Bitcoin holds above $102,000 as traders await fresh cues amid cooling inflation

As of 12:27 PM IST, Bitcoin was down 1.5% at $102,263, while Ethereum declined 3.8% to $2,569. The broader crypto market also saw a pullback, with global capitalisation falling 2.4% to $3.29 trillion. Altcoins such as XRP, Solana, Dogecoin, Cardano, and Shiba Inu dropped between 3% and 7%.

The recent rally was fuelled by optimism around a cooling U.S. CPI print and a temporary truce in U.S.-China tariff tensions. However, momentum has cooled as investors await further macroeconomic cues, particularly from upcoming U.S. retail sales data.

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“Bitcoin is trading range-bound between $102,500 and $104,000 as investors wait for a fresh catalyst,” said Alankar Saxena, Co-founder and CTO of Mudrex. “While institutional investors continue to buy, retail interest has been rising, with Google search trends for ‘Bitcoin’ reaching a 6-month high.”Ethereum saw strong inflows last week, with $1.2 billion withdrawn from centralised exchanges, indicating rising investor confidence. ETH’s rally pushed 60% of holding addresses into profit, and analysts believe the $3,000–$3,100 range could be the next resistance zone if bullish sentiment holds.

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“After a sharp move from $1,700 to $2,700 in a week, Ethereum is now consolidating below the $2,800 mark,” noted CoinSwitch Markets Desk. “The broader market appears to be stabilising after profit-taking, but macro conditions and upcoming legislation could shape the next phase.”Traders also remained focused on market indicators.“Bitcoin is showing resilience near $104K, with bulls defending key support at $102K,” said Sathvik Vishwanath, Co-Founder & CEO of Unocoin. “MACD shows a bullish crossover, while RSI at 63 reflects strength without being overbought. As long as BTC holds above $100K, short-term dips may remain buying opportunities.”

Meanwhile, market sentiment received a boost from positive institutional developments. Coinbase’s inclusion in the S&P 500, with a 24% rally, and VanEck’s launch of a tokenised U.S. Treasury fund on Ethereum and Solana signalled growing mainstream interest.

“Bitcoin’s resilience around the $103K level, despite softer-than-expected US CPI data, reflects a maturing market that’s pricing in macro developments with more caution,” said Avinash Shekhar, Co-Founder & CEO of Pi42. “Altcoins like RAY and ENA are gaining traction as capital rotates within the crypto ecosystem, suggesting strong investor confidence.”

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At the same time, political developments are also on the radar. A White House official confirmed that crypto legislation is expected to be signed by President Donald Trump before the August recess. However, recent controversy surrounding Trump-linked crypto ventures and Arizona’s veto of Bitcoin reserve bills added a note of caution to the otherwise bullish narrative.

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