Bitcoin slipped to near $62,000 mark on Thursday as geopolitical risks weighed on market sentiment, while ETF inflows offered support. The cryptocurrency was trading at $62,038 mark.
Ethereum was down 1% to trade at $1,733 mark. Bitcoin also declined 1% in the past 24 hours. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano fell up to 3%.
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Akshat Siddhant, Lead quant analyst, Mudrex said Bitcoin is trading around the $62,000 level as renewed geopolitical tensions, following President Trump’s announcement ending the ceasefire, have pushed investors toward a risk-off stance and at the same time, Japan’s 10-year government bond yield has climbed to a 30-year high, prompting a broader rotation of capital across global markets.
He further said that despite these headwinds and persistent inflation concerns, spot Bitcoin ETFs recorded $143 million in net inflows, providing support to prices and the $60,000 level now remains a critical support zone.
The global crypto market capitalisation edged down 1% to $2.14 trillion, according to CoinMarketCap. The fear and greed index slightly drops to 25, while the market sentiments remain under fear, said CoinDCX Research Team.
In the past week, Bitcoin and Ethereum were up 2% and 6.5% respectively. Among the major altcoins, BNB, XRP, Tron, Hyperliquid, and Cardano rallied up to 8% whereas Solana and Dogecoin fell 0.9% and 0.7% respectively.
CoinSwitch Markets Desk said Bitcoin slipped to around $61.5K after Trump declared the US-Iran ceasefire "over” and the turmoil raised odds of a September Fed rate hike, adding pressure on risk assets like crypto. $61K remains a crucial level, with traders expecting a reversal once talks resume.
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What other analysts say
Riya Sehgal, Research Analyst, Delta Exchange
Crypto markets are in a macro-led risk-off phase. Bitcoin’s fall toward the $61,500–$62,000 zone reflects pressure from U.S.–Iran escalation, rising crude oil, higher bond yields, Japan bond-market stress, and Strategy-related Bitcoin sale concerns. ETF flows are supportive but limited. BTC spot ETFs saw around $21.4 million of inflows, while Ethereum ETFs saw around $26.9 million.
Nischal Shetty, founder, WazirX
Bitcoin trades near $62,014, with the daily technical outlook remaining cautious as the market consolidates. Moving averages indicate near-term weakness, while balanced momentum signals suggest traders are awaiting the next major catalyst.
Vikram Subburaj, CEO, Giottus
The broader crypto market cap stood near $2.14 trillion. Bitcoin dominance held around 58%. This indicates that traders remain defensive. They are not yet rotating aggressively into altcoins. On-chain signals remain mixed. Long-term holders appear to have resumed gradual accumulation, with net buying estimated in the 50,000-100,000 Bitcoin range.
( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
