Bitcoin traded near Rs. 79.6 lakh on Tuesday as the cryptocurrency market faced renewed pressure from rising US Treasury yields, higher oil prices, and geopolitical tensions, even as strong institutional demand continued to provide support. Ethereum (ETH) was trading near Rs. 2.54 lakh, while major altcoins showed mixed momentum. Market participants said Bitcoin’s recent pullback from its September high reflects renewed risk aversion and profit-taking rather than a broader trend reversal, with spot Bitcoin ETF inflows remaining strong. According to CoinGecko data, Bitcoin traded near $83,900 (roughly Rs. 80.6 lakh), and Ethereum was trading near $2,700 (roughly Rs. 2.6 lakh).
The world’s largest cryptocurrency fell 0.3 percent in the last 24 hours, according to the Gadgets 360 price tracker. Analysts said Bitcoin has pulled back from its September 21 high of $86,600 (roughly Rs. 83.2 lakh) as renewed US-Iran tensions, oil prices and elevated Treasury yields weigh on risk appetite. However, institutional demand remains supportive, with US spot Bitcoin ETFs recording $2.45 billion (roughly Rs. 23,545 crore) in net inflows last week.
Major Altcoins Traded With Mixed Momentum on Tuesday
Binance Coin (BNB) was priced around $767 (roughly Rs. 73,600), while Solana (SOL) traded near $119 (roughly Rs. 11,400). XRP hovered around $1.50 (roughly Rs. 144), while Dogecoin (DOGE) traded near $0.094 (roughly Rs. 8.6).
Geopolitical Risks Keep Bitcoin Recovery Under Pressure
Highlighting the strength of institutional demand despite renewed geopolitical risks, the CoinSwitch Markets Desk said, “Crude prices above $100 (roughly Rs. 9,600) amid renewed US-Iran tensions are keeping risk appetite measured, but spot Bitcoin ETFs recorded $2.45 billion (roughly Rs. 23,545 crore) in net inflows last week, their strongest run since October 2025, providing a meaningful counterweight.”
Pointing to renewed geopolitical pressure and corporate Bitcoin accumulation, Prateek Gupta, Head of Business, Mudrex, said, “The pullback appears driven by risk aversion and profit-taking rather than a broader trend reversal. Still, downside risk is elevated, with Binance showing $4.35 billion (roughly Rs. 41,804 crore) in long positions below current prices versus $1.65 billion (roughly Rs. 15,857 crore) in shorts above. Corporate demand remains supportive, with Strategy adding 1,665 BTC and Strive 1,107 BTC. Markets now await US consumer confidence and job openings data, with October Fed hike odds at 64-70 percent.”
Commenting on Bitcoin’s consolidation and the impact of elevated Treasury yields, Vikram Subburaj, CEO of Giottus.com, said, “The broader crypto market is also seeing some cooling in large-cap altcoins. With the 10-year Treasury yield above 5.25 percent and key US inflation and employment data ahead, volatility could remain elevated. Investors should avoid chasing short-term moves and watch the 82,000-83,000 (roughly Rs. 78.80 lakh-Rs. 79.81 lakh) support zone closely. ETF flows remain constructive, but macro data and yields could drive the next major move.”
Overall, analysts said higher futures positioning, shifting rate expectations and upcoming US economic data could keep volatility elevated. Bitcoin’s $82,000-$83,000 (roughly Rs. 78.8 lakh-Rs. 79.8 lakh) support zone remains important, while $84,000-$85,000 (roughly Rs. 80.7 lakh-Rs. 81.7 lakh) is the immediate resistance area.
