Bitcoin traded near the $68,400 level on Tuesday, while Ethereum slipped to $1,986 due to mild profit-taking following the weekend rally, during which Bitcoin touched the $70,000 mark.
Bitcoin and Ethereum both slipped nearly 1% over the past 24 hours. Among the major altcoins, XRP, BNB, Solana, Tron, Cardano, and Hyperliquid gained over 2%, whereas Dogecoin plunged 3%.
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Bitcoin remains in consolidation as the RSI is near neutral levels, and the price is holding above key medium-term moving averages, indicating underlying stability, according to Nischal Shetty, Founder, WazirX. Ethereum shows relatively softer momentum, with RSI in the low-40s.
The global crypto market capitalisation slipped marginally to $2.35 trillion, according to CoinMarketCap.
Bitcoin slipped slightly below $68K before recovering to $68.5K, extending its recent sideways movement between $65K and $70K over the past 10 days. On the downside, support liquidity remains around $66K-$67K, which will likely cushion any increase in volatility, as stated by CoinSwitch Markets Desk.
In the past week, Bitcoin and Ethereum were down by 2% and 4%, respectively. Among the major altcoins, XRP, Tron, Dogecoin, and Cardano gained over 7%, whereas BNB, Solana, and Hyperliquid slipped upto 2%.
Traders wait for a clear trigger to set direction as Bitcoin moves in a narrow band between $68,500 and $70,000. Despite a 9% weekly gain, follow-through buying has been limited, Akshat Siddhant, Lead quant analyst, Mudrex said.
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Market perspective
Vikram Subburaj, CEO, Giottus
Bitcoin is back in familiar terrain. It is trading in the mid-$68,000s, and rallies are repeatedly stalling near $70,000. This is a level that has shifted from ‘breakout line’ to ‘supply zone’ in just a few sessions.
On-chain signals reinforce the view that the market is locked in a range. So, there is a clear tendency for rallies to fade.
