Bitcoin holds steady above $85K as crypto market eyes next trigger

Top crypto coins, including Bitcoin (BTC), Ethereum (ETH), and XRP, remained flat in the past 24 hours as concerns around the US tariff are showing signs of subsiding, while Dogecoin (DOGE) and Solana fell 1.01% and 4.2%, respectively. Despite overall bullish sentiment towards Bitcoin, the hopes of breaking through the psychological $100,000 threshold remain alive, especially after resistance at the $85,000 mark, as investors wait for a catalyst to trigger the next rally.

The crypto market has experienced significant volatility, with $795 million in weekly outflows from crypto funds and Bitcoin recording its third-largest ETF outflows of 2025. Ethereum also remains under pressure and may plummet to about $1,400, indicating sustained investor conservatism.

Altcoins, on the other hand, have shown mixed trends. "Altcoins like Dogecoin and Shiba Inu have fluctuating trends based on market sentiment. While Trump's tariff reprieve has lifted traditional equities, it still hasn't ushered in sustained crypto gains. With ETH ETFs still retreating and institutional sentiment precarious, short-term volatility will persist, despite long-term faith in the underlying assets remaining firm," says Avinash Shekhar, Co-Founder & CEO of crypto futures exchange Pi42.

Experts say macroeconomic factors continue to favour the market, with both 10-year and 2-year treasury yields declining along with the dollar index. "This drop reduces the appeal of fixed-income assets, encouraging increased capital flow into risk-on assets like BTC. Meanwhile, institutional interest remains strong, with Strategy recently adding 3,459 BTC worth $285.8 million, bringing corporate holdings to 688,000 Bitcoins. For sustained upward momentum, BTC needs to break past the immediate resistance at $86,000, while support has strengthened at $83,000," says Edul Patel, Co-founder and CEO of Bengaluru-based crypto investment platform Mudrex.

Despite a staggering $795 million in outflows from crypto investment products last week and a broader $7.2 billion retreat since February, a 10% price surge in recent days has brought BTC above $85,000, says Riya Sehgal, Research Analyst, Delta Exchange, a digital asset derivatives trading platform. "This illustrates that investors continue to buy the dip, especially after Trump’s temporary tariff pause offered brief market relief."

Sehgal says while investors remain cautious about Bitcoin’s short-term direction, options data shows growing optimism for the longer term. "Institutional accumulation reinforces this trend: public companies increased their Bitcoin holdings by 16.1% in Q1, adding over 95,000 BTC, a clear sign of growing confidence in digital assets as macro hedges," she adds.

The broader 8% rise in crypto AUM last week, despite persistent outflows, signals that price momentum remains a key driver amid the noise. Analysts say the market is entering a consolidation phase, adopting a 'wait and see' posture as it digests geopolitical risk and central bank cues.

CoinSwitch Markets Desk, in its latest commentary, says the S&P 500 gained 0.8%, closing at 5,405.97, while the Nasdaq Composite gained 0.6%. Bitcoin's hovering near $85,000 reflects an increase in the index containing the top 20 cryptocurrencies, it adds. "Bitcoin's price action is constrained by the Ichimoku Cloud, creating an unfavorable risk-reward scenario for bullish traders. XRP surged nearly 13% in the past 7 days, reaching $2.14, driven by a rare bullish cross signaling a potential rally."

On the industrial front, Kraken, a leading cryptocurrency exchange, has announced the launch of commission-free trading for over 11,000 U.S.-listed stocks and ETFs. This expansion into traditional finance signifies a growing convergence between digital and conventional financial services.