Bitcoin traded near $93,200 on Monday. This equals roughly Rs. 84.7 lakh in India. Moreover, the cryptocurrency market stayed range-bound throughout the day.
Investors showed cautious sentiment overall. Recent profit-taking pressured prices downward. Additionally, macro uncertainty kept movements limited.
Analysts pointed to upcoming US inflation data first. Federal Reserve comments could reset interest rate expectations next. As a result, the market lacked strong directional conviction.
Ethereum held steady near $3,200. This amounts to about Rs. 2.9 lakh. Furthermore, its stability signaled confidence in the broader ecosystem.
Altcoins showed mixed performance. Binance Coin traded around $926. Solana hovered near $133.80. Meanwhile, XRP sat at $1.97, and Dogecoin stayed close to $0.12.
Akshat Siddhant from Mudrex highlighted short-term trends. He noted profit-taking pushed Bitcoin to around $92,500. Moreover, short-term holder deposits spiked with 41,800 BTC moving to exchanges.
Despite swings, the underlying trend remained healthy. Continued buying interest supported the market. Consequently, confidence persisted among participants.
Avinash Shekhar of Pi42 emphasized discipline. He advised investors to focus on long-term conviction. Additionally, he recommended staggering allocations wisely.
Vikram Subburaj from Giottus described the phase clearly. On-chain data pointed to consolidation, not panic selling. Buyers defended the $90,000 support zone firmly.
Rallies faced resistance between $93,000 and $95,000. As long as key supports hold, accumulation makes sense. Therefore, disciplined position sizing beats aggressive trading now.
Bitcoin’s hold above $90,000 remains crucial. A push toward $96,100 resistance could set the near-term direction. Overall, caution dominates, but the foundation stays strong.
