Crypto holds steady: BTC, ETH range-bound; investors eye US inflation data

Analysts suggest the muted price action reflects investor caution ahead of the upcoming US CPI release, which could influence the Fed's next policy decision

Cryptocurrency markets remained range-bound on Tuesday, with the flagship currencies Bitcoin (BTC) and Ethereum (ETH) struggling to break key resistance levels amid broader macroeconomic uncertainty. Analysts suggest the muted price action reflects investor caution ahead of the upcoming US Consumer Price Index (CPI) release, which could influence the Federal Reserve’s next policy decision on key interest rates.

Bitcoin faces resistance near $113k

Bitcoin briefly touched $112,869 but failed to maintain momentum above the $112,900 resistance level. At last check, BTC was trading at $111,972.85, up 0.92 per cent over the past 24 hours. The cryptocurrency moved within a narrow range of $110,906.93 to $112,869, according to data from CoinMarketCap.

 

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Bitcoin’s daily trading volume surged to $42.05 billion, while its market capitalisation held steady at $2.23 trillion, reinforcing its position as the world’s largest digital asset.

 

From a technical perspective, Bitcoin’s near-term price structure, Riya Sehgal, research analyst, Delta Exchange, said, remains constructive, with the 1-hour chart forming an ascending triangle and resistance building at $112,900.

 

"A breakout above this level could accelerate momentum toward the $114,000–115,000 zone, while higher lows keep the short-term bias bullish," said Sehgal.

Ethereum consolidates near $4,300

Ethereum continued to trade sideways, showing a similar lack of direction as Bitcoin. The second-largest cryptocurrency was last quoted at $4,313.22, reflecting a 0.44 per cent gain in the past 24 hours. Trading volume came in at $32.29 billion, with the price fluctuating between $4,277 and $4,381 during the session. Ethereum remains nearly 13 per cent below its recent peak of $4,953, recorded on August 25.

 

Sehgal highlighted that ETH is currently moving within a descending triangle pattern, with strong support near the $4,250 level.

 

"A breakout above the $4,350–4,380 range could lift sentiment, while a breakdown could open the door to further downside toward $4,150," said Sehgal.

Spot ETF flows

Institutional demand continues to lend support to Bitcoin’s market structure. Bitcoin spot exchange-traded funds (ETFs) saw $368 million in inflows recently, bringing total ETF assets under management to $145.4 billion. Analysts believe this robust institutional activity has played a significant role in supporting Bitcoin near critical resistance levels.

 

In contrast, Ethereum ETFs have come under pressure, recording approximately $97 million in outflows over the same period. Despite this, long-term strategic accumulation is ongoing. Blockchain infrastructure company BitMine now holds more than 2 million ETH, accounting for roughly 1.7 per cent of the total circulating supply. The firm has expressed intentions to increase its holdings to 5 per cent, signaling confidence in Ethereum’s long-term potential despite near-term volatility.

Macro outlook

The current hesitation in crypto relative to equities, according to Vugar Usi Zade, COO at Bitget, reflects a measured response to heightened macro uncertainty. Waning speculative positioning and put-skewed risk reversals point to investors prioritising downside protection ahead of the upcoming US CPI release. Equities have drawn strength from optimism over potential rate cuts and softer jobs data, yet crypto’s sharper sensitivity to liquidity flows and regulatory signals has encouraged restraint, preventing a premature rally that could quickly unwind in volatile conditions.

 

"This divergence underscores the asset class’s maturation. Market participants are increasingly balancing enthusiasm with fundamentals, creating a healthier ecosystem less prone to irrational surges. In the near term, crypto appears to be in a strategic holding pattern, waiting for clearer macro signals before resuming an upward trajectory. Once CPI clarity arrives, the space could see amplified upside relative to equities, driven by its growth-oriented profile and forward-looking positioning," said Zade.

 

Far from highlighting irreconcilable differences, this dynamic, Zade believes, shows how equities and crypto are responding in complementary ways—stocks as a gauge of economic health, and digital assets as a hedge against monetary policy shifts. "By demonstrating resilience in the face of macro headwinds, crypto continues to cement its role as a portfolio diversifier and a driver of long-term innovation."

Regulatory developments

On the regulatory development front, the US Securities and Exchange Commission (SEC) is scheduled to host a public roundtable on financial surveillance and privacy on October 17. Meanwhile, a bipartisan bill in Congress proposes that the US Treasury conduct a feasibility study on establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, including custody infrastructure for federally held digital assets.

 

Grayscale has filed an S-1 registration with the SEC for a Chainlink (LINK) ETF, signaling continued interest in expanding crypto-related financial products. Separately, MicroStrategy, led by Michael Saylor, added another 1,955 BTC to its corporate treasury, bringing its total holdings to 638,460 BTC, according to CoinDCX research.

Altcoins snapshot

In the broader altcoin space, MYX Finance (MYX) was the top performer of the day, registering a sharp 253 per cent rally, according to CoinMarketCap. Other notable gainers included Worldcoin (WLD), Pudgy Penguins (PENGU), Virtuals Protocol (VIRTUAL), Hyperliquid (HYPE), Render (RENDER), NEAR Protocol (NEAR), Optimism (OP), FLOKI (FLOKI), Injective (INJ), Arbitrum (ARB), and Theta Network (THETA), which rose by as much as 25 per cent.

 

On the downside, Four (FORM), Cronos (CRO), Quant (QNT), Bitcoin Cash (BCH), Kaspa (KAS), OKB (OKB), UNUS SED LEO (LEO), Litecoin (LTC), GateToken (GT), Sky (SKY), and Pi Network (PI) were the top laggards for the day, falling by up to 10 per cent.