Bitcoin hovered near the $75,000 mark on Thursday, signalling a phase of consolidation as the world’s largest cryptocurrency struggled to sustain momentum above a key resistance level, according to market
experts.
Bitcoin faces resistance near $75,000
Bitcoin has been moving in a narrow band, with repeated attempts to break above $75,000 failing to hold. Avinash Shekhar, co-founder & CEO of Pi42, said the current price action reflects consolidation rather than a decisive breakout.
“Bitcoin’s movement around the $75,000 mark signals a phase of consolidation rather than a clear breakout, with prices struggling to sustain momentum above this level despite supportive global cues and easing geopolitical tensions,” he said.
He added that the broader crypto market remains range-bound, with Ethereum, XRP and Dogecoin also trading sideways, indicating a wait-and-watch approach among investors.
Market awaits stronger trigger
According to the CoinSwitch Markets Desk, Bitcoin recently climbed close to $76,000 before slipping back to around $73,900 as resistance held firm.
“BTC followed a familiar pattern overnight, climbing close to $76K before slipping back to $73,900 as strong resistance held once again. The move looked promising but lacked the strength to break through. Still, the overall setup remains positive,” the desk said.
It added that funding rates have remained negative for 46 days, “meaning many traders are positioning against BTC, which can fuel a sharp rally if prices rise”. Bitcoin dominance remains steady at 58.5%, reinforcing its leadership in the crypto market.
Institutional signals and accumulation trends
The markets desk at WazirX highlighted that Bitcoin continues to trade above key moving averages, indicating steady accumulation.
“Bitcoin is trading near $75,000, sustaining a firm uptrend above key moving averages, with momentum indicating continued accumulation and healthy positioning,” it said.
Institutional interest also remains visible. Stablecoin issuer Tether has reportedly accumulated around $70 million worth of Bitcoin, taking its total holdings beyond 97,000 BTC, signalling long-term conviction.
Ethereum ecosystem developments in focus
On the infrastructure side, developments within Ethereum are also drawing attention. A reported $3 billion partnership between ETHGas and ether.fi aims to improve blockspace efficiency through predictable pricing and guaranteed execution, potentially boosting institutional adoption.
Meanwhile, activity across segments remains robust. Metaverse tokens such as Decentraland and The Sandbox have seen increased traction, while Layer-2 tokens like Arbitrum and Immutable are also gaining momentum.
Strategy: ‘Stay disciplined, avoid chasing rallies’
Experts advise caution in the current environment. Shekhar said investors should avoid chasing price spikes near resistance levels and instead focus on disciplined allocation.
Gradual exposure through staggered buying can help navigate sideways markets more effectively, while excessive leverage and reactionary trading based on headlines should be avoided.
“For investors, this is a time to stay disciplined and avoid chasing price spikes near resistance levels. Gradual allocation through staggered buying can help build exposure more efficiently, especially during periods of sideways movement. It is equally important to steer clear of excessive leverage and short-term reactions driven by headlines, as the market is currently driven by a mix of sentiment and capital flows. A patient approach with a focus on long-term participation is likely to be more effective as Bitcoin stabilises and sets up for its next move,” Pi42’s Avinash Shekhar said.
