Bitcoin holds near $63,500 after upbeat US data, Ethereum struggles
Bitcoin is holding steady around $63,500 (about ₹60.76 lakh) after some upbeat US economic news boosted market mood.
Still, gains are limited because demand isn't strong and big investors are a bit hesitant.
Ethereum is also having a tough time, trading at $1,854 (roughly ₹1.78 lakh).
Bitcoin needs ETF and spot demand
Altcoins like Binance Coin ($589.14) and Solana ($73.66) saw some selective buying, but analysts say Bitcoin needs more action from ETFs and spot buyers to really break past $64,100.
Vikram Subburaj, CEO, Giottus.com, said, "Markets are focused on US job openings and Friday's employment report, which could influence expectations for a September Federal Reserve rate increase [...] Investors should avoid chasing short-term gains. Staggered buying, limited leverage and disciplined position sizing remain prudent until Bitcoin clears $64,100 (roughly ₹61.11 lakh) with stronger ETF and spot demand."
Institutional interest in Bitcoin ETFs remains steady for now, but everyone's watching upcoming US job data to see where things go next.