Bitcoin traded near the $64,000 mark on Tuesday, as cooling inflation and falling treasury yields aided recovery in the crypto market. The cryptocurrency was trading near the $64,246 mark.
In the past 24 hours, Bitcoin was up 1.44% and Ethereum was up 0.43% to trade at $1899 mark. Among the major altcoins, Solana, Tron, Hyperliquid rallied up to 1% whereas BNB, XRP, Dogecoin, and Cardano slipped up to 1.37%.
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Avinash Shekhar, Co-Founder & CEO, Pi42 said Bitcoin’s move back towards the $64,000 mark reflects improving sentiment as expectations of further US monetary tightening ease and softer economic indicators, cooling inflation and a decline in treasury yields is creating a more supportive liquidity environment for digital assets.
The upcoming FOMC minutes, inflation data and labour-market indicators will be important in determining whether the current rebound can develop into a more sustained move, he further said.
The global crypto market capitalisation went up 0.68% to $2.19 trillion, according to CoinMarketCap. The fear and greed index had slightly raised to 50 and market sentiments have turned neutral, said CoinDCX Research Team.
Riya Sehgal, Research Analyst, Delta Exchange said that crypto markets recovered over the past 24 hours, but the move remains a rebound rather than a confirmed trend reversal; Bitcoin rose from the low-$63,000 region to around $64,500, while Ethereum moved from $1,870 toward $1,915 before both faced selling pressure.
Ahead of the FOMC minutes, crypto remains sensitive to rate expectations, Treasury yields and risk sentiment, Sehgal further said.
In the past week, Bitcoin and Ethereum were up 0.28% and 0.18% respectively. Among the major altcoins, BNB, XRP, Dogecoin and Cardano corrected up to 8.30% whereas Solana, Tron, Hyperliquid gained up to 8.48%.
Nischal Shetty, founder, WazirX said easing US policy expectations and a weaker dollar strengthen the outlook for crypto, while Bitcoin’s resilience amid elevated oil prices and bond yields highlights sustained investor demand.
Shetty further said institutional ETF activity moderated last week, with US spot Bitcoin funds recording $389.7 million in net outflows, their largest weekly withdrawal in roughly six weeks.
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Market perspective
Prateek Gupta, Head of Business, Mudrex
Bitcoin has broken out of its recent $63,000 range, climbing above $64,000, as shifting macro conditions improve risk appetite. September Federal Reserve rate-hike expectations have fallen to around 30%, down from as high as 75% in late July, following weak retail sales with signs of a softer labour market.
CoinSwitch Markets Desk
Attention is now turning to upcoming U.S. regulatory discussions involving crypto industry leaders and the delayed CLARITY Act. Near term, $64K is key support, while $64.5K remains the immediate resistance.
Vikram Subburaj, CEO, Giottus
The latest on-chain picture remains cautious despite the price rebound. Spot volumes and transaction throughput continue to contract, indicating weak liquidity and limited market conviction. Staggered accumulation, limited leverage and disciplined position sizing remain preferable until Bitcoin clears 64,500-66,000 with stronger spot and sustained ETF demand.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
