Stock Market LIVE Updates, Sensex Today: Sensex, Nifty Trade Flat Amid Mixed Global Cues

Vikram Subburaj, CEO, Giottus.comBitcoin traded near $78,750 on Thursday morning, up about 0.3% over 24 hours, after ranging between approximately $77,640 and $79,241. The crypto has managed to hold most of its sharp August gains despite hotter US inflation data. Immediate support lies around $77,600-$78,000. On the upside, $79,250-$80,000 is the first resistance zone, followed by the more significant $80,800-$83,300 region.The latest on-chain data suggest that the recovery has a healthier foundation than a leverage-driven rally alone. The August 19 short squeeze produced the largest single-day short-liquidation event since 2019. However, Futures open interest subsequently fell 11%. This indicates that liquidated shorts were not simply replaced by aggressive leveraged longs. Accumulation has also broadened, with all six wallet-size cohorts recording an Accumulation Trend Score of at least 0.5. The Short-Term Holder Cost Basis is now near $70,000, providing an important structural support level.Institutional demand remains strong. US spot Bitcoin ETFs recorded approximately $2.57 billion of net inflows across seven consecutive sessions from August 17-25. This includes $337.6 million on August 24 and $314.3 million on August 25. Farside's August 26 figure remains incomplete, with several major funds yet to report.Large-cap altcoins are mixed but generally resilient. Ethereum traded near $2,502, up 1.8%, BNB around $705, up 1.5%, and Solana near $101.64, up 4.8%. XRP was around $1.41, while TRON traded near $0.336. Solana's outperformance suggests risk appetite remains present beyond Bitcoin.Macro is now the principal risk. July headline PCE inflation came in at 3.7% year-on-year, while core PCE remained at 3.3%, keeping inflation well above the Fed's 2% objective. Fed-funds futures subsequently raised the probability of a September rate hike to roughly 40%-44%. Attention now shifts to Jackson Hole from August 27-29, and particularly Fed Chair Kevin Warsh's August 28 address.Our advice: Bitcoin's broader structure remains constructive, but investors should avoid chasing the rally near resistance. Staggered accumulation and controlled leverage remain preferable, with $77,600-$78,000 support and $80,800-$83,300 resistance the key zones to monitor.