Cryptocurrency rates today: Bitcoin steadies above $112k after brief dip; Ethereum edges up 0.6% amid cautious trade

Bitcoin moved up to $112,493 following a brief fall under $110,000 on Wednesday, indicating careful market behaviour. Ethereum was trading at approximately $4,119, showing a 0.59% increase.At 10.26 am IST, Ethereum registered a 0.59% gain at $4,118. Several prominent cryptocurrencies including BNB, XRP, Dogecoin, Tron, Cardano, and Hyperliquid declined by over 3%, while Solana increased by 0.79%. The total cryptocurrency market value decreased by 1.2% to $3.83 trillion, as reported by CoinMarketCap.CoinDCX Research notes that investors appear somewhat negative towards Bitcoin, which dropped below the crucial $110,000 mark during trading.

Despite buyers initiating a partial recovery, negative sentiment continues. Alternative cryptocurrencies, including ETH, BNB, XRP, SOL, DOGE, and ADA, continue to trade within established ranges with minimal movement. "Fed Chair Powell, in his latest speech, hinted at a potential rate cut while cautioning about a rise in inflation due to tariffs and trade policies," the CoinDCX Research Team added, as quoted by Economic Times.

Over the last week, BTC declined by approximately 7.64%, while Ethereum decreased by 7.53% during the same period.According to the CoinSwitch Markets Desk, quoted by ET, the cryptocurrency market experienced a slight decline as growing US-China tensions affected risk appetite, with both countries implementing new port charges that increased trade uncertainty. Bitcoin temporarily reached $110K before a slight recovery, whilst Ethereum declined about 1%."Recent leverage unwinds have added to short-term volatility but may also be resetting market positioning for healthier accumulation. Key technical levels to watch include support at $110K-$112K and resistance near $116K. Cautious, low-leverage positioning remains prudent until clearer macro signals emerge," said the CoinSwitch Markets Desk.