The global crypto market pulled back on 8 October 2025 as traders locked in profits after last week’s record-breaking run. Bitcoin and Ethereum came off their recent peaks in Uptober and the broader market reflected a mix of optimism and caution. In India, sentiment was also shaped by local policy announcements. Union minister Piyush Goyal reiterated that India will soon launch an RBI‑backed digital rupee and again discouraged the use of private cryptocurrencies that lack sovereign or asset backing. This stance – coupled with heavy domestic taxes on trading gains – keeps speculative appetite in check but hasn’t stopped investors from following the sector closely. Globally, traders are monitoring U.S. macro conditions: a government shutdown and expectations of lower interest rates have increased Bitcoin’s appeal as a safe‑haven asset, even as near‑term sentiment cools.
Bitcoin & Ethereum Price Movement
The two largest cryptocurrencies dominated trading headlines. Bitcoin (BTC) consolidated after setting a fresh all‑time high above $126,000 earlier this week, slipping back toward the $121,000–$125,000 range. Ethereum (ETH) fell harder, retreating below $4,500 after failing to hold a breakout above $4,800. Despite the pullback, both coins still sit near multi‑month highs.
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. INR) | ₹1,07,99,397 | ₹3,94,996 |
| Price (approx. USD) | $121,800 | $4,460 |
| 24‑h % change | –1.8 % | –4.5 % |
| 24‑h high | ₹1,10,28,855 (≈ $125,108) | ₹4,21,000 (≈ $4,753) |
| 24‑h low | ₹1,06,75,000 (≈ $120,702) | ₹3,94,000 (≈ $4,454) |
| Sentiment | Cautious consolidation as traders take profits after new highs; fear & greed index still in “greed” territory. | Pullback after failed breakout; traders watching whether support near $4,400 holds. |
| Commentary | Bitcoin slipped from its recent record above $126,000 amid profit‑taking. Safe‑haven demand remains strong due to U.S. political uncertainty and expectations of lower rates. Analysts say holding above $120k could lead to another rally. | Ethereum’s decline was sharper because it couldn’t sustain its run above $4,800. Despite the drop, the network continues to benefit from strong DeFi activity and institutional staking. A rebound depends on maintaining the $4,400 floor. |
Top Gainers (Altcoins)
| Altcoin | 24‑h Price Change | Commentary |
|---|---|---|
| PancakeSwap (CAKE) | ▲≈ 11 % | CAKE led the altcoin gains as investors rotated into DeFi tokens. The protocol’s steady fee revenue and forthcoming v4 upgrade sparked fresh interest. |
| Sonic (S) | ▲≈ 7 % | GameFi token Sonic climbed on expectations of a new game release and broader metaverse enthusiasm. Speculative flows drove most of the gains. |
| Binance Coin (BNB) | ▲≈ 4.8 % | BNB hit a new all‑time high, buoyed by the success of Binance’s Layer‑2 ecosystem and an upcoming token burn. It overtook XRP to become the third‑largest crypto by market cap. |
| Mantle (MNT) | ▲≈ 5 % | The Mantle network token advanced as the project announced a major partnership with a decentralized exchange, boosting liquidity on the chain. |
| Tether Gold (XAUT) | ▲≈ 2 % | As risk appetite cooled, investors hedged with gold‑backed stablecoins. XAUT’s modest rise reflects safe‑haven demand without leaving the crypto ecosystem. |
Top Losers (Altcoins)
| Altcoin | 24‑h Price Change | Commentary |
|---|---|---|
| DoubleZero (2Z) | ▼≈ 17.9 % | The day’s worst performer plunged after whales offloaded tokens following a speculative pump. Lack of real‑world use makes 2Z vulnerable to sharp swings. |
| Zcash (ZEC) | ▼≈ 10 % | Privacy coin Zcash fell after regulators signalled closer scrutiny of anonymous transactions. Profit‑taking by short‑term traders intensified the decline. |
| MYX Finance (MYX) | ▼≈ 10 % | MYX retraced as liquidity farming rewards were slashed, prompting yield chasers to rotate into other protocols. |
| World Liberty Financial (WLF) | ▼≈ 10 % | This small‑cap token continued its downward spiral amid rumours of a delayed platform launch and concerns about developer activity. |
Crypto Market Movements & Key Themes
- Consolidation after the rally – After topping $126,000 earlier this week, Bitcoin pulled back as traders locked in profits. Ethereum’s drop below $4,500 triggered broader selling across altcoins. Despite the retreat, the overall market cap remains above $4 trillion, and the fear & greed index still signals greed, suggesting sentiment is cooling but not bearish.
- Local policy cues – India’s government signalled plans to introduce an RBI‑backed digital rupee to provide a sovereign, traceable alternative to cash. Union minister Piyush Goyal reiterated that India discourages cryptocurrencies that lack asset backing and will continue to levy heavy taxes on private crypto transactions. This reinforces a cautious regulatory environment even as interest in digital assets grows.
- Global macro drivers – The U.S. government shutdown, debates over fiscal spending and expectations of interest‑rate cuts in 2026 have spurred demand for hedge assets like Bitcoin. Standard Chartered analysts recently suggested BTC could reach $135k soon, citing institutional inflows. Meanwhile, liquidations across futures markets spiked to nearly $700 million over the last 24 hours, highlighting volatility.
- Key coins to watch – Besides Bitcoin and Ethereum, BNB is now the third‑largest crypto after overtaking XRP; traders are watching whether it can sustain its breakout. Solana (SOL) remains under pressure, down ~4.5 % on the day, as network congestion issues resurface. XRP traded around $2.86 with minor losses; legal clarity following regulatory rulings keeps the token in focus. Gold‑backed stablecoins like XAUT gained modestly as investors sought stability.
- Trending coins in India – On CoinMarketCap’s India‑specific trending list, speculative tokens dominated. Koma Inu (KOMA), SLIMEX (SLX), DeAgentAI (AIA), Four (FORM) and Mubarak (MUBARAK) were among the most‑viewed coins by Indian users, each posting double‑digit gains. These tokens are small‑caps with limited liquidity; traders should exercise caution.
Crypto Updates & Outlook for Tomorrow
The market’s near‑term outlook hinges on whether Bitcoin can hold the psychologically important ₹1 crore (≈ $120k) level and whether Ethereum defends support near ₹4 lakh (≈ $4.4k). Continued political uncertainty in the U.S. and anticipation of lower interest rates could reignite the rally if risk appetite returns. Locally, investors will watch for further details on India’s digital rupee rollout and any tax policy updates.
For altcoins, rotation could continue. DeFi tokens like PancakeSwap may extend gains if liquidity grows, while speculative names could see sharp reversals. Defensive plays such as gold‑backed stablecoins and USDT may attract capital if volatility stays elevated. Overall, the market remains in a consolidation phase; disciplined traders should focus on major coins with strong fundamentals and monitor macro cues.
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