Bitcoin shows resilience, ETH eyes $5k on options expiry; Cronos outshines

Cryptocurrency markets showed early signs of recovery following recent setbacks, with Bitcoin (BTC) leading the rally after crossing the $112,000 mark. The surge lifted overall market sentiment, while Ethereum (ETH) also rose above $4,500. Mild optimism extended across the altcoin space, with Cronos emerging as the top gainer after soaring more than 60 per cent.  Analysts suggest the market may be gradually moving past recent sell-side pressure, though upcoming macroeconomic data, including US jobless claims and GDP figures due later today, could influence market direction.

Bitcoin price steady above $112,000

At last check, Bitcoin was trading at approximately $112,760.94, up 1.33 percent over the past 24 hours. Its 24-hour trading volume stood at $4.93 billion, while the market capitalisation reached $2.24 trillion, the highest among all cryptocurrencies. Bitcoin traded within a range of $110,398 to $113,123 during the last 24 hours, according to CoinMarketCap.  Despite the recovery, BTC remains over 9 per cent below its recent peak of $113,123, which it reached on August 14.

On-chain data signals growing investor confidence

The flagship currency, Edul Patel, Co-founder and CEO of Mudrex, said, is showing resilience as on-chain data turns favorable.  He noted that for the first time in 10 days, exchanges recorded net outflows of 192 BTC, signaling that investors are inclined to hold their assets rather than sell, reducing short-term selling pressure. According to Patel, "a breakout above $113,100 could accelerate momentum toward $115,000, while immediate support is seen at $111,000."

Macroeconomic tensions affect market sentiment

Macroeconomic developments are also shaping investor sentiment. Notably, political tensions have increased after US President Donald Trump attempted to remove Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank. As a result, US Treasurys and the dollar have come under pressure, prompting investors to turn to traditional safe-haven assets such as gold, which has gained 30 per cent year to date. 

 

That said, US Federal Reserve Chair Jerome Powell, however, has acknowledged the inflationary impact of rising tariffs and hinted at possible rate cuts. He pointed to signs of economic weakness, including slowing job growth. According to analysts at CoinSwitch Markets Desk, this dovish tone has supported risk assets including cryptocurrencies, as markets increasingly anticipate a more accommodative monetary policy stance.

Institutional interest favors Ethereum

Further, institutional interest has continued to lean toward Ethereum, the second-largest cryptocurrency by market capitalisation.  Ethereum spot ETFs attracted a record $455 million in net inflows, marking the second time this week that ETH ETFs outpaced their Bitcoin counterparts. BlackRock’s ETHA led with $323 million in inflows, followed by Fidelity’s FETH with $85 million. By comparison, Bitcoin ETFs saw more modest inflows totaling approximately $92 million, equivalent to around 827 BTC, according to the CoinDCX Research Team.

 

Ethereum continues to hold near the higher end of its range. At last check, ETH was trading at $4,567.48, down 0.56 percent over the previous 24 hours, with a trading volume of $42.82 billion. ETH fluctuated between $4,470 and $4,659 during the period. Analysts expect the expiration of $5 billion in ETH options this Friday to potentially push prices toward the $5,000 mark.

Altcoins show mixed but positive momentum

Market sentiment among other cryptocurrencies was broadly positive. Solana rose above $208, while Dogecoin climbed above $0.20. XRP and Cardano continued to trade below their respective resistance levels of $3 and $0.90. Cronos was the day’s top performer with a gain of over 60 per cent, followed by Kaia with a rise of more than 11 per cent,  according to the data complied by CoinDCX Research Team.   Raydium and Jito both recorded increases of over 7 per cent. On the downside, Morpho declined 7.5 per cent, while Aerodrome Finance, Hyperliquid, and OKB each fell by more than 4 per cent.