The global cryptocurrency market cap also fell by 2.93% to approximately $3.14 trillion in the past 24 hours.
“Bitcoin has been range-bound between $97,000 and $98,000 over the past 24 hours, rebounding from a local low of $96,000 amid escalating U.S.-China trade tensions,” said Alankar Saxena, Cofounder and CTO of Mudrex.
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“While BTC lacks the strength for a decisive move, technical indicators like the momentum oscillator suggest further upside if buying pressure strengthens. A breakout above the $98,500-$100,000 range could trigger bullish momentum, paving the way for a potential move toward $105,000 in the near term,” Saxena added.Vikram Subburaj, CEO of Giottus, said, “Bitcoin is holding above $97,000 after a mild recovery today, though buyer sentiment remains subdued. Technical indicators – RSI and MACD suggest consolidation could persist before Bitcoin attempts a breakout. Traders are eyeing US jobs data release tonight which could provide the catalyst.”
Also Read: Gold, silver, Bitcoin may crash as Trump tariffs loom, warns Rich Dad, Poor Dad author Robert KiyosakiOther major altcoins, including XRP (-6.8%), Solana (-6.2%), BNB (-1%), Dogecoin (-6.3%), Cardano (-6.9%), Chainlink (-6%), Avalanche (-7.75%), Stellar (-5.8%), Hedera (-6.6%), Sui (-10%), and Shiba Inu (-7.7%) also saw declines.Also Read: Budget 2025: No relief for crypto investors, new compliance requirement introduced
In the last 24 hours, Bitcoin’s market cap dropped to $1.918 trillion. Bitcoin’s dominance now stands at 61.09%. BTC volume in the same period rose 3.64% to $47.83 billion. Meanwhile, stablecoins accounted for $114.92 billion of this volume, or 92.9%, according to CoinMarketCap.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
