While short-term positioning remains cautious, analysts believe institutional demand through spot ETFs is lending support to the upside
Despite the modest gains, sentiment around the short-term outlook, analysts said, remains cautious
The Altcoin Season Index rose to 67 from 29 last month, signaling stronger altcoin momentum that could potentially trigger an altseason soon.
The rally was supported by strong institutional and stablecoin inflows, helping Bitcoin maintain its gains, though altcoins showed mixed performance, according to analysts
According to a document reviewed by Reuters, the RBI reportedly believes that managing risks linked to cryptocurrencies through regulation would be difficult in India
Nearly 90 per cent of investors said they would increase their investments if government policies became clearer
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
Ashish Singhal, Co-founder of CoinSwitch, believes that India needs a balanced approach to the crypto markets-emphasizing smart regulation, robust security standards, and ongoing investor education
Meanwhile, roughly $300 million in crypto positions were liquidated over the past 24 hours, led by Ethereum at $97 million and Bitcoin at $54 million
Activity in the DeFi space also remained robust, with year-to-date lending volumes rising sharply, signaling deeper integration between traditional and blockchain-based finance, said analysts
Ethereum, on the other hand, is lagging slightly but sits at a key breakout point, holding $4,300 support and now retesting its descending trendline
Caution dominated trading activity, amplified by Wall Street's closure for the Labor Day holiday and concerns over a BTC whale potentially divesting another billion-dollar tranche of BTC
Analysts suggest the market may be gradually moving past recent sell-side pressure
Historical trends suggest September tends to be bearish during bull market years, prompting analysts to urge caution
The surge was further fuelled by strong inflows into US spot Ethereum ETFs and strategic buying by corporate treasuries
While bulls are attempting to trigger a recovery, analysts believe that bearish sentiment still dominates the broader crypto market
Ethereum (ETH) is showing early signs of short-term bullish momentum on the 1-hour timeframe, supported by a 20/50 EMA bullish crossover
Sixty per cent of respondents expressed positive sentiment towards crypto investments, while 20 per cent felt negative and another 20 per cent remained neutral
Bitcoin price today: The world's largest crypto-asset by market capitalisation rose as much as 1.27 per cent to $124,514.57 on Thursday
This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) access to alternative assets, aiming to improve returns and diversification