Bitcoin Dips Below $87,000 as Market Sentiment Weakens
Bitcoin (BTC), the pioneering cryptocurrency, fell below the $87,000 threshold early Friday, continuing its decline. Notable altcoins such as Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) also faced losses, reflecting a broader negative trend in the market. The Market Fear & Greed Index, a gauge of investor sentiment, registered a score of 33 (indicating Fear) out of a possible 100, according to information from CoinMarketCap. Among the tokens, EOS (EOS) emerged as the top performer with a nearly 15 percent increase within 24 hours, while Jupiter (JUP) recorded the steepest decline, losing over 10 percent.
Current Market Capitalization and Bitcoin’s Value
As of the latest update, the total market capitalization of the cryptocurrency sector reached $2.69 trillion, showing a 24-hour increase of 1.47 percent. The price of Bitcoin was noted at $83,075.15, reflecting a modest gain of 1.23 percent during the same period. In Indian markets, BTC was valued at approximately Rs 71.15 lakh.
Ethereum and Other Altcoin Prices
Ethereum (ETH) was priced at $1,842.28, marking a 1.66 percent increase in the last 24 hours. In India, Ethereum’s price was around Rs 1.58 lakh. Meanwhile, Dogecoin (DOGE) witnessed a 1.67 percent rise, trading at $0.1692, equivalent to Rs 14.46 in India. Litecoin (LTC) experienced a downturn of 1.43 percent, currently valued at $84.32, or Rs 7,210.99 in the Indian market. Ripple (XRP) showed a slight gain, priced at $2.10 with a 0.20 percent increase, while Solana (SOL) stood at $126.32, reflecting a 0.37 percent rise.
Top Crypto Gainers and Losers
In the last 24 hours, the following cryptocurrencies have performed well, according to CoinMarketCap: EOS (EOS) with a price of $0.6762 and a gain of 14.50 percent; Curve DAO Token (CRV) at $0.5281, gaining 13.22 percent; Hypeliquid (HYPE) at $13.76, up by 10.70 percent; Toncoin (TON) valued at $4.14, rising by 6.23 percent; and Jito (JTO) at $2.33, with a gain of 5.64 percent. Conversely, the biggest losers included Jupiter (JUP) at $0.4306, down 10.21 percent; Celestia (TIA) at $3.11, falling 4.02 percent; Helium (HNT) at $3.04, down 3.49 percent; XDC Network (XDC) at $0.0678, declining 2.65 percent; and Ethena (ENA) at $0.3509, down 1.79 percent.
Expert Insights on Market Dynamics
Edul Patel, co-founder and CEO of Mudrex, remarked that Bitcoin is showing signs of strength around the $83,000 mark, boosted by heightened institutional interest. The recent $1.9 billion Bitcoin acquisition by Strategy—its second-largest purchase in 2025—indicates renewed confidence in the cryptocurrency. Furthermore, data from Santiment revealed that over 30,000 BTC were withdrawn from exchanges within a week, signaling accumulation by long-term investors, which could alleviate selling pressure and support a trend reversal. Additionally, the Trump family’s increasing involvement in the crypto sector, particularly with investments in a Bitcoin mining firm, is enhancing investor optimism. Currently, Bitcoin faces immediate resistance at $84,300, while support is noted at $80,900.
Market Observations from CoinSwitch
CoinSwitch Markets Desk observed that Bitcoin encountered fluctuations throughout the day, peaking at approximately $83,800 and dropping to around $81,300, currently trading at $82,500. The S&P 500 Index saw a rise of 0.6%, closing at 5,611.85, despite a challenging first quarter characterized by a 4.6% decline. Notably, Strategy has now accumulated a total of 528,185 BTC after purchasing an additional 22,048 BTC, primarily funded through common stock issuance, underscoring the company’s commitment to its Bitcoin acquisition strategy.
Concerns Over Bitcoin’s Short-Term Stability
Avinash Shekhar, Co-founder & CEO of Pi42, highlighted significant outflows from Bitcoin totaling $630 million, raising concerns about short-term price stability. He noted, however, that a price point of $80,000 for BTC still presents a discount, indicating potential for long-term bullish movement. Despite recent profit-taking, institutional demand for Bitcoin ETFs remains strong, contributing to a decline in exchange reserves and fostering a holding sentiment. Nonetheless, there are apprehensions that Dogecoin may face a significant downturn, with a 30-40% risk of collapse amid broader market uncertainties.
Optimism in the Cryptocurrency Space
Shivam Thakral, CEO of BuyUcoin, expressed optimism as the new financial year begins, with Bitcoin stabilizing around $83,400 and Ethereum showing resilience at $2,053. Recent regulatory clarifications and positive developments from the SEC regarding Ripple could lead to increased institutional involvement. Historical trends suggest that April could offer substantial gains, and the year 2025 is anticipated to bring transformative growth opportunities in the cryptocurrency market.
Volatility and Market Sentiment
The CoinDCX Research Team noted rising volatility in the cryptocurrency market, with tokens experiencing significant bullish and bearish pressures. Bitcoin has managed to recover above $83,000, while Ethereum is above $1,800, temporarily delaying a potential plunge to critical support levels. Although the global market capitalization struggles to surpass $2.7 trillion, a notable increase of over 46% in trading volume reflects a strong bullish presence. Despite the upward movement, market sentiment remains rooted in fear, raising concerns about the sustainability of the current upswing.
Disclaimer: Crypto assets and NFTs are not regulated and carry significant risk. There may be no regulatory recourse for losses from such transactions. Cryptocurrency is not recognized as legal tender and is subject to market fluctuations. Readers are encouraged to seek expert advice and thoroughly review relevant documents before making any investment decisions. Predictions regarding cryptocurrency markets are speculative, and any investments made are at the reader’s own risk.
