Bitcoin trades near $64K; key support seen at $63,800-$64,000 amid Fed uncertainty

Bitcoin was trading near the $64,000 mark on Friday and was broadly unchanged over the past 24 hours, as investors balanced softer US inflation data against the Federal Reserve’s still-hawkish policy stance. The cryptocurrency was last trading at $63,940.

Over the past 24 hours, Bitcoin and Ethereum were down 0.10% and 0.93%, respectively. Among the major altcoins, XRP, Solana and Dogecoin fell less than 1%, while BNB, Tron, Hyperliquid and Cardano gained up to 3.22%.

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Vikram Subburaj, CEO of Giottus, said the immediate support for Bitcoin lies in the $63,800–$64,000 range, followed by a stronger on-chain demand zone near $63,000. Resistance is seen around $65,300–$65,500, with the recent local high of $66,700 emerging as the next key hurdle.

Investors should avoid chasing short-term moves, he said. Instead, staggered accumulation, limited leverage and disciplined position sizing remain preferable until Bitcoin sustains a move above $65,500 and ETF demand improves consistently.

The global cryptocurrency market capitalisation rose 0.14% to $2.19 trillion, according to CoinMarketCap.

Avinash Shekhar, Co-Founder and CEO of Pi42, said Bitcoin is trading around $64,000, reflecting a market that is balancing macroeconomic uncertainty with resilient institutional participation. Despite near-term volatility, Bitcoin continues to find support from steady institutional interest, growing futures activity and sustained participation across the broader digital asset ecosystem. Meanwhile, XRP is approaching a key resistance zone, and a decisive breakout above these levels could improve sentiment across select altcoins.

Rather than chasing short-term price swings, investors should focus on fundamentally strong digital assets, disciplined capital allocation and staggered accumulation during periods of consolidation, he added.

Over the past week, Bitcoin and Ethereum were down 2.37% and 0.47%, respectively. Among the major altcoins, XRP, Solana, Tron, Hyperliquid and Dogecoin corrected by up to 6.22%, while BNB and Cardano gained 3.54% and 0.67%, respectively.

Nischal Shetty, founder of WazirX, said the crypto market continues to trade under the influence of global macroeconomic sentiment. While digital assets remain fundamentally resilient, recent price action reflects a broader risk-off environment across financial markets as investors assess the outlook for interest rates, inflation and global liquidity.

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On the flip side, approximately $144.63 million in long positions were liquidated during the recent pullback. Investor sentiment remains cautious, with the Crypto Fear & Greed Index at 34, firmly in the Fear zone, Shetty added.

Market perspective

Piyush Walke, Derivatives Research Analyst, Delta Exchange

Bitcoin traded near the $64,000 mark on Thursday, slipping slightly even as US stock futures advanced following strong earnings from Microsoft, which reassured investors that heavy investments in artificial intelligence are beginning to deliver returns.

From a technical perspective, Bitcoin briefly climbed above the $65,000 mark but failed to sustain the breakout. A four-hour close above the $64,700–$65,000 zone is needed to confirm renewed bullish momentum.

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