Altcoins record 5-10 percent weekly declines amidst thin liquidity
Bitcoin traded around $86,900 (roughly Rs. 78.1 lakh) on Tuesday as the market continued to stabilise following recent volatility. The asset briefly slipped toward the $84,000-$85,000 (roughly Rs. 75.4 lakh-Rs. 76.2 lakh) support band before buyers stepped in, helping BTC recover above $86,000 (roughly Rs. 77.3 lakh). The move follows a weekend marked by high liquidations and weak risk appetite, with traders now watching upcoming macro cues, including shifts in expectations from the US Federal Reserve. Ethereum (ETH) traded around $2,800 (roughly Rs. 2.51 lakh). As per the Gadgets 360 tracker, Bitcoin is priced around Rs. 78.1 lakh in India, while Ethereum trades near Rs. 2.51 lakh.
Crypto Market Sentiment Remains Cautious as Altcoins Extend Losses
Most major altcoins have now recorded 5-10 percent weekly losses. Analysts from Pi42 note that altcoins could remain weak until Bitcoin regains momentum. Solana (SOL) traded at $127 (roughly Rs. 11,300), XRP was at $2.02 (roughly Rs. 181), and Binance Coin (BNB) was at $830 (roughly Rs. 74,300). Dogecoin (DOGE) hovered around $0.13 (roughly Rs. 12).
The CoinSwitch Markets Desk said BTC’s intraday action reflected consolidation. “If the price holds above $85,500 (roughly Rs. 76.8 lakh), momentum could build toward $87,500-$88,000 (roughly Rs. 78.6 lakh-Rs. 78.9 lakh), the next resistance zone […] Investors can follow macro drivers closely, especially shifting Fed expectations.”
Riya Sehgal, Research Analyst, Delta Exchange, said sentiment stayed fragile. “The downturn followed a volatile weekend that saw over $500 million (roughly Rs. 4,48,950 crore) in liquidations, leaving sentiment fragile and risk appetite subdued […] Ethereum is showing a similar pattern, stabilising near $2,800 (roughly Rs. 2.51 lakh) after briefly dipping to $2,700 (roughly Rs. 2.42 lakh) […] Looking ahead, the broader trend will likely depend on macro cues, particularly US inflation data and Fed rate expectations.”
Avinash Shekhar, Co-Founder & CEO, Pi42, said the crypto market remains under pressure.
“The market is tracking historical on-chain signals that have appeared before strong Bitcoin rebounds. Ethereum’s futures volume surge and selective altcoin resilience show that pockets of conviction still exist beneath the broader stress […] The drop below $86,000 (roughly Rs. 77.3 lakh) reminded everyone that macro is driving this cycle even though on-chain metrics are flashing patterns that once preceded strong rallies. If global risk stabilises and flows begin to normalise volatility could flip to the upside.”
Market sentiment remains fragile, with traders watching global cues closely. Bitcoin must hold above $85,500 (roughly Rs. 76.8 lakh) to maintain near-term stability, while a move above $87,500-$88,000 (roughly Rs. 78.6 lakh – 79.1 lakh) could open the door to higher resistance levels in the coming sessions.
