Nischal Shetty, Founder, WazirX
"Bitcoin and Ethereum remained steady despite a difficult session across global markets. Bitcoin traded near $81,599, while Ether held around $2,415 as fresh institutional inflows helped absorb part of the pressure created by higher inflation, rising Treasury yields and weaker equities.
Bitcoin is consolidating between $81,200 and $82,250, with neutral RSI indicating neither buyers nor sellers have established clear control. The $81,200-$81,500 region remains important for stability, while a move through $81,850-$82,250 could improve short-term momentum. Below the current range, $80,300 provides the next reference level. BTC Futures traders can look for expanding volume and open interest alongside balanced funding to assess whether any recovery has broader participation.
Ethereum's short-term momentum remains under pressure, but its longer-term structure has not weakened significantly. The $2,400-$2,410 region is currently providing support, with $2,350 available below. A recovery above $2,425 would improve the setup, although $2,490-$2,505 remains the stronger barrier around the psychological $2,500 level.
PYTH stood out with a 2.16% gain to $0.0869. The token remains above its major daily moving averages, while RSI near 67 reflects firm but controlled momentum. The immediate trading range sits between support at $0.084-$0.085 and resistance at $0.088-$0.090.
Macro conditions remained challenging. India's wholesale inflation climbed to 11.39%, potentially keeping the RBI cautious, while US inflation reached 3.7% and the 10-year Treasury yield approached 5.33%. The Nasdaq fell 1.88%, the Nikkei declined 4.38% and the KOSPI dropped 7.29%. Gold gained 1.30%, reflecting defensive positioning, while oil's 1.14% decline provided some relief from inflation concerns.
Institutional demand improved despite the wider caution. US spot Bitcoin ETFs attracted $175.62 million, while Ethereum ETFs recorded $24.84 million in inflows, ending a ten-session withdrawal streak. The limited price reaction indicates that ETF demand was offset by macro pressure, derivatives liquidations and profit-taking. Even so, both assets holding key levels during a broad market sell-off points to continued underlying spot demand."