Bitcoin holds near ₹80.4L after leverage reset and ETF inflows
Bitcoin is holding steady around ₹80.4 lakh this Friday, after a recent dip from its high of ₹83.4 lakh, analysts call it a "leverage reset" following the latest rally.
Even with a small 0.2% drop in the past day and about $80 million in long positions wiped out, demand is still solid thanks to steady inflows into spot Bitcoin ETFs and big players quietly stacking up more coins.
Meanwhile, Ethereum and other altcoins are having a mixed week.
US yields and options pressure crypto
Rising US Treasury yields and talk of higher interest rates are making things bumpy for crypto right now, especially with the September 25 options expiry coming up soon.
Experts suggest going easy on leverage until things calm down a bit.
For now, Bitcoin's got support between ₹76.7-₹78.6 lakh, but it needs to break above ₹82.4 lakh-₹83.7 lakh to really show signs of bouncing back in this tricky market climate.