Bitcoin slipped marginally by 0.39% in the past one day to trade nearly $111,466. Meanwhile, Ethereum was trading at $4,309. Analysts believe that BTC around $111,000 is one of its tightest ranges in months, with volatility compressed to multi-month lows.

“Bitcoin is hovering around $111,000 in one of its tightest ranges in months, with volatility compressed to multi-month lows. That calm masks tension ahead of September’s CPI and next week’s US Fed decision. Prediction markets (Polymarket) lean toward a 25 bps cut on September 17 (~82%) and this is expected to trigger the next decisive move,” said Vikram Subburaj, CEO, Giottus.com

Also Read | NFO Insight: Can Groww Multi Asset Allocation Fund add value to your mutual fund portfolio?Subburaj further adds that, “U.S. equities and gold at record highs also underline the divergence: risk assets have run, while Bitcoin is still base-building near support. It appears to be a fragile consolidation, where participants are neither chasing the upside nor capitulating. So, when volatility returns, the break is likely sharp and decisive.”At 10:19 AM IST, Bitcoin was trading at $111,510, marginally down 0.35% over the past 24 hours and up by nearly 0.47% over the past week. Ethereum, meanwhile, was trading at $4,309, up by 0.02% in the past 24 hours and down by 0.52% over the last seven days.

According to CoinMarketCap, the overall cryptocurrency market capitalization stood at around $3.88 trillion on Wednesday.

Here is what other analysts say

Parth Srivastava, Head of Quant at 9Point Capital’s Research TeamBitcoin continues to trade in a tight range as market participants await a decisive breakout. Consolidation near current levels reflects reduced volatility and balanced positioning. With macro liquidity stable and funding rates neutral, near- term price action may remain range-bound before a potential directional move. We maintain a watchful stance, favoring disciplined positioning over speculation.

Also Read | MF Tracker: Can a 9-Out-of-10 times large & mid cap winner sustain its momentum?

CoinSwitch Markets Desk

BTC slipped below $111K after the U.S. jobs report revealed a payroll revision that revised 911,000 jobs from initial estimates. Unemployment rose to 4.3%, increasing recession risks unless the Fed steps in with rate cuts. After bottoming near $110,800, price stabilized and formed a sideways consolidation band between $111K–$111,500, showing buyers defending the lower zone.

ETH is holding above $4,280 support, and a sustained push above $4,350 could reignite bullish momentum. Notably, ETH ETFs have seen $1.04B in outflows over six straight sessions, with analysts pointing to seasonal weakness as a contributing factor to the current slump.