In the past 24 hours, Bitcoin and Ethereum slipped 0.15% and 1.04%, respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, and Cardano gained upto 3.08%, whereas Hyperliquid went down 3.90%.
Also Read | Gold ETFs deliver up to 61% return since last Akshaya Tritiya. Should you hold or book profits after the rally?WazirX Market’s Desk said technical indicators point to a strong long-term trend, supported by positive moving averages and on the institutional side, BlackRock’s Bitcoin ETF saw inflows of over $817 million, underscoring sustained demand from large investors and growing confidence in BitcoinThe global crypto market capitalisation went up 0.05% to $2.54 trillion, according to CoinMarketCap.
CoinDCX Research Team said Bitcoin funding rates have dropped to historically low levels, often seen at market bottoms with heavy short positioning, raising the risk of a potential short squeeze. Besides, the altcoin market added $10 billion today and hit a high of $190 billion for the first time in 2 months.
In the past week, Ethereum and Bitcoin were up 6.71% and 4.33% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Hyperliquid and Cardano gained upto 8.60%.BTC has moved back above $75K, supported by evolving narratives. There’s growing belief that BTC could develop into a neutral, borderless form of money, especially as pressure builds on traditional dollar-led systems, said CoinSwitch Markets Desk.
Reports of Iran exploring BTC for payments, while still early, hint at emerging real-world use, CoinSwitch Markets Desk further said.
Here is what other analyst say
Vikram Subburaj, CEO, Giottus
Bitcoin traded close to $74,700-$75,000 on April 17, holding near the upper end of its recent range. The move reflects a steady but cautious market tone, where prices are supported by structural demand but capped by macro uncertainty. The broader setup still resembles consolidation rather than a decisive breakout.
On-chain indicators continue to reflect tight supply conditions. Exchange balances remain relatively low, while long-term holder supply stays elevated. A significant portion of Bitcoin has not moved in over a year, which suggests continued conviction among holders.
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Riya Sehgal, Research Analyst, Delta Exchange
On the macro front, easing recessionary pressures, softer economic data, and intermittent inflows into spot ETFs are supporting risk assets, including crypto. However, the lack of consistent spot demand still acts as a constraint on breakout momentum.
Raj Karkara, COO, ZebPay
Bitcoin’s return to the $75,000 zone underscores the resilience of the market and reflects the continued evolution of the asset class. While near-term resistance and phases of profit-booking are natural at these levels, the strength of institutional participation and sustained long-term conviction continue to build a strong foundation for future growth.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
