Bitcoin Trades Range-Bound

Bitcoin stayed near the $111,000 mark on Thursday, reflecting a cautious phase in the crypto market. The world’s largest cryptocurrency dropped about 1 percent to trade at $111,669 in early hours but managed to hold above its support levels. At 10:54 AM IST, Bitcoin was changing hands at $111,977, down just 0.38 percent in the last 24 hours and nearly 4.6 percent lower over the week.

Experts say the $115,000 level remains a key psychological barrier. Futures contracts worth $22.6 billion are set to expire, adding short-term pressure. However, resilience at current levels has reinforced bullish sentiment among selective traders who believe Bitcoin’s consolidation could lay the foundation for another upward move.

Ethereum and Altcoins Under Pressure

Ethereum traded around $4,021 during the session, struggling to hold the $4,100 support. The token slipped nearly 3 percent in the past 24 hours and is down more than 12 percent for the week. Analysts note that institutional demand remains steady for Ethereum, but retail flows have been weaker, creating volatility.

BNB also showed a mild pullback after earlier gains, trading at $995. Dogecoin, priced at $0.2340, dipped slightly even as large investors, or whales, reportedly accumulated over 2 billion DOGE in recent sessions. XRP and Solana also witnessed sharp moves, with Solana falling over 6 percent but still drawing investor interest amid speculation of potential exchange-traded funds linked to altcoins.

Market Sentiment and Outlook

The overall crypto market capitalization stood at $3.83 trillion, according to CoinMarketCap. Analysts highlighted that the sector continues to see rotation into altcoins, as traders seek short-term opportunities ahead of the month-end close.

While Bitcoin’s short-term path appears unclear, its ability to hold strong support levels has kept bullish traders optimistic. The combination of macroeconomic factors, regulatory updates, and ETF-related speculation continues to drive the mood in global crypto markets.

Investors Stay Alert

The crypto market remains highly dynamic, with prices capable of moving sharply in a matter of seconds. With futures expiry and macroeconomic data shaping sentiment, traders are preparing for a potentially volatile end to September.

 

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