Bitcoin has rebounded towards $92,000 as traders appear cautiously optimistic ahead of key US inflation data due this week, which could influence the Federal Reserve’s rate path and, in turn, crypto liquidity conditions.
In the past 24 hours, Bitcoin was up 1.42%, while Ethereum gained 1.90%. Among major altcoins, Solana, Dogecoin, Cardano and Hyperliquid were up over 5% in the past 24 hours. In the same period, XRP, BNB and Tron were down by nearly 1%.
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Riya Sehgal, Research Analyst at Delta Exchange, said the crypto market opened the week on a positive note, with Bitcoin and Ethereum leading modest gains. On-chain and technical indicators suggest short-term bullish momentum, with BTC reclaiming key moving averages and ETH breaking out of its consolidation range.
Sehgal added that sustained closes above $92,000 for BTC and $3,100 for ETH could confirm a broader market recovery phase.
The global crypto market capitalisation rose 1.49% to $3.14 trillion, according to CoinMarketCap.
The CoinDCX Research Team said that following a bullish weekend close, Bitcoin price is attempting to secure levels above $92,000, while bears continue to offer resistance.
Ethereum was up 0.02% in the past week, while Bitcoin was down 0.48% during the same period. Among major altcoins, BNB, Solana and Tron were up nearly 5% over the past week, while XRP, Dogecoin, Cardano and Hyperliquid were down over 6%.
Harish Vatnani, Head of Trade at ZebPay, said Bitcoin briefly pushed towards $92,000 during US mid-morning trade but could not hold the gains, slipping back through the session before the US market closed on Friday.
BTC has shown strong development over the past 10 days as it broke the $90,000 resistance and rallied up to $94,588. The asset is now trying to take support at $90,000, Vatnani added.
BTC is up 1.2% in the last 24 hours and has consolidated between $90,000 and $92,000, with buying near $90,000 signalling demand, while repeated rejections above $92,000 reflect market indecision as participants await direction.
Over the past few weeks, BTC has remained range-bound between $86,000 and $94,000, a structure that closely resembles its March to May 2025 consolidation phase, which later resulted in a strong breakout.
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Bitcoin remained range-bound and slipped back below key psychological levels amid short-term profit-taking and mixed institutional flows. After testing the $94,000 to $95,000 zone earlier in the week, BTC retraced, briefly dipping below $90,000 before stabilising around the low to mid $90,000 levels on January 8.
Analysts predict modest institutional exposure, with ETF inflows pulling back and some small sell-offs potentially triggering negative market sentiment. Currently, there are not enough conditions for ETFs to signal a rise in capital allocation to crypto, despite a weakening dollar.
(Disclaimer: The recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)
