Bitcoin holds near $84,000, Ethereum moves towards $2,700 as buyers remain active
In the past 24 hours, Bitcoin and Ethereum were down 1.6% and 1.5% respectively. Among the major altcoins, BNB, Dogecoin, Solana, Hyperliquid, Dogecoin and Cardano corrected upto 3.1% whereas Tron was up 0.3%.
Bitcoin traded near the $84,000 level while Ethereum approached the $2,700 mark as active buyers remained in the market, even with restrictive global funding conditions. The cryptocurrency was trading at $84,580 and Ethereum was at $2,680. In the past 24 hours, both Bitcoin and Ethereum experienced a 1.6% and 1.5% decline, respectively.
Among major altcoins, BNB, Dogecoin, Solana, Hyperliquid, Dogecoin, and Cardano all corrected by up to 3.1%, while Tron saw a 0.3% increase. The global crypto market capitalization dropped 1.6% to $2.97 trillion, according to data from Coingecko.
Nischal Shetty, founder of WazirX, noted that the crypto market remained steady this week, despite fluctuations in interest-rate expectations, Treasury yields, commodities, and global equities. Bitcoin fluctuated between $83,000 and $83,800 before settling at $83,461, with a constructive daily structure but cooled momentum as it neared resistance. Ethereum rose from $2,658 to $2,689, staying near the psychological $2,700 level, with support moving higher to $2,670-$2,680 and resistance forming at $2,695-$2,710.
Shetty also mentioned that crypto ETFs saw approximately $1.9 billion in net inflows, with positive flows exceeding an outflow of around $200 million on September 30. This indicated strong institutional interest, despite a late reversal. Over the past week, Bitcoin rose by 0.8%, while Ethereum declined by 0.2%. Among major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid, and Cardano all experienced corrections of up to 4.6%.
Riya Sehgal, a research analyst at Delta Exchange, highlighted a sharp macro-driven whipsaw in crypto markets following U.S. nonfarm payrolls, which rose by only 29,000 compared to the expected 90,000. Unemployment also increased to 4.2% from 4.1%. Technically, Bitcoin's rejection from the 86,000-87,200 supply zone brought the price back near $84,500, and Ethereum mirrored this move, rejecting around $2,775 and retreating toward $2,680.
Sehgal added that rising Bitcoin open interest and elevated funding rates make leverage an important source of near-term volatility, alongside Treasury yields.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
