10 hrs ago
Markets Seen Opening Flat as Global Risk Appetite Weakens
Stock markets around the world became more cautious.
US shares fell, and some Asian markets also declined.
India’s Sensex stayed almost unchanged.
Bitcoin, Ethereum and Filecoin were trading near important price levels where buyers and sellers may become more active.
Investors received some support from strong money flows into US Bitcoin and Ethereum funds.
However, higher oil prices, inflation and bond yields may make borrowing and investing more expensive.
Bitcoin remained broadly stable despite the weaker stock market.
Analysts said crypto prices could rise if they move above resistance levels and trading activity strengthens.
Prices could weaken if they fall below nearby support levels.
Global markets weakened, with the Nasdaq down 1.03% and Asian pressure focused on the KOSPI and Nikkei 225.
The Sensex and Singapore market were nearly flat, while the VIX rose to 16.34 and oil gained 1.76%.
US spot Bitcoin ETFs recorded about $924.5 million in weekly net inflows, while Ethereum ETFs attracted roughly $815.7 million.
Bitcoin traded near $76,921, Ethereum near $2,395 and Filecoin near $0.767, with each facing nearby technical support and resistance levels.
Higher oil prices, multiyear bond yields, inflation and rate expectations could limit crypto momentum despite continued institutional demand.
- Who
- Investors, global stock markets, cryptocurrency traders and institutional buyers, with commentary from Nischal Shetty of WazirX.
- What
- Markets were expected to open broadly flat as global risk appetite weakened, while Bitcoin, Ethereum and Filecoin remained under technical review.
- Where
- Global markets, including the United States, Europe, Asia and India.
- When
- The latest reported market session and the previous week; no calendar date was specified.
- Why
- Investors were balancing strong cryptocurrency ETF inflows against weaker equities, higher oil prices, rising inflation and elevated bond yields.
Supportive Factors
Restraining Factors
Crypto momentum
Supportive Factors
Economic expansion, India’s PMI remaining above 50 and strong institutional ETF inflows could support Bitcoin and Ethereum participation.
Restraining Factors
Higher oil prices, elevated bond yields, rate expectations, profit-taking and broader market selling could restrain price momentum.
Bitcoin outlook
Supportive Factors
Bitcoin’s broader structure remained constructive, and reclaiming the $77,100-$77,300 resistance zone could restore buyer control.
Restraining Factors
A fall below the $76,300-$76,600 support zone could expose the secondary $74,500-$74,600 area.
Ethereum outlook
Supportive Factors
Holding the $2,370-$2,390 support region could stabilize Ethereum’s setup.
Restraining Factors
Futures traders may require stronger volume, open interest and balanced funding before confirming renewed momentum.
Key facts
- Bitcoin price
- About $76,921; support at $76,300-$76,600 and resistance at $77,100-$77,300.
- Ethereum price
- About $2,395; support at $2,370-$2,390 and resistance at $2,410-$2,455.
- Filecoin price
- About $0.767; support at $0.735-$0.740 and resistance at $0.774-$0.780.
- Bitcoin ETF inflows
- US spot Bitcoin ETFs recorded about $924.5 million in net inflows last week.
- Ethereum ETF inflows
- Ethereum ETFs attracted roughly $815.7 million in net inflows last week.
- Market volatility
- The VIX rose to 16.34 but remained within a moderate range.
- Global commodities
- Gold fell 0.98%, while oil gained 1.76%; WTI was also reported to have gained 5.2%.
Quotes
Nischal Shetty
Founder of WazirX
“US manufacturing PMI remained expansionary at 54.6, although slower orders and employment signaled moderating momentum.”
NDTV
Sources
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