Bitcoin recovers 12% from last week’s low of $80,000 to trade at $90,000 amid mixed US economic signals

The crypto market traded sideways as Bitcoin recovered nearly 12% from last week’s low of $80,000, stabilizing around $90,688 on Saturday, amid signs of slowing economic momentum in the US. In the past 24 hours, Bitcoin fell 0.55% and Ethereum fell 0.29% to $3,008. Among the major altcoins, XRP, BNB, Solana, Dogecoin and Cardano fell more than 2%, while Tron and Hyperliquid rose 3%. The global cryptocurrency market cap fell slightly by 0.25% to $3.09 trillion, per CoinMarketCap.

Also read | Can Rs 500 SIP at age 16 help build a future business fund? Expert share best investment strategyRiya Sehgal, research analyst at Delta Exchange, said the crypto market remains subdued as macro signals turn mixed and U.S. labor data shows further cooling, unemployment rises to mid-4% and job growth slows, signaling softer economic momentum. While this weighs on risk sentiment, it also fuels expectations of Fed rate cuts in 2025, keeping liquidity hopes alive. Bitcoin has recovered more than 12% from last week’s low of $80,000, but now faces major resistance between $93,000 and $96,000, where previous supply clusters were,” Sehgal said.

Sehgal added that the overall sentiment remains cautious. Traders look to macro data and key technical levels for confirmation of trend direction. Momentum remains fragile, but opportunistic buying persists. Over the past week, Bitcoin and Ethereum rose 7.65% and 9.99% respectively. Of the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano and Hyperliquid have risen by more than 12% in the past week. WazirX Trading Desk said India’s GDP growth of 8.2% is indicative of a positive macro environment, which generally indicates improved investor risk sentiment. While it may not immediately trigger a huge surge in price movements, but can work on the overall sentiment, the investment pattern of Indian investors has been steady rather than impulsive.“A near-term price increase could reflect reduced confidence in what appears to be a bleak future for countries like the US and Britain. This could potentially indicate the likelihood that some countries will experience volatility with their national currencies, and will inevitably turn to Bitcoin.”

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“There are reports of small inflows into BTC and ETH ETF of around 100 million+ USD and 75 million+ USD respectively, after two weeks of outflows deflated the market. But this creates even more uncertainty, with institutions selling their assets in large numbers and HNI retail users showing large buying activity, creating a unique tug-of-war of market sentiment and the path forward,” WazirX Trading Desk added.