Bitcoin trades around the $83,900 mark on Tuesday and Ethereum trades around $2,680 as the crypto markets consolidated. The cryptocurrency was trading at the $83,915 mark and Ethereum was trading at the $2,708 mark.
In the past 24 hours, Bitcoin and Ethereum were up 1.37% and 2.36% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano gained up to 3.56%, whereas Hyperliquid was down 1.06%.
Avinash Shekhar, Co-founder & CEO, Pi42 said Bitcoin is trading around the $83,500 mark after giving back some of its recent gains, as rising US Treasury yields, higher oil prices and expectations of further monetary tightening keep risk appetite in check.
He further said, "For Bitcoin, the $82,000-$83,000 zone remains an important near-term support area, while a move back above $85,000 could help restore momentum towards the recent highs."
The global crypto market capitalisation was up 1.08% to $2.87 trillion, according to data on CoinMarketCap.
CoinSwitch Markets Desk said BTC is consolidating around $83K as investors reassess risk amid higher oil prices, with crude holding above $100 on renewed US-Iran tensions. Institutional demand remains robust, with spot Bitcoin ETFs drawing $2.45 billion in net inflows last week, their strongest run since October 2025.
Over the last week, Bitcoin and Ethereum were down 2.34% and 1.20% respectively. Among the major altcoins, BNB, XRP, Tron, Hyperliquid, and Dogecoin corrected up to 7%, whereas Solana and Cardano were up 1.99% and 2% respectively.
Prateek Gupta, Head of Business, Mudrex said Bitcoin is consolidating around $83,000 after giving back much of last week's breakout above $86,000, as renewed US-Iran tensions pushed oil toward $108/barrel and Treasury yields to their highest since 2007.
Gupta further said that the move looks more like risk-off pressure and profit-taking than a fundamental reversal. However, liquidation risks are rising, with Binance showing $4.35 billion in long positions below current levels versus $1.65 billion in shorts above.
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Market perspective
Nischal Shetty, Founder, WazirX: Bitcoin trades near $83,022 in a short-term pullback within a constructive daily structure. Immediate support lies around $81,700-$82,000, while $83,200-$83,500 forms resistance. Holding support could stabilise momentum; reclaiming resistance may restore buyer control, whereas a breakdown would shift attention toward the secondary $80,900-$81,200 support region during the next trading session.
Harish Vatnani, Head of Trade, ZebPay: ETH is consolidating within a short-term descending channel after rejecting near $2,800. Price is repeatedly facing resistance at the descending trendline, while $2,580 acts as the key support zone.
Riya Sehgal, Research Analyst, Delta Exchange: Overall, the market is seeing volatility and repeated rebounds and rejections, but the move remains closer to macro-driven deleveraging and consolidation than a broad sell-off.
( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
