Bitcoin hovered near $113,000 on Thursday, with analysts highlighting $109,000 as a crucial support level. While options data signals possible upside toward $116,000, Ethereum attracted strong ETF inflows, reflecting rising institutional appetite even as broader crypto markets trade mixed amid macroeconomic uncertainty.
Bitcoin traded at $113,078 on Thursday, slipping 0.82% over the past week. Analysts highlighted $109,000 as a crucial support level, warning that a breach below it could trigger a short-term correction across altcoins.
“Crypto markets are staging a midweek rebound, with total capitalisation back near $3.9 trillion after a sharp bout of liquidations earlier in the week. Bitcoin is steady above $110,000, though unable to get past $112,000 resistance. The market is treating $109,000 as a key line of defence below which a short-term dip can occur across altcoins,” said Vikram Subburaj, CEO, Giottus.com
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“On the derivatives side, options positioning points to $116,000 as the “max pain” level into expiry, suggesting traders are leaning toward upside pressure in the short term.
Overall, while momentum remains fragile, the balance of signals implies Bitcoin is in a holding pattern with a bias for recovery if these support zones continue to hold,” Subburaj further added.
At 10:26 AM IST, Bitcoin was trading at $113,010, up by 1.23% over the past 24 hours and down nearly 0.82% over the past week. Ethereum, on the other hand, was trading at $4,570, down by 1.24% in the past 24 hours but up by 6.32% over the last seven days.
According to CoinMarketCap data, the crypto sector’s overall market capitalisation stood at around $3.89 trillion on Thursday.
According to another analyst, crypto markets are sending mixed signals, with Bitcoin (BTC) steady near $111,800 after a seven-week low, while Ethereum (ETH) traded at $4,532, easing from recent highs.
“Institutional appetite leans heavily toward Ethereum: Ethereum spot ETFs pulled in a record ~$455 million in net inflows — marking the second time this week ETH ETFs outpaced BTC — with BlackRock’s ETHA alone contributing ~$323 million and Fidelity’s FETH $85 million. In contrast, Bitcoin ETFs saw modest inflows of approximately $92 million (around 827 BTC),” according to CoinSwitch Markets Desk.
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According to CoinSwitch Markets Desk, President Trump’s attempt to remove Fed Governor Lisa Cook intensified concerns about the central bank’s independence. U.S. Treasury and the dollar fell under pressure, with investors turning to traditional “safe havens” like gold — which has surged 30% year-to-date — though the situation raises questions about cryptocurrencies’ comparative hedge appeal.
The CoinSwitch Markets Desk further mentioned that Federal Reserve Chair Jerome Powell acknowledged the inflationary impact of rising tariffs and suggested that rate cuts may be forthcoming, noting economic weaknesses such as slowing job growth. This dovish tone boosted risk assets, including crypto, as markets priced in easier monetary policy.
Bitcoin is holding steady above the $111,700 mark as on-chain trends turn bullish. For the first time in 10 days, exchanges saw net outflows of 192 BTC, indicating that investors are inclined to hold BTC in the long term, easing sell-side pressure.
However, macroeconomic data such as the US jobless claims and the GDP numbers scheduled for later today could influence the market direction. A breakout above $113,100 could accelerate momentum toward $115,000, strengthening the case for a sustained uptrend. On the downside, $111,000 remains the immediate support.
Ethereum has eased slightly despite attracting nearly $1 billion in ETF inflows this week, suggesting profit-taking even as institutional demand builds. Broader altcoin performance remains uneven, with XRP, BNB, Tron and Cardano posting mild declines while Solana and Sui advanced.
