Nischal Shetty, Founder, WazirX
"US producer inflation rose 1.3%, while retail sales gained 0.8% and jobless claims remained low at 199,000, signaling firm demand but limiting scope for rapid Fed easing. India's exports surged 23%, improving regional confidence and supporting domestic crypto participation. The US 10-year yield fell to 5.086%, offering liquidity relief, while higher oil prices maintained inflation pressure. Strong growth and lower yields favor Bitcoin and Ethereum, although persistent inflation may keep broader crypto participation selective in the near term across markets.
Bitcoin trades near $82,108, consolidating between longer-term support and short-term resistance. The $81,800-$82,000 range remains important, followed by $81,200. A move through $82,500-$82,800 could improve momentum. Futures confirmation would require stronger volume and open interest without sharply rising funding today.
Ethereum trades near $2,442 and is showing early signs of stability. Immediate support lies around $2,420-$2,440, followed by $2,355. Resistance sits near $2,480-$2,500. Staying above support could aid recovery, while stronger activity above resistance would improve the broader market structure.
Global markets improved as Asian equities advanced broadly, led by the KOSPI's 3.08%, Sensex's 2.11% and Nikkei's 1.75% gains. US markets also finished higher, with the Dow up 1.08%, while the VIX fell 2.43%, indicating calmer sentiment. Gold gained 0.32%, showing continued demand for alternative assets, while oil declined 0.80%, easing inflation concerns. Stronger equities, lower volatility and reduced energy pressure may encourage wider participation across Bitcoin, Ethereum and altcoins during the current trading session.
U.S. spot Bitcoin ETFs recorded $261.4 million in daily net outflows, reversing the previous session's inflow, while Ethereum ETFs lost $129.51 million. Fidelity's FBTC led Bitcoin withdrawals, and BlackRock's ETHA drove most Ethereum redemptions.
Despite institutional selling, Bitcoin held near $82,108 and Ether gained slightly to around $2,442, showing that ETF activity does not determine prices alone. Spot demand, short-covering and derivatives positioning can absorb outflows, while profit-taking and macro pressure may similarly delay gains during strong inflow sessions too."