Bitcoin trades near $63,000 as falling oil prices ease inflation worries; weak flows limit recovery

Bitcoin is trading near the $63,000 mark on Monday as falling oil prices ease inflation worries and weak flows limit the recovery. The cryptocurrency was trading at $62,528 mark.

In the past 24 hours, Bitcoin was down 1.39% and Ethereum was down 1.90% to trade at $1,840 mark. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano corrected upto 1.74% and Hyperliquid was up 0.28%.

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Vikram Subburaj, CEO, Giottus said Bitcoin traded near $63,125 on Monday, gaining about 0.3% over 24 hours, as falling oil prices eased some inflation concerns. However, weak institutional flows and subdued spot-market activity continued to limit the recovery.

On-chain conditions continue to indicate cautious consolidation. Exchange liquidity has contracted and aggressive selling has moderated, while long-term holders have largely retained their Bitcoin, Subburaj further said.

The global crypto market capitalisation edged down 1.1% to $2.15 trillion, according to CoinMarketCap. The crypt fear and greed index is at 35 as the market sentiments remain under fear, said CoinDCX Research Team.

In the past week, Bitcoin and Ethereum were down 4.31% and 6.44% respectively. Among the major altcoins, XRP, Solana, Tron, Hyperliquid, Dogecoin fell upto 12.64% and BNB and Cardano were up 1.27% and 10.51% respectively.

Avinash Shekhar, Co-Founder & CEO, Pi42 said Bitcoin continues to hold the market’s attention as it trades near the $63,000 mark, even as short term price action remains range bound and technical resistance persists and at the same time, renewed whale wallet activity has reminded participants that large on chain movements can influence sentiment, although they do not always signal an immediate directional shift.

He further said that for investors, this is a time to stay disciplined rather than react to every headline or large wallet transaction and market cycles often reward patience over impulsive decisions.

Market perspective

Akshat Siddhant, Lead quant analyst, Mudrex: Bitcoin ended July with a gain of more than 7.3%, reversing two consecutive months of losses and signalling renewed resilience. US spot Bitcoin ETFs also returned to net inflows, attracting $172.4 million during the month.

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CoinSwitch Markets Desk: BTC remained steady near $63K despite an estimated $88.6 million Coldcard wallet exploit, which renewed discussions around self-custody security. Ongoing geopolitical tensions between the US and Iran kept traders cautious.

Nischal Shetty, founder, WazirX: US spot Bitcoin ETFs recorded $265.4 million in outflows on July 31, contributing to short-term caution. However, Ethereum ETFs attracted $365 million during July, reflecting sustained institutional interest despite daily price fluctuations.

Riya Sehgal, Research Analyst, Delta Exchange: Crypto markets remain under pressure, with Bitcoin near $63,000 and Ethereum lagging. High US Treasury yields, a firm dollar and tighter liquidity continue to cap risk appetite. On the four-hour chart, Bitcoin remains below key moving averages.

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