Nischal Shetty, founder, WazirX

"Crypto markets remained stable despite pressure from AI stocks, higher oil prices, bond yields and a stronger US dollar. The limited decline indicated that participation remained steady, even as the environment reduced demand for risk assets.

Hopes of an agreement to reopen the Strait of Hormuz supported sentiment. However, crude oil benchmarks gained more than 1%, showing that concerns around energy supplies have not eased. For crypto, sustained oil price growth could keep inflation and interest-rate expectations elevated, limiting liquidity and momentum.

Regulatory developments in the US remained in focus. The CLARITY Act could establish clearer rules for crypto businesses and investors, supporting institutional participation. However, disagreement over an ethics clause has delayed the bill's progress. Its approval could become a long-term catalyst, although the immediate market impact remains limited.

Crypto ETF flows remained selective as macro concerns placed pressure on Bitcoin funds. Hyperliquid ETF inflows slowed in July and early August after strong demand in May and June, while cumulative XRP ETF inflows were expected to move beyond $1.51 billion, showing continued interest in regulated digital asset exposure.

Bitcoin trades near $64,214, with its summary indicating Sell as oscillators weaken and moving averages remain mixed. RSI at 51.35 remains neutral. Support sits around $64,035-$64,060, with resistance near $64,355. On the other hand, Ethereum trades near $1,898, with a Neutral summary, Buy-leaning moving averages and an RSI of 54.52. Support lies around $1,885-$1,893, while a break above $1,900 could strengthen momentum.

BTC Futures traders could monitor the $64,035-$64,060 support zone and resistance around $64,355. Holding above support may keep positioning balanced, while a move through resistance could bring changes in open interest and funding rates. For ETH Futures traders, $1,885-$1,893 remains the nearest support area, with $1,900 as resistance. Traders should track volume and liquidation activity before responding to moves outside these levels."

Gaurav Udani, Founder, Thincredblu Securities 

Nifty is expected to open lower around 24,535, down nearly 100 points, indicating a subdued start after the recent rally.

The index is likely witnessing some profit booking, but the broader trend remains positive as long as key support levels hold. 24,400-24,500 will be the immediate support zone, where buying interest is expected to emerge on declines.

On the upside, 24,700-24,800 remains the key resistance range. A decisive move above this zone could signal a continuation of the ongoing uptrend and pave the way for fresh highs.

The current dip should be viewed with caution rather than panic. As long as Nifty holds above the 24,400 support zone, the preferred strategy remains buy on dips, while traders should avoid aggressive short positions against the prevailing trend.

Akshat Siddhant, Lead quant analyst, Mudrex

Crude oil has rebounded above $78 a barrel, gaining 2-3% over the past two sessions, after Iran's proposed Strait of Hormuz agreement proved more restrictive than markets had expected. The draft reportedly bars US and Israeli vessels, imposes a 20% cargo penalty on violators, and seeks compensation, while fresh explosions have revived supply concerns. The developments have partially reversed this week's sharp decline in oil prices. Meanwhile, gold is holding in the $4,200-$4,250 an ounce range after Wednesday's rally to a seven-week high near $4,300, while silver has weakened toward $61. Any further geopolitical escalation over the weekend could push oil back above $80, with spillover effects on precious metals.

Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin is trading around $64,400, with the market consolidating ahead of the U.S. employment report. The broader risk backdrop remains finely balanced, as resilient U.S. labour data and renewed strength in crude oil keep inflation and interest-rate expectations in focus. A softer employment print could ease Treasury yields and the dollar, providing support to crypto and other risk assets, while stronger-than-expected jobs and wage growth could revive expectations of tighter Federal Reserve policy.

Bitcoin is holding the $64,000-$64,200 support zone. A break above $64,750-$65,000 could open $65,250-$65,600, while a move below $64,000 may expose $63,750 and the $62,400-$63,100 demand zone.

Ethereum is near $1,900, with resistance at $1,900-$1,925. A breakout above $1,925 could target $1,945-$1,975, while $1,875-$1,890 is the first support zone.

Gold remains stronger, with support at $4,165-$4,200 and resistance near $4,280. A breakout could bring $4,320-$4,360 into focus.

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BTC remained range-bound between $64,000 and $65,000 after briefly testing the upper end of the range but failing to hold above it. Repeated rejections near $65,000 indicate continued selling pressure, while broader sentiment stayed cautious as markets awaited clearer geopolitical and macroeconomic signals. Hopes of reopening the Strait of Hormuz provided little support, with oil prices holding near $76 per barrel. Near-term support sits at $64,350-$64,400, and a break below this zone could expose $64,200. On the upside, reclaiming $64,600 may pave the way for another move toward $64,800-$65,000. 

Prateek Gupta, Head of Business, Mudrex

Bitcoin is attempting to reclaim the $65,000 level ahead of today's US jobs report, with the market approaching a critical technical and liquidity zone. The $65,000 mark has emerged as the largest short-liquidation cluster, adding to the volatility. Institutional demand continues to grow strong, with US spot Bitcoin ETFs attracting $626 million in net inflows over the past three trading sessions. Part of these inflows is coming from investors shifting from self-custody to ETFs following the Coldcard wallet security breach. A weekly close above $65,000 could make way toward $70,000, while a close below $63,000 may expose Bitcoin to a deeper correction toward $60,000.

Rajesh Palviya, Head of Research, Axis Direct

The Nifty 50 ended Thursday at 24,636, up 11 points, extending its consolidation phase for a third consecutive session after the recent 1,100-point rally. While the benchmark remained range-bound, stock-specific action dominated the market. Reliance Industries surged 3.5% following large block deals, while SBI gained 3% ahead of its June-quarter earnings. On the other hand, Power Grid declined nearly 4% after a weak quarterly performance. The Sensex advanced 374 points to 78,955, though broader markets remained under pressure with midcap stocks witnessing profit booking. Global cues turned cautious overnight as the Dow Jones fell 464 points, ending its record streak, while the S&P 500 and Nasdaq Composite also closed marginally lower amid rising US Treasury yields and weaker-than-expected earnings from memory-chip makers.

Asian markets are trading subdued this morning, with Japanese equities extending their technology-led decline. Brent crude has climbed above $83 per barrel following fresh geopolitical tensions near the Strait of Hormuz, posing a potential risk for India as a major crude importer. Gold is holding steady near $4,280, while GIFT Nifty is indicating a flat start around the 24,650 mark.

Technically, the market continues to exhibit a cautious undertone as long as the Nifty remains below the 24,800 level. A sustained move above this hurdle could pave the way towards the 25,000 mark. On the downside, immediate support is placed in the 24,500-24,400 zone, with a breach potentially dragging the index towards 24,300. Investors will closely monitor the US July payrolls data later today for directional cues, while any easing in crude oil prices could provide fresh momentum for the ongoing recovery.

At the close on Thursday, the total market cap of all BSE Sensex companies stood at Rs 4,93,62,011.