Crypto market trades mixed; Bitcoin near $92,800, Ethereum remains above $3,200

The crypto market traded mixed on Tuesday, with Bitcoin hovering near $92,500, while Ethereum remained above $3,200. The cryptocurrency and Ethereum were trading at $92,651 and $3,250 levels, respectively, on Wednesday.

In the past 24 hours, Bitcoin was down 1.08% whereas Ethereum was up 0.91% in the same period. Among the major altcoins, XRP, Dogecoin, Cardano fell over 2% in the past 24 hours whereas in the same time frame, BNB, Solana, Tron, and Hyperliquid gained over 3%.

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Avinash Shekhar, Co-Founder & CEO, Pi42 says Bitcoin’s ability to stay above the $90,000 to $92,000 band despite repeated intraday pullbacks signals that the market is absorbing supply rather than rolling over and the pause near $94,000 looks more like consolidation after a strong rally than a loss of trend.

Shekhar adds, “While momentum has cooled during Asia hours and some traders are booking profits, fresh capital returning to the crypto market is preventing deeper retracements. What is notable is that long term holders are not distributing aggressively, which keeps the broader structure intact.”

The global crypto market capitalisation went down 0.94% to $3.18 trillion, according to CoinMarketCap.

Riya Sehgal, Research Analyst, Delta Exchange believes that the crypto market traded mixed on Tuesday and regulatory focus intensified after Senator Tim Scott confirmed the Digital Asset Market Clarity Act will head to the U.S. Senate for markup next week as the bill, which aims to define the jurisdictional boundaries between the SEC and CFTC, could become the most significant U.S. crypto legislation to date.

Sehgal mentioned that overall, the market remains cautiously optimistic, consolidating ahead of regulatory clarity and Friday’s U.S. jobs data, which could influence risk sentiment across both traditional and digital assets.

In the past week, Bitcoin and Ethereum were up by 4.90% and 9.42% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid edged up by over 20% in the past week.

CoinSwitch Markets Desk says the move was largely driven by a liquidation flush, with around $180 million in futures positions wiped out by yesterday afternoon—mostly shorts—forcing buybacks as prices pushed above $91K and momentum carried higher.

Market perspective

Vikram Subburaj, CEO, Giottus

The latest pullback toward $92,000 reinforces the idea that this remains a range-bound market. Price has shown resilience above prior support, but repeated failure to hold above $95,000 indicates persistent supply. It seems the large passive sellers are absorbing upside attempts.

The broader macro backdrop is offering mixed signals. U.S. equities continue to grind higher, while gold and silver are making decisive new highs. This is drawing capital toward hard assets amid geopolitical uncertainty tied to Venezuela. Bitcoin has participated, but less convincingly, lagging metals even as ETF flows turned sharply positive at the start of 2026.

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Akshat Siddhant, Lead Quant Analyst, Mudrex: Order book data indicates close to $100 million in sell pressure at those levels, temporarily capping the recent recovery. However, the broader setup remains constructive

Nischal Shetty, Founder, WazirX

Bitcoin is likely to stay range-bound in the short term. Technicals show RSI hovering near neutral, indicating no strong momentum, while price continues to trade close to key short-term moving averages, suggesting consolidation. With macro signals largely priced in, near-term moves are driven more by positioning than fresh directional conviction.