Bitcoin near $63,000 as weaker ETF demand and cancelled SEC meeting dampen crypto sentiment

In the past 24 hours, Bitcoin and Ethereum were down 0.7% and 0.3% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Cardano fell upto 1.1%.

The global crypto market capitalisation edged down 0.4% to $2.24 trillion, according to Coingecko.

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Riya Sehgal Research Analyst Delta Exchange said the crypto markets remain cautious, with Bitcoin hovering near the $63,000 mark as weaker ETF demand and renewed regulatory uncertainty limit risk appetite.

Shetty further said that institutional demand stayed constructive, with strong ETF inflows, but offsetting selling and subdued momentum kept both BTC and ETH in consolidation.

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Here is what other analyst say

Harish Vatnani, Head of Trade, ZebPay:Bitcoin and the broader cryptocurrency market continue to trade with subdued momentum, as BTC remains range-bound between $62,000 and $66,000. Uncertainty surrounding global macroeconomic conditions and geopolitical developments has kept traders cautious, limiting fresh participation and resulting in low market volatility.

Ethereum is trading near the $1,885 mark after recovering from recent lows, but it continues to face strong resistance in the $1,950–2,000 zone. Despite repeated rejection near these levels, buyers remain active on dips, indicating that underlying demand is still intact.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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