Bitcoin near $83,900, Ethereum around $2,680 as crypto markets consolidate: Here is what experts say
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ReutersBitcoin at $83.9k, Ethereum at $2.6k in consolidation phase
In the past 24 hours, Bitcoin and Ethereum were up 1.37% and 2.36% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano gained up to 3.56%, whereas Hyperliquid was down 1.06%.
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He further said, "For Bitcoin, the $82,000-$83,000 zone remains an important near-term support area, while a move back above $85,000 could help restore momentum towards the recent highs."
The global crypto market capitalisation was up 1.08% to $2.87 trillion, according to data on CoinMarketCap.
CoinSwitch Markets Desk said BTC is consolidating around $83K as investors reassess risk amid higher oil prices, with crude holding above $100 on renewed US-Iran tensions. Institutional demand remains robust, with spot Bitcoin ETFs drawing $2.45 billion in net inflows last week, their strongest run since October 2025.
Over the last week, Bitcoin and Ethereum were down 2.34% and 1.20% respectively. Among the major altcoins, BNB, XRP, Tron, Hyperliquid, and Dogecoin corrected up to 7%, whereas Solana and Cardano were up 1.99% and 2% respectively.
Prateek Gupta, Head of Business, Mudrex said Bitcoin is consolidating around $83,000 after giving back much of last week's breakout above $86,000, as renewed US-Iran tensions pushed oil toward $108/barrel and Treasury yields to their highest since 2007.
Gupta further said that the move looks more like risk-off pressure and profit-taking than a fundamental reversal. However, liquidation risks are rising, with Binance showing $4.35 billion in long positions below current levels versus $1.65 billion in shorts above.
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Market perspective
Nischal Shetty, Founder, WazirX: Bitcoin trades near $83,022 in a short-term pullback within a constructive daily structure. Immediate support lies around $81,700-$82,000, while $83,200-$83,500 forms resistance. Holding support could stabilise momentum; reclaiming resistance may restore buyer control, whereas a breakdown would shift attention toward the secondary $80,900-$81,200 support region during the next trading session.
Harish Vatnani, Head of Trade, ZebPay: ETH is consolidating within a short-term descending channel after rejecting near $2,800. Price is repeatedly facing resistance at the descending trendline, while $2,580 acts as the key support zone.
Riya Sehgal, Research Analyst, Delta Exchange: Overall, the market is seeing volatility and repeated rebounds and rejections, but the move remains closer to macro-driven deleveraging and consolidation than a broad sell-off.