Bitcoin traded close to 91300 dollars on Thursday as renewed buying interest and stronger market sentiment helped extend the ongoing recovery, the rebound followed a confident move above the 90000 dollar level and was supported by visible accumulation from large holders, Ethereum continued to remain steady around 3000 dollars with both assets showing signs of stabilising after recent volatility
According to the price tracker used widely across India Bitcoin hovered near 8150000 rupees while Ethereum remained around 271000 rupees, traders and analysts noted that the move back above key levels has revived confidence among both institutional and retail participants
Altcoins Rise As Broader Market Gains Strength
Altcoins joined the uptrend as improving sentiment pushed multiple tokens higher, Solana climbed over three percent reaching 143 dollars, XRP moved higher by a little over one percent trading around 221 dollars, Binance Coin rose nearly four percent touching 895 dollars, and Dogecoin added around two percent to trade near 15 cents, the broader market showed resilience with buying activity improving across several mid cap tokens
Analysts Point To Growing Accumulation And Technical Strength
Mudrex CEO Edul Patel said the latest bounce reflects stronger accumulation trends across the crypto market, he highlighted that Bitcoin reclaiming 91000 dollars was supported by fresh inflow from larger players, he also noted that wallets holding between ten thousand and one hundred thousand Ether absorbed nearly four hundred forty thousand ETH over the week indicating growing conviction among whales, Patel said a stronger push from retail buyers could open the path for a sustained breakout and possibly new highs
Delta Exchange Research Analyst Riya Sehgal pointed out that Bitcoin’s move aligns with key technical levels, she noted that a daily close above 92500 dollars could accelerate gains toward the 94500 to 95000 dollar range, she added that Ethereum is holding firm near the 3000 dollar zone supported by ninety six million dollars of ETF inflows and growing institutional interest as expectations rise for a potential Federal Reserve rate cut in December
The CoinSwitch Markets Desk also highlighted improving volumes and market structure, their team said Bitcoin ETFs have registered inflows on two of the last four days showing renewed institutional interest, they added that lower than expected US jobless claims combined with favourable producer price index data is creating a supportive macro backdrop that could help risk assets maintain momentum
What Comes Next For The Market
Sentiment in the crypto market has been improving steadily with accumulation ETF inflows and supportive macro indicators working together, if current momentum continues Bitcoin may attempt a move toward the 95000 dollar region, however any pullback below 89500 dollars could lead to temporary consolidation around the 87000 dollar area
Important Disclaimer
Cryptocurrency is an unregulated digital asset not recognised as legal tender and subject to significant market risks, the information in this article should not be taken as financial or investment advice and readers should exercise caution before making any investment decision
