Bitcoin holds near $84,000, Ethereum moves towards $2,700 as buyers remain active

Bitcoin trades around the $84,000 mark whereas Ethereum moves towards the $2,700 mark as buyers remained active even as global funding conditions stayed restrictive. The cryptocurrency was trading at $84,580 mark and Ethereum was at $2,680 mark.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%.The global crypto market capitalisation was down 1.6% to $2.97 trillion, according to the data on Coingecko.Also Read |Explained: Want to know how long your investment will take to double? Use Rule of 72Nischal Shetty, Founder, WazirX said The crypto market remained steady this week, despite changes in interest-rate expectations, Treasury yields, commodities, and global equities.“Bitcoin moved between approximately $83,000 and $83,800 before settling near $83,461. Its daily structure remained constructive, although momentum cooled as the asset repeatedly approached resistance. Ethereum strengthened from about $2,658 to $2,689 and stayed near the psychological $2,700 level. Support moved higher to 2,670-2,680, while 2,695-2,710 formed the immediate resistance zone.”Shetty further said that crypto ETFs recorded approximately $1.9 billion in overall net inflows, with positive flows outweighing an outflow of around $200 million on September 30. The weekly total indicates that institutional interest remained strong despite the late reversal.Over the last week, Bitcoin was up 0.8% whereas Ethereum was down 0.2%. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano corrected upto 4.6%.Riya Sehgal, Research Analyst, Delta Exchange said crypto markets saw a sharp macro-driven whipsaw after September U.S. nonfarm payrolls rose by just 29,000 versus 90,000 expected, while unemployment increased to 4.2% from 4.1%.Technically, Bitcoin’s rejection from the 86,000-87,200 supply zone has brought the price back near $84,500. Ethereum mirrored the move, rejecting from roughly $2,775 and retreating toward $2,680.”Also Read | Quant Mutual Fund says investors should stay agile in portfolio allocation amid market shiftsSehgal further said that with Bitcoin open interest having risen by roughly $2.3 billion and funding rates elevated, leverage remains an important source of near-term volatility alongside Treasury yields.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)