
7 days ago
- Business
- Economic Times
Crypto prices today: Bitcoin trades near $110,000 as geopolitical tensions ease; Altcoins jump up to 5%
As of 12:51 PM IST, Bitcoin rose 2.1% to $1,09,993, while Ethereum gained 3.6% to $2,588. The global cryptocurrency market cap climbed 2% to $3.46 trillion. ADVERTISEMENT Bitcoin rebounded after the U.S. dialled back its 50% trade tariff threats on European imports, providing short-term relief to global markets. Analysts believe the crypto's next key resistance lies around $112,000. "Bitcoin has bounced after the US backtracked its 50% trade tariff on Europe... it must break through $112,000 to continue its strong rally," said Vikram Subburaj, CEO of Giottus. The rally follows a record high of $112,000 last week, driven by growing institutional demand and optimism around global crypto regulation. While recent volatility stemmed from macro events, overall sentiment remains bullish."Despite minor pullbacks, Bitcoin continues to benefit from reduced supply post-halving and increasing on-chain activity," said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. "Long-term holders may view dips as opportunities." Also Read: Why AI tokens are emerging as high-conviction investment theme in 2025 ADVERTISEMENT Corporate interest also added to the momentum. Asia-based consumer food giant DDC Enterprise acquired 21 BTC as part of a broader treasury strategy targeting 5,000 BTC. Meanwhile, Pakistan has announced a 2,000 megawatt energy allocation to support Bitcoin mining and AI data centres, according to CoinSwitch Markets Patel, CEO of Mudrex, noted, "The quick rebound highlights BTC's resilience, supported by an 80% drop in daily exchange inflows... Bitcoin's strong fundamentals and declining sell-side activity position it well for further upside." ADVERTISEMENT Altcoins also traded in the green. Solana rose 3.2%, Cardano gained 4.6%, Dogecoin advanced 3.6%, and Chainlink surged 4%. Avalanche led with a 5% rise, while XRP, Stellar, Shiba Inu, Sui, and Hedera posted modest gains. Also Read: JPMorgan Chase to offer clients access to Bitcoin, despite CEO Dimon's continued criticism ADVERTISEMENT Bitcoin's dominance in the crypto market rose to 63.2%, with its market cap touching $2.184 trillion. However, daily trading volume dipped 3.2% to $47.57 billion, according to CoinMarketCap. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
7 days ago
- Business
- Time of India
Crypto prices today: Bitcoin trades near $110,000 as geopolitical tensions ease; Altcoins jump up to 5%
As of 12:51 PM IST, Bitcoin rose 2.1% to $1,09,993, while Ethereum gained 3.6% to $2,588. The global cryptocurrency market cap climbed 2% to $3.46 trillion. Bitcoin rebounded after the U.S. dialled back its 50% trade tariff threats on European imports, providing short-term relief to global markets. Analysts believe the crypto's next key resistance lies around $112,000. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Clear, Compelling Writing in Seconds With This Desktop App Grammarly Install Now "Bitcoin has bounced after the US backtracked its 50% trade tariff on Europe... it must break through $112,000 to continue its strong rally," said Vikram Subburaj, CEO of Giottus. Crypto Tracker TOP COIN SETS DeFi Tracker 10.14% Buy BTC 50 :: ETH 50 3.05% Buy Smart Contract Tracker 3.03% Buy NFT & Metaverse Tracker 2.31% Buy Web3 Tracker -0.34% Buy TOP COINS (₹) Ethereum 219,489 ( 3.57% ) Buy Bitcoin 9,356,758 ( 2.23% ) Buy BNB 57,405 ( 2.04% ) Buy XRP 200 ( 2.03% ) Buy Tether 85 ( 0.0% ) Buy The rally follows a record high of $112,000 last week, driven by growing institutional demand and optimism around global crypto regulation. While recent volatility stemmed from macro events, overall sentiment remains bullish. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » "Despite minor pullbacks, Bitcoin continues to benefit from reduced supply post-halving and increasing on-chain activity," said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. "Long-term holders may view dips as opportunities." Live Events Also Read: Why AI tokens are emerging as high-conviction investment theme in 2025 Corporate interest also added to the momentum. Asia-based consumer food giant DDC Enterprise acquired 21 BTC as part of a broader treasury strategy targeting 5,000 BTC. Meanwhile, Pakistan has announced a 2,000 megawatt energy allocation to support Bitcoin mining and AI data centres, according to CoinSwitch Markets Desk. Edul Patel, CEO of Mudrex, noted, "The quick rebound highlights BTC's resilience, supported by an 80% drop in daily exchange inflows... Bitcoin's strong fundamentals and declining sell-side activity position it well for further upside." Altcoins also traded in the green. Solana rose 3.2%, Cardano gained 4.6%, Dogecoin advanced 3.6%, and Chainlink surged 4%. Avalanche led with a 5% rise, while XRP, Stellar, Shiba Inu, Sui, and Hedera posted modest gains. Also Read: JPMorgan Chase to offer clients access to Bitcoin, despite CEO Dimon's continued criticism Bitcoin's dominance in the crypto market rose to 63.2%, with its market cap touching $2.184 trillion. However, daily trading volume dipped 3.2% to $47.57 billion, according to CoinMarketCap.
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Business Standard
13-05-2025
- Business
- Business Standard
Bitcoin pulls back as traders brace for US CPI data; macro trends in focus
The bellwether cryptocurrency Bitcoin (BTC) recently touched $105,700 before retreating by 3 per cent, indicating potential profit-taking near the $106,000 resistance level, a zone where long-term holders may be looking to exit. The pullback in the flagship currency coincided with broader macroeconomic shifts, including a strengthening US dollar index and renewed optimism around the US–China trade deal, which boosted equities and encouraged profit booking in crypto. The $100K mark, analysts said, remains a critical psychological and liquidation level, with over $3.4 billion in long positions exposed to downside risk if selling pressure continues. As of 10:44 AM on Tuesday, May 13, Bitcoin was trading at $102,662.30, down 1.19 per cent on CoinMarketCap. Over the past 24 hours, it fluctuated between $100,814.40 and $105,747.45, with a trading volume of $64.27 billion. Its market capitalisation stood at $2.16 trillion, maintaining its lead as the most valuable cryptocurrency. Vikram Subburaj, CEO of Giottus Crypto Platform, sees the dip as a healthy correction. "Bitcoin has dipped, likely due to a liquidity grab of long positions in the ecosystem. It retested key levels and is now trading just below $102,000. This is a healthy retracement and could enable BTC to retest $105,000 with conviction later this week," Subburaj said. Traders eye US CPI data Today's US CPI data, Riya Sehgal, research analyst at Delta Exchange, said, will be a critical catalyst. "A softer print could reignite bullish momentum on hopes of interest rate cuts, while a higher-than-expected number might strengthen the dollar and weigh on crypto prices," Sehgal explained. That said, institutional demand continues to remain strong. In 2025 alone, corporations have acquired over 157,000 BTC, led by MicroStrategy-style accumulation strategies. Corporate buying now exceeds miner supply, contributing to a supply shortage reminiscent of deflationary conditions that could push prices higher over time. ETFs are also reinforcing Bitcoin's dominance, with $934 million in net inflows over the past month, driven by major players like BlackRock and Fidelity. "This stands in contrast to Ethereum, which has seen notable outflows—underscoring the market's preference for Bitcoin as a macro-hedge and long-term asset. The broader market reflects a maturing phase, where institutional behaviour and macroeconomic data drive momentum more than retail speculation," Sehgal added. Altcoins mixed; Ripple outperforms Altcoins reflected mixed sentiment. Ethereum (ETH), the second-largest cryptocurrency by market cap, slipped below the $2,600 mark after briefly crossing it. It was trading 1.90 per cent lower at $2,453.30, within a 24-hour range of $2,411.59 to $2,620.90. Ripple (XRP) defied the broader trend, rising 4 per cent and leading altcoin gains. Meanwhile, Cardano (ADA) declined by 3 per cent, Solana (SOL) was down 2.8 per cent, and Binance Coin (BNB) dropped 1 per cent. Analysts believe that once Bitcoin stabilises or rebounds, select altcoins could outperform in the short term.
Economic Times
12-05-2025
- Business
- Economic Times
Crypto prices today: Bitcoin tops $105K on US-China trade optimism; Altcoins mixed
Bitcoin surged above $105,000 on Monday, driven by growing optimism around U.S.-China trade talks and increasing interest in the broader cryptocurrency market. ADVERTISEMENT As of midday trading (IST), the world's leading cryptocurrency was hovering around $103,914 after touching an intraday high of $105,039. Global financial markets also reacted positively to reports that the U.S. may reduce tariffs on Chinese imports. Although no deal has been finalised, hopes of a rollback to earlier levels are raising expectations that a global recession might be avoided. 'The market is still bullish, especially with a possible U.S.-China trade deal on the way,' said Vikram Subburaj, CEO of Giottus Crypto Platform. 'If Bitcoin stays above $105,000, it could hit new highs soon.'Bitcoin's market capitalisation rose to $2.067 trillion, with daily trading volume increasing 4% to $46.32 billion. The overall cryptocurrency market cap now stands at $3.46 trillion, though it slipped slightly by 2% in the past 24 analysts say Bitcoin is gaining strong upward momentum. Piyush Walke, Analyst at Delta Exchange, pointed out that Bitcoin recently broke out of a bullish chart pattern. 'If the breakout holds, Bitcoin could rise to $115,600,' he said, while noting that resistance could emerge near the $107,000 level. ADVERTISEMENT Also Read: Crypto market regains bullish momentum amid economic shifts and institutional inflows Sathvik Vishwanath, CEO of Unocoin, added a note of caution. 'Technical indicators show overbought conditions, which could lead to a short-term pullback. Key support lies at $100,000, and resistance is at $106,265.' ADVERTISEMENT Meanwhile, altcoins showed mixed results. Ethereum fell slightly but stayed strong above $2,500. Dogecoin, Cardano, Sui, Chainlink, and Shiba Inu gained up to 3%. Pi coin jumped over 40%, becoming the top performer of the day. Also Read: 5 timeless Warren Buffett quotes every investor should know ADVERTISEMENT Market sentiment remains optimistic. According to CoinDCX, the Crypto Fear & Greed Index climbed to 73, indicating increased investor confidence. More than 110,000 Bitcoin were withdrawn from exchanges in the past month — a bullish signal, often interpreted as investors preparing to hold rather than sell. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
