Bitcoin holds near $81,200, Ethereum at $2,415 as institutional inflows cushion global market pressure

Bitcoin traded near the $81,200 mark, while Ethereum hovered around $2,415 on Thursday, despite a difficult session across global markets.

Over the past 24 hours, Bitcoin fell 2.66%, and Ethereum declined 5.42%. Among major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano corrected by up to 5.47%.

Nischal Shetty, Founder of WazirX, said Bitcoin traded near $81,000 while Ether held around $2,300, as fresh institutional inflows helped absorb some of the pressure from higher inflation, rising Treasury yields and weaker equities.


Shetty added that institutional demand remained resilient despite broader market caution. US spot Bitcoin ETFs attracted $175.62 million in inflows, while Ethereum ETFs recorded $24.84 million, ending a 10-session streak of withdrawals.

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The global crypto market capitalisation edged down 2.97% to $2.72 trillion, according to CoinMarketCap data.

Minal Thukral, Executive VP-Growth and Crypto Business Head at CoinDCX, said Bitcoin was facing significant selling pressure after entering a key support zone around $80,500. This had weighed on the broader market, while sentiment remained neutral. The crypto Fear and Greed Index had slipped to 48.

Over the past week, Bitcoin fell 2.09%, and Ethereum declined 7.29%. Among major altcoins, BNB, XRP, Solana, Tron, Dogecoin, Hyperliquid and Cardano corrected by up to 11.94%.

Riya Sehgal, Research Analyst at Delta Exchange, said crypto markets remained firmly risk-off, with the latest decline extending the weakness following the US consumer price index (CPI) data and developing into a significant liquidation of leveraged long positions.

According to CoinGlass, nearly $944 million worth of positions were liquidated over the past 24 hours. Around $487 million was liquidated in the latest one-hour window alone, highlighting the intensity of forced deleveraging, Sehgal added.

Market perspective

Avinash Shekhar, Co-Founder and CEO, Pi42: The latest sell-off in Bitcoin and other major cryptocurrencies highlights how strongly inflation data continues to influence market direction. For traders, the priority is to watch how Bitcoin responds around $82,000 and avoid excessive leverage during sharp price swings. A sustained recovery needs stronger price confirmation, while a breakdown could extend selling pressure.

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Prateek Gupta, Head of Business, Mudrex: Bitcoin has fallen 2% to around $81,500 after September inflation came in hotter than expected, with headline CPI at 3.7% against the 3.6% forecast and core inflation at 2.6%. On the positive side, spot Bitcoin ETFs attracted $175.6 million, their strongest inflow since October 2, despite weak retail sentiment. Markets will watch Warsh’s Friday remarks for further signals ahead of the Fed meeting.

CoinSwitch Markets Desk: BTC edged lower following the release of US September inflation data, with annual CPI rising to 3.7% from 3.4% in August. BTC's near-term direction will likely depend on how inflation trends evolve and the Fed’s policy signals in the coming weeks.

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