Also read | Technical investment funds appear to perform the worst across the entire horizon. Should Investors Buy More or Stay Invested?Global risk sentiment has weakened significantly over the past 24 hours, prompting a defensive stance on stocks and cryptocurrencies, according to Riya Sehgal, Research Analyst at Delta Exchange. Data on institutional flows emphasize continued caution. Continued outflows from spot Bitcoin ETFs have limited downside absorption, contrasting with renewed inflows into defensive asset classes.Over the past week, Bitcoin and Ethereum fell below 7.5% and 7.6% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano and Hyperliquid fell by more than 13%.
Bitcoin continues to consolidate around $64,000 after failing to regain the $65,000 mark, said Akshat Siddhant, chief quantitative analyst at Mudrex. According to CoinGlass, more than $508 million was liquidated in the past 24 hours as BTC tested the support zone near $63,000.
Siddhant further said that while accumulation trends among whales and listed companies continue, buying pressure is yet to impact price movement.Here’s what other analysts say
Vikram Subburaj, CEO of Giottus
Bitcoin remained within the range on Tuesday, trading in the mid-$64,000 zone. Digital assets lagged the broader risk markets, with crypto price action showing no decisive follow-through on either side. This reinforces the view that crypto is consolidating rather than trending.Also read | 9 equity funds deliver a return of more than 20% on fixed investments in 1 year. Do you have one?
Nischal Shetty, Founder, WazirX
Crypto derivatives platforms reported the most liquidations, with around $500 million in long positions liquidated amid geopolitical tensions in the Middle East and macro sentiment surrounding declining Bitcoin long positions.
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