Nischal Shetty, Founder, WazirX
"Inflation in India rose to 5.54%, while China's exports surged 64% despite weaker domestic sales. US Treasury yields near 5.24% and Brent above $106 kept borrowing costs and inflation concerns elevated, potentially limiting crypto liquidity. Tighter RBI expectations may restrain Indian participation, while US inflation data could reduce Federal Reserve tightening pressure. Overall, firm export demand supports confidence, but high yields and energy costs keep Bitcoin and altcoin participation selective.
Bitcoin trades near $82,249, consolidating below key short-term averages while RSI remains neutral. Support sits at $81,800- $82,000, followed by $80,200- $81,100; resistance lies at $82,800- $83,100. Holding support preserves recovery potential.
For BTC Futures traders, rising open interest alongside stronger volume and balanced funding would provide better confirmation of a sustained breakout.
Ethereum trades near $2,455 after short-term moving averages weakened, while its longer-term structure remains supported. The $2,440- $2,450 region provides immediate support, with $2,350 below. Reclaiming the psychological $2,500 level could improve participation, although $2,535- $2,565 remains the key resistance area. Holding support would preserve stability. Until then, price action may remain range-bound.
Asian equities weakened sharply, led by the KOSPI's 5.95% and Nikkei's 2.56% declines, while Singapore gained 0.42%. US markets' sentiment was mixed: the Dow rose 0.38%, but the Nasdaq fell 0.44% and the VIX increased 2.49%. Gold slipped 0.25%, while oil declined 1.11%, easing some inflation pressure. Although weaker equities may limit speculative participation, lower energy costs and limited defensive buying could support selective capital rotation into Bitcoin and broader crypto markets
during the current session.
U.S. spot Bitcoin ETFs recorded $21.13 million in daily net inflows, led by BlackRock's IBIT, while Ethereum ETFs posted $56.10 million in outflows, extending their withdrawal streak to nine sessions. Bitcoin nevertheless gained 0.60% to around $82,249, while Ether rose 0.45% to nearly $2,455 despite fund withdrawals. The divergence shows ETF flows do not determine prices alone. Spot demand, short-covering, derivatives positioning, exchange supply, profit-taking and macro conditions can absorb institutional activity and delay an equivalent price response across markets."