By Juwon Olofijana
Finance News Correspondent
Bitcoin remained steady around $110,900 on Wednesday, showing signs of stabilization after a volatile stretch in the market. Analysts attribute the firm footing to strong stablecoin inflows and improved liquidity, which signal renewed investor confidence.
“Momentum is still in play, and any dips are quickly absorbed by tactical buyers,” noted Parth Srivastava of 9Point Capital. He added that short-term activity suggests continued appetite for accumulation rather than panic selling.
Meanwhile, Ethereum traded at $4,321, marking a 1.3% decline over the past 24 hours and a 7% drop over the week. Despite the pullback, the second-largest cryptocurrency has managed to defend the critical $4,300 zone, which analysts view as a sign of resilience.
“Ethereum’s fundamentals remain intact, supported by rising decentralized application activity and structural network strength,” said Vikram Subburaj of Giottus.com. “While traders are cautious near $4,500, long-term momentum continues to build.”
As of 10:53 AM IST, Bitcoin had gained 0.62% in the last 24 hours, though it was still down nearly 1% on the week. The overall crypto market capitalization hovered around $3.83 trillion.
Market watchers believe BTC is in a consolidation phase. A decisive breakout above $110K could pave the way toward $117K, but a rejection may drag the price back toward the $104K support zone.
