Synopsis
Bitcoin experienced gains, driven by strong institutional inflows and growing investor confidence, reaching $94,598. Altcoins like XRP, Hedera, and Chainlink also saw increases. Bitcoin’s market cap climbed, supported by U.S. spot Bitcoin ETF inflows, with analysts eyeing $94,600 as the next breakout level and a potential surge to $124,000.
Bitcoin traded higher on Monday, extending last week’s gains amid strong institutional inflows and growing investor confidence. As of 12:42 PM IST, Bitcoin was up 0.57% at $94,598, while Ethereum rose 0.13% to $1,803. The global cryptocurrency market cap also increased by 0.9% to $2.97 trillion.
“Bitcoin is holding steady around $94,500, supported by strong ETF inflows and significant exchange outflows, indicating growing investor confidence,” said Edul Patel, Co-founder and CEO of Mudrex. “BTC faces immediate resistance at $96,000, with support at $90,500.”
Sathvik Vishwanath, Co-founder and CEO of Unocoin, said institutional accumulation remains strong, fueling Bitcoin’s bullish momentum. “Analysts are eyeing $94,600 as the next breakout level, with the $100,000 milestone back within reach,” he added.
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TOP COIN SETSWeb3 Tracker27.36% BuyAI Tracker20.65% BuyDeFi Tracker14.35% BuySmart Contract Tracker13.53% BuyCrypto Blue Chip – 59.37% BuyTOP COINS (₹) XRP199 (7.24%)BuyBNB51,584 (0.76%)BuyBitcoin8,067,196 (0.3%)BuyTether85 (-0.28%)BuyEthereum153,745 (-0.38%)BuyAlso Read: Is the memecoin mania affecting the credibility and future of crypto?
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View Details »Among altcoins, XRP led the gains with a 5.2% rise, followed by Hedera up 4.6%, Chainlink up 3%, Solana up 2.5%, Cardano up 2.4%, Sui up 1.67%, and Dogecoin up 0.7%.
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Bitcoin’s market cap climbed to $1.878 trillion, while its dominance slipped to 63.22%. Daily trading volume rose 4% to $20 billion. Stablecoins accounted for 90.57% of total crypto trading activity, totalling $57.6 billion, according to .
According to CoinSwitch Markets Desk, Bitcoin crossed the $95,000 mark on Friday night for the first time in two months and is currently holding firmly above its 20-, 50-, and 100-day moving averages. Meanwhile, U.S. spot Bitcoin ETFs recorded inflows of $3.06 billion last week, signaling strong investor confidence.
Also Read: Bitcoin surpasses Amazon in market value, now 6th largest global asset
Avinash Shekhar, Co-founder and CEO of Pi42, noted that Bitcoin’s uptrend is gaining momentum, supported by improving fundamentals and rising institutional demand. “Every pullback is being seen as a buying opportunity, setting up Bitcoin for a robust push into new territory,” he said, adding that indicators suggest a potential surge up to $124,000.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
