Cryptocurrency markets experienced slight declines on Tuesday, with Bitcoin hovering near $108,209 and Ethereum around $2,554. Despite this dip, analysts maintain a bullish outlook, citing positive global cues and ongoing institutional interest reflected in ETF inflows. Market watchers are closely monitoring key support and resistance levels for potential breakouts or further corrections.
edged lower on Tuesday, with Bitcoin and major
altcoins seeing mild declines amid a mix of geopolitical developments, macroeconomic events, and ongoing institutional interest.As of 11:42 am IST, Bitcoin was trading 0.7% lower at $108,209, while Ethereum dropped 0.67% to $2,554, according to CoinMarketCap. The global crypto market capitalisation dipped 0.9% to $3.34 trillion.
Among notable altcoins, BNB, Solana, Tron, Dogecoin, Cardano, Sui, and Chainlink declined up to 3%. Hyperliquid was among the biggest losers, falling over 6% to $37.48.
Despite the subdued price action, analysts said underlying sentiment remains largely bullish, supported by improving global cues and sustained institutional activity.
“Bitcoin is holding firm near $108,000 as global sentiment improves following Trump’s decision to delay the tariff deadline to August 1st,” said Edul Patel, Co-founder and CEO of Mudrex. “Bitcoin futures have regained strength, with aggregated open interest rising 7% over the past month—marking the first sustained uptick since May.”
CoinSwitch’s Markets Desk noted that Bitcoin had briefly touched intraday highs near $109,572 before retreating, largely due to fresh macro and geopolitical headlines. “President Trump’s new tariffs on Japan and South Korea and the delay in trade deadline from July 9 to August 1 triggered some caution in the market,” the firm said in a note. Ethereum also eased from its high of $2,585 to around $2,535, though analysts pointed to continued optimism due to staking demand and ETF exposure.Sathvik Vishwanath, Co-founder and CEO of Unocoin, highlighted that Bitcoin's technicals remain strong. “RSI is near 55, and BTC is holding above key moving averages. Resistance lies at $109K–$110K, and if breached, we could see a rally toward $112K–$115K. On the downside, a drop below $107K may lead to a correction toward $105K.”Riya Sehgal, Research Analyst at Delta Exchange, flagged a corrective phase for Bitcoin. “BTC is facing rejection from the supply zone between $109,680 and $110,400 and is currently under pressure below $108,484. Support lies at $107,306. A breakdown could drag prices toward $105,220.”
On Ethereum, Sehgal noted support at $2,520 and resistance at $2,600. “A break below $2,500 could push ETH to $2,320, while a recovery above $2,600 opens the path to $2,720,” she added.
Despite the price consolidation, institutional investors appear to be accumulating digital assets. Spot Bitcoin ETFs saw inflows of $216.5 million as of July 7, while Ethereum ETFs attracted $62.1 million. Solana ETFs added $8.8 million.
“Semler Scientific acquired an additional 187 BTC, and Bit Digital reallocated fully into Ethereum, now holding over 100,000 ETH,” Sehgal said. “These flows reflect continued institutional confidence despite short-term volatility.”
Also Read: Crypto Gems: Top crypto assets to watch & buy in July 2025
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
