Bitcoin consolidates at $79,000 as profit-taking and consolidation keep market cautious. Here's what exper

Bitcoin consolidated near the $79,000 mark on Thursday as profit-taking and consolidation keep the market cautious, and traders are waiting for the next trigger. The cryptocurrency was trading at the $78,797 mark.

In the past 24 hours, Bitcoin was down 0.12%, and Ethereum was up 1.30% to trade at the $2,491 mark. Among the major altcoins, BNB, Solana, and Dogecoin rallied up to 4.72%, whereas XRP, Tron, Hyperliquid, and Cardano corrected up to 2.13%.

The crypto market is in a wait-and-watch phase after Bitcoin’s recent recovery. BTC is currently consolidating around $78,000–$79,000, with traders closely watching whether buyers can push the price back toward the $82,000 area, said Riya Sehgal, Research Analyst, Delta Exchange.

Sehgal further said that the current setup suggests profit-taking and consolidation rather than a clear bearish reversal, and for traders, attention now shifts toward the Jackson Hole event and upcoming Fed commentary; additionally, the next major U.S. inflation catalyst will be August CPI on September 11.

The global crypto market capitalisation went up 0.12% to $2.65 trillion, according to CoinMarketCap. The weighted sentiment of Bitcoin turned negative for the first time since the rally began, indicating the crowd still has not bought it despite the 25% jump in the price, said CoinDCX Research Team.