Macro optimism lifts crypto; Bitcoin nears $70,000; Ethereum regains $2,000

The cryptocurrency markets mounted a strong recovery over the past 24 hours, with price action pointing to a mix of structural accumulation and tactical short covering. Bitcoin rebounded firmly from the $62,000 demand zone and pushed back into the $68,000–$70,000 range, supported by $257 million in net inflows into spot Bitcoin ETFs, the largest since January.  The momentum, analysts said, was further accelerated by more than $400 million in short liquidations, adding fuel to the upside squeeze. 

Ethereum followed suit, reclaiming the $2,000 threshold as momentum broadened across the market. Strength spilled into the altcoin complex, where Cardano, Solana, BNB, XRP, and Hyperliquid advanced as much as 8 per cent. 

Macro optimism lifts crypto 

Analysts attributed the rebound to improving global risk appetite, strong macroeconomic data, and upbeat tech earnings. 

“Improving global risk appetite, stabilizing bond yields, and expectations of more accommodative financial conditions support liquidity-sensitive assets, including crypto,” said Riya Sehgal, research analyst at Delta Exchange.  READ | Crypto markets await clearer macro catalysts, says Bitget's CEO Gracy Chen 

Echoing similar sentiments, Akshat Siddhant, lead quant analyst at Mudrex, said, “Bullish developments like the Coinbase Bitcoin Premium Index flipping positive and over $257 million inflows into Bitcoin ETFs have boosted investor confidence. Strong macro data and upbeat tech earnings have also reinforced risk appetite.” 

Despite the recent gains, Siddhant noted that Friday’s $10.5 billion monthly BTC options expiry could determine the market’s next move. “A close above $73,500 would strengthen the case for a sustained uptrend, while $65,000 continues to act as a solid support base,” said Siddhant.

Key levels to watch

At last check, BTC was trading 3.78 per cent higher at $68,105.94, with a 24-hour trading volume of $51.76 billion, according to CoinMarketCap. During the session, it moved between $64,767 and $69,953. The asset remains 46 per cent below its all-time high of $126,198 reached on October 7, 2025. 

According to Sehgal, Bitcoin faces resistance between $69,000 and $72,900. A breakout above this range could push prices toward $74,000, while a rejection may trigger near-term consolidation or a pullback toward the $66,000 support level.  READ | Bitcoin correction calls for decisions based on risk, allocation, horizon 

Ethereum, meanwhile, defended the $1,800 demand zone and reclaimed $2,000. At last check, ETH was up 7.43 per cent at $2,049.59, with a 24-hour trading volume of $27.12 billion. The cryptocurrency traded between $1,878.85 and $2,145 during the period. 

For Ethereum, Sehgal said the $2,100–$2,220 range will act as the next resistance zone. 

However, she cautioned that the sustainability of the rally will depend on continued institutional inflows, macro stability, and the market’s ability to absorb overhead supply. “The structure points to market resilience, though confirmation above key resistance is needed for broader bullish continuation,” said Sehgal.