After a period of consolidation, the crypto market is seeing a renewed bout of volatility. The total market capitalization has dipped again, reflecting a sense of caution among traders globally. In the Indian market, Bitcoin is holding its ground around the psychological ₹1 crore mark, but Ethereum and many altcoins have experienced further declines. This movement indicates a potential flight to quality, with investors prioritizing Bitcoin‘s stability amid macroeconomic uncertainty. While some projects with strong fundamentals are showing resilience, the overall mood is bearish as the market awaits key economic signals. To understand its long-term potential, you can learn more about Bitcoin and its fundamentals on our dedicated crypto coins page.
Key indices & statistics
- Global market cap: ~$3.84 trillion (down ~2.75% day-on-day)
- 24‑h trading volume: ~$161 billion, indicating active trading as positions are adjusted.
- Bitcoin dominance: ~59.8% | Ethereum dominance: ~12.7%.
- Indian rupee (INR) reference: ~₹88.7 per US dollar.
Global cues: The market is bracing for U.S. macro data, including the upcoming core PCE data, a key inflation metric closely watched by the Federal Reserve. Recent speeches from Fed officials have been interpreted as slightly hawkish, which has put pressure on risk assets like crypto. The market is also still absorbing the impact of yesterday’s large liquidations, which has made traders more cautious about using leverage.
Local cues: The Indian crypto scene remains a mixed bag. While regulatory clarity is still developing, the government’s stance on investor protection over an outright ban is a positive. Meanwhile, exchanges continue to report strong user adoption, a key indicator of long-term growth despite short-term price fluctuations.
Bitcoin & Ethereum Price Movement (24-hour)
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
| Price (approx. INR) | ₹99,87,538 | ₹3,87,299 |
| Price (approx. USD) | $112,650 | $4,366 |
| 24‑h % change | -0.26% | -0.49% |
| 24‑h high | ₹1.01 crore (≈ $114,379) | ₹3.92 lakh (≈ $4,420) |
| 24‑h low | ₹98.8 lakh (≈ $111,387) | ₹3.69 lakh (≈ $4,160) |
| Sentiment | Neutral-to-cautious; BTC is consolidating in a tight range. On-chain data showing accumulation by new wallets suggests a solid underlying sentiment. | Bearish-to-cautious; ETH is struggling to find a solid floor, though on-chain data indicates some long-term holders are still buying. |
| Commentary | Bitcoin is showing impressive resilience, holding the key ₹1 crore support despite the broader market’s weakness. Institutional inflows continue to support its price. | Ethereum has faced more pressure due to its higher correlation with the volatile altcoin market. Its price action is heavily influenced by the DeFi and NFT sectors. |
Top Gainers (Altcoins)
| Altcoin | 24‑h change (approx.) | Commentary |
| Astar (ASTR) | ▲ 20.12 % | The rally continues for this Layer-2 project, driven by strong network fundamentals and news of new dApps launching on its ecosystem. |
| Gala (GALA) | ▲ 17.25 % | After a significant drop, this gaming token is seeing a speculative bounce, fueled by community excitement over upcoming game releases and partnerships. |
| Chainlink (LINK) | ▲ 10.93 % | As a key provider of decentralized oracles, Chainlink‘s strength reflects a broader move toward utility-driven crypto assets. |
| Immutable X (IMX) | ▲ 12.33 % | This Layer-2 solution for NFTs is performing well as selective interest in the NFT space returns, particularly in gaming. |
| BNB | ▲ 3.15 % | BNB is showing strong resilience, which can be attributed to its dominant position as a utility token on one of the largest exchanges. |
Top Losers (Altcoins)
| Altcoin | 24‑h change (approx.) | Potential reason for decline |
| Mobox (MBOX) | ▼ 15.1 % | The gaming token continues to fall as user metrics and trading volumes decline, leading to a loss of investor confidence. |
| SushiSwap (SUSHI) | ▼ 13.2 % | The decline reflects a broader trend of decentralized finance (DeFi) platforms losing market share to newer competitors and facing reduced liquidity. |
| Floki Inu (FLOKI) | ▼ 11.5 % | The memecoin market is cooling down. Traders are moving their capital out of high-risk, speculative assets and into more established projects. |
| Terra (LUNA) | ▼ 11.0 % | Ongoing legal and regulatory concerns, as well as a lack of clear utility, have put consistent pressure on the token’s price. |
| Cartesi (CTSI) | ▼ 12.4 % | Profit-taking and concerns about a possible delay in its project roadmap have led to a sharp drop in price. |
Market Movements and Cues
Today’s crypto market action is a story of two different moods: Bitcoin‘s stability versus the broader altcoin volatility. The recent $162 billion sell-off in the global market, dubbed “Red September,” has created a sense of fear, but it’s also forcing a healthy deleveraging process. This means a lot of the short-term, speculative traders who were using high leverage have been flushed out, potentially setting the stage for more sustainable growth.
On the domestic front, India’s growing user base continues to be a major growth driver. Exchanges are reporting strong sign-ups, and the general public’s interest remains high. This local demand could act as a buffer against global market swings.
Key Coins to Watch
- Bitcoin (BTC): Holding the ₹1 crore mark is crucial. If it breaks above the $114,800 resistance, we could see a fresh rally. Conversely, a drop below $111,200 could signal a deeper correction.
- Ethereum (ETH): The second-largest cryptocurrency is under pressure but has strong long-term fundamentals. A recovery in DeFi and Web3 could pull its price back up.
- Chainlink (LINK): As the market matures, assets with real-world utility like LINK are gaining attention. It’s a key coin for investors looking beyond pure speculation.
Crypto Updates & Developments
- Morgan Stanley’s Move: The Wall Street giant is set to offer Bitcoin, Ethereum, and Solana trading on its E*Trade platform in 2026. This is a massive step towards mainstream adoption.
- Institutional Inflows: Despite the short-term market dip, institutional investment products are still recording inflows. This suggests that large players are viewing the current prices as a buying opportunity.
- Regulatory Clarity: Global regulators are making progress on frameworks for digital assets. This clarity is vital for attracting more institutional capital and building trust in the market.
Outlook for Tomorrow
The market’s immediate future hinges on macro events. If the upcoming U.S. economic data is favorable, we could see a relief rally, with Bitcoin and Ethereum leading the charge. If the data disappoints, another wave of selling is possible. For now, Bitcoin appears to be the most resilient asset. Altcoins will likely remain volatile, so traders should focus on projects with strong fundamentals and a clear value proposition. The long-term outlook for crypto in India remains bullish, supported by a young population and growing digital infrastructure.
