The cryptocurrency was down 0.15% in the past 24 hours and was trading at $70,765 mark. Ethereum was down 0.7% and was trading at $2,149 mark. Among the major altcoins, XRP, Solana, Dogecoin, Hyperliquid, and Cardano were down upto 2% whereas BNB and Tron were up 0.04% and 3% respectively.
Also Read | Less than half equity mutual funds offer positive returns in FY26. Were they a part of your portfolio?Bitcoin moved above $71,000 after reports of a potential de-escalation plan between the U.S. and Iran lifted short-term sentiment across risk assets and currently, traders are now closely watching Friday’s $18.6 billion options expiry, which could act as a key catalyst for the next move, said Akshat Siddhant, Lead quant analyst, Mudrex.Siddhant further said that a favourable outcome may help Bitcoin break above $75,000 and set the tone for the coming weeks.
The global crypto market capitalisation was up 0.05% to $2.42 trillion, according to CoinMarketCap.
Bitcoin relative to gold is back to its post-ETF run levels from early 2024, which usually results in newer highs in the following years, said CoinDCX Research Team.In the past week, Ethereum and Bitcoin were down 2% and 0.1% respectively. Among the major altcoins, BNB, XRP, Dogecoin, Hyperliquid and Cardano were down upto 4% whereas Solana and Tron were up 1% and 4% respectively.
CoinSwitch Markets Desk said on the supply side, the amount of BTC held on exchanges has dropped to a seven-year low of under 2.7 million, pointing to a $52B structural reduction in available supply since the 2020 peak.
At the same time, stablecoin supply has reached a record $316B, essentially capital on standby that could enter the market if conditions turn favorable, CoinSwitch Markets Desk further said.
Market perspective
Vikram Subburaj, CEO, Giottus
The immediate technical picture is therefore relatively clear. $70,000 is the first line the market is trying to defend. A failure there would reopen the path toward the high-$60,000s. Bitcoin is not yet in a clear trend-expansion phase. It is in a zone where resilience is visible, but conviction still needs confirmation.
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WazirX Markets Desk
Bitcoin is hovering near $70K, with price action currently driven by macroeconomic volatility. The geopolitical situation regarding the ongoing conflict remains uncertain, keeping investors cautious. However Bitcoin ETFs reaching $2.5 billion in inflows has drawn optimism, undoing a lot of leverage liquidation observed over the past few months.
Riya Sehgal, Research Analyst, Delta Exchange
Ethereum continues to lag Bitcoin, facing selling from large holders and resistance near $2,200. The $2,020 support remains important, but repeated rejection near resistance points to weaker momentum.
Overall, the market is in a compression phase, with volatility likely to expand once a clear trigger appears. From here, oil, dollar strength, and geopolitical clarity will remain key drivers, reinforcing crypto’s role as a global risk asset rather than a standalone market.
