As of 11:27 AM IST, Bitcoin was down 1.4% at $102,393, while Ethereum slipped 1.8% to $2,449.
The global cryptocurrency market capitalization fell 1.7% to $3.28 trillion, with major altcoins like BNB, Solana, Dogecoin, Cardano, Tron, Sui, Chainlink, Avalanche, and Shiba Inu down as much as 7%. XRP, however, bucked the trend, gaining 4.12% to $2.48.
Edul Patel, Co-founder and CEO of Mudrex, said, “Bitcoin is trading near $102,200 after rebounding from key support at $100,000. Investors turned to profit booking at higher levels as macroeconomic factors like the strengthening dollar index and the US-China trade deal made equities more attractive.”
Patel also noted that institutions remain active buyers, with Strategy and Metaplanet together accumulating over 14,600 BTC recently—highlighting continued long-term confidence in the asset.
Shivam Thakral, CEO of BuyUcoin, echoed similar sentiments, stating, “Bitcoin witnessed a slight dip due to traders liquidating positions for profit booking. Market participants are now focused on April’s CPI and PPI data, which could influence expectations for future Federal Reserve rate decisions.”Meanwhile, investors are closely watching the release of the US inflation data later today. “A third consecutive downside surprise in CPI could boost Bitcoin by increasing expectations for rate cuts in 2025,” Patel added.Despite today’s pullback, activity in the crypto space remains high. Bitcoin’s market capitalization now stands at $2.035 trillion, with dominance at 62%, and trading volume up 40.3% to $64.6 billion, according to CoinMarketCap.
Avinash Shekhar, Co-founder and CEO of Pi42, said the broader rally in crypto—especially Bitcoin’s recent surge past $105,000—reflects “growing investor confidence amid improving global macroeconomic signals.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
