Synopsis
Cryptocurrencies traded mixed as Bitcoin held above $84,000 amid caution following Fed Chair Powell’s tariff warning. Ethereum stayed under $1,600, while altcoins saw varied moves. Analysts expect rangebound action due to macro uncertainty, miner activity, and technical indicators like a potential death cross in Bitcoin.
Major cryptocurrencies traded mixed on Thursday after US Federal Reserve Chair Jerome Powell warned of the risks of slowing growth and rising inflation due to potential tariffs.
At 10:52 AM IST, Bitcoin rose 0.7% to $84,312, while Ethereum gained 0.6% to $1,596. The global crypto market cap edged up 0.2% to $2.64 trillion.
Among altcoins, XRP, Solana, Dogecoin, Cardano, and Chainlink surged up to 4%, while BNB, Tron, Sui, Litecoin, and NEAR Protocol declined as much as 3%.
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TOP COIN SETSCrypto Blue Chip – 57.88% BuySmart Contract Tracker7.71% BuyAI Tracker6.44% BuyNFT & Metaverse Tracker2.76% BuyDeFi Tracker-31.45% BuyTOP COINS (₹) Solana11,494 (6.53%)BuyEthereum137,301 (1.69%)BuyXRP180 (1.64%)BuyBitcoin7,244,303 (1.18%)BuyBNB49,917 (0.31%)Buy”Bitcoin remains steady above $84,000, showing resilience despite broader market weakness. A brief move to $86,000 was reversed after the US Fed Chair warned of growing economic risks from its tariff policies,” said Vikram Subburaj, CEO of Giottus.
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View Details »“Altcoin performance was mixed. Solana gained 3%, reclaiming the $130 level, while Ethereum continues to trade below $1,600. Bitcoin and altcoins are likely to stay rangebound this weekend. Analysts are closely watching key levels — a breakout above $88,000 or a fall below $80,500 could set the next trend,” he added.
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Avinash Shekhar, Co-Founder & CEO of Pi42, said, “Despite Bitcoin’s relative stability, market sentiment remains cautious as the US announces potential tariffs on China, adding to macroeconomic uncertainty. In the short term, price action across major tokens may remain subdued or volatile, depending on miner activity, Ethereum upgrades, and regulatory news from the US and China.”
Also Read: Bitcoin was born out of the 2008 financial crisis, will die in the 2025 crisis, says Peter Schiff
Bitcoin’s market cap rose to $1.673 trillion, with its dominance increasing to 63.05%. Daily trading volume climbed 3.7% to $27.92 billion. Stablecoins accounted for 91.55% of total crypto trading activity, reaching $72.34 billion, according to .
Technical view on BTC
“Bitcoin is hovering around $84,000 with a 14-day RSI of 42.66, indicating neutral momentum,” said Sathvik Vishwanath, Co-Founder & CEO, Unocoin.
“Technical indicators suggest a possible ‘death cross’, where the 50-day moving average may dip below the 200-day average — a signal of potential further downside. Key support is seen at $76,000 and $73,800, while resistance lies near $89,000,” he noted.
Despite accumulation by large investors, selling pressure remains due to macroeconomic headwinds and ETF outflows. While April has historically been a strong month for Bitcoin, current conditions call for cautious optimism, Vishwanath added.
Also Read: Binance seeks to curb US oversight during deal talks with Trump’s crypto company, WSJ says
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
