Bitcoin traded near the $64,000 mark as falling oil prices and US-Iran peace hopes lifted the risk sentiment. The cryptocurrency was trading at $63,538 mark.
In the past 24 hours, Bitcoin was up 0.2% and Ethereum was down 0.16%, trading near the $1,663 mark. Among the major altcoins, BNB, XRP, Dogecoin, Hyperliquid and Cardano fell nearly 2% whereas Solana and Tron gained up to 1%.
The global crypto market capitalisation edged down 2% to $3.07 trillion, according to CoinMarketCap.
Riya Sehgal, Research Analyst, Delta Exchange said that Bitcoin is trading near the $63,000–$64,000 zone, while Ethereum is holding around $1,650–$1,680. The decline in Brent oil to its lowest level since March has eased some geopolitical inflation pressure, while Polymarket odds showing a higher probability of a permanent U.S.-Iran peace deal by year-end have also improved broader risk sentiment.
Sehgal further added that technically, BTC is holding above its 4-hour 20 EMA and testing the 50 EMA near $63,600–$63,700. RSI around 55 shows mild bullish momentum, while falling ATR near 890 indicates volatility compression.
In the past week, Bitcoin and Ethereum were up 4% and 6% respectively. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano gained up to 11% whereas Tron and Hyperliquid fell 1% and 3% respectively.
WazirX Market Desk said that this week, Bitcoin traded between $61,244 and $63,536, staying below key moving averages but showing improving RSI toward the end of the week. Oversold readings, dip buying, long-term accumulation, and Bitcoin's growing role as collateral kept the recovery's potential in focus.
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Ethereum traded between $1,625 and $1,684, holding near the key $1,600 level. Whale accumulation, low exchange reserves, and roadmap developments around Layer 2 scaling, privacy, and composability supported its long-term outlook, WazirX Market Desk further said.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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