Bitcoin trades near $76,700, Ethereum near $2,090 as traders remain defensive, rebound from recent lows

Bitcoin traded near the $76,700 mark and Ethereum near the $2,090 mark on Tuesday as traders remained defensive and rebounded from the recent lows. The cryptocurrencies were trading at $76,706 and $2,093 mark respectively. In the past 24 hours, Bitcoin and Ethereum fell less than 1%. Among the major altcoins, XRP, Solana, Dogecoin, Hyperliquid and Cardano corrected up to 4% whereas BNB and Tron were up 0.02% and 3% respectively. Also Read | Mutual funds cut exposure to private banks for 2nd straight month in April. Is banking sector under pressure? Crypto markets are witnessing a cautious consolidation phase after last week's sharp corrective move and both assets attempted short-term recovery bounces from recent lows, but upside momentum continues to face resistance as traders remain defensive, said Riya Sehgal, Research Analyst, Delta Exchange. Sehgal added that broader sentiment also reflects caution, with the Fear & Greed Index holding near 39, signaling persistent risk aversion despite improving speculative participation in futures markets. The global crypto market capitalisation edged down 0.3% to $2.56 trillion, according to CoinMarketCap. Bitcoin dropped back to $76,600 as selling pressure intensified across the market, said CoinDCX Research Team. Avinash Shekhar, Co-Founder & CEO, Pi42 said the crypto market is witnessing a phase of consolidation as Bitcoin and Ethereum trade within a narrow range, while XRP continues to see selective buying interest. For investors, this remains a market where disciplined allocation and patience matter more than chasing momentum. Instead of reacting to every sharp move, investors should focus on staggered accumulation, maintain balanced exposure across fundamentally strong assets, and keep an eye on liquidity trends in the derivatives market, which continues to influence overall crypto price action, Shekhar further said. In the past week, Bitcoin and Ethereum were down 0.2% and 2% respectively. Among the major altcoins, XRP, Solana, Dogecoin and Cardano fell upto 4.46% whereas BNB, Tron, Hyperliquid gained up to 23%. CoinSwitch Markets Desk said Bitcoin is trying to recover after defending the $77K support area, but the move still looks like a rebound rather than a confirmed breakout; US spot Bitcoin ETFs reportedly saw over $1.74B in outflows across two weeks, while rising inflows into major exchanges and activity from 6-12 month holders suggest some profit-taking. Also Read | Explained: What are REITs and how do they work? Here's what investors should know Bitcoin remained trapped below the psychologically important $80,000 mark as institutional risk appetite stayed weak despite a temporary easing in geopolitical stress. Bitcoin traded near $76,546, with technical indicators showing cautious momentum even as the broader market structure remained stable. On the institutional side, the SEC approved Nasdaq's proposal for cash-settled Bitcoin index options, while reports also highlighted a crypto-backed mortgage framework that could allow Bitcoin to be used as collateral. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.