Bitcoin traded around $114,132 on Thursday. It consolidated between $104,000 and $114,000 after reaching a record high in mid-August. Experts suggest this range indicates a typical post-euphoria phase. Volatility is high, but long-term trends are uncertain. Ethereum traded at $4,405. The overall cryptocurrency market capitalization stood at around $3.96 trillion. Market shows resilience as the U.S. dollar softens.
Bitcoin was trading around $114,132 on Thursday, consolidating between $104K and $114K after hitting an all-time high in mid-August. Experts say this range reflects a typical post-euphoria phase, where volatility remains high but long-term trends are uncertain.
“Bitcoin is currently consolidating between $104,000 and $114,000 after hitting all-time highs in mid-August. This range reflects a typical post-euphoria phase, where volatility increases but long-term trends remain uncertain. Glassnode notes that 95% of BTC supply remains in profit, suggesting a zone of potential selling pressure and market indecision,” said Sathvik Vishwanath, Co-Founder & CEO, Unocoin.
Also Read | Mutual fund SIP inflows dip marginally by 1% to Rs 28,265 crore in August
“Key resistance sits near $114K, while $104K marks critical support, possibly signaling seller exhaustion if tested. Macroeconomic factors — like interest rates, ETF flows, and risk sentiment — remain influential. Without a breakout or breakdown, Bitcoin may continue sideways in the near term, awaiting stronger catalysts to define its next major move,” he added.
At 10:50 AM IST, Bitcoin was trading at $114,082, up by 2.28% over the past 24 hours and up by nearly 2.92% over the past week. Ethereum, meanwhile, was trading at $4,405, up by 2.31% in the past 24 hours and down by 0.65% over the last seven days.
According to CoinMarketCap, the overall cryptocurrency market capitalization stood at around $3.96 trillion on Thursday.
Parth Srivastava, Head of Quant at 9Point Capital’s Research Team
Bitcoin remains resilient as the U.S. dollar shows signs of softening, improving risk sentiment across markets. With liquidity flows stabilizing and institutional demand holding firm, BTC could see upward momentum in the near to mid term. Key resistance levels remain in focus, but weakening dollar strength provides a supportive backdrop for potential bullish continuation.
Also Read | Parag Parikh Flexi Cap Fund increase stake in ITC and 9 other stocks, trim exposure from 3 in August
Bitcoin’s renewed surge toward the $113,000 level underscores the deepening confidence and liquidity flowing into digital assets. This kind of momentum typically sparks a ripple effect across the broader crypto market, where we see alternative tokens responding with strong price action and heightened investor interest. It is also an indicator of how digital assets as a whole are evolving from a speculative niche into a more structured and diverse ecosystem.
For investors, this phase highlights the importance of staying informed, adopting a research-driven approach and viewing diversification not just as a risk management tool but as a way to participate in the innovation happening across different segments of the crypto economy. As the market matures, disciplined participation backed by knowledge and long-term thinking can be particularly rewarding.
