Bitcoin traded marginally lower on Thursday, down 1.2% at $92,413, while Ethereum slipped 0.8% to $1,766. Despite the dip, Bitcoin remains near recent highs after a strong 12% rally this week.
“Bitcoin is holding steady around the $92,500 level, following a 12% rally this week,” said Edul Patel, Co-founder and CEO of Mudrex. “The broader market saw over $624 million in liquidations in the last 24 hours, with $545 million from short positions, easing downward pressure and helping BTC stabilise.”
Patel added that the rally is largely driven by institutional interest. “Bitcoin spot ETFs saw net inflows of over $700 million, pushing weekly inflows past $1 billion. This has been a key catalyst,” he said.
"Looking ahead, US jobless claims data due later today could influence short-term sentiment. Bitcoin now faces resistance at $96,300, with immediate support at $91,700," Patel added.
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Looking ahead, Patel noted that US jobless claims data due later in the day could sway short-term sentiment. “BTC faces resistance at $96,300 and has immediate support at $91,700,” he added.
Sathvik Vishwanath, Co-founder & CEO of Unocoin, said Bitcoin’s current level around $92,400 is acting as a psychological floor, supported by fresh institutional inflows and shrinking exchange reserves—signs of accumulation
