Today’s crypto market in India saw buoyant trading as the global market cap rose above $3.99 trillion, with 24‑hour trading volumes around $269 billion. Bitcoin and Ethereum, which together command roughly 70 % of market share, continued their upward march. Investor sentiment, however, remains cautious; the Crypto Fear & Greed Index sits in the ‘Fear’ zone at 38 after moving up from extreme fear the previous day. This suggests that traders are still risk‑averse despite the recent rally.
Market overview
The broader market gained after a weak start to the week. US macro cues – particularly expectations that the Federal Reserve will hold rates steady and a cooling in US inflation data – provided a tailwind. On the domestic front, Indian regulators reiterated their commitment to developing a framework for crypto taxation and KYC rules, while the Reserve Bank of India said its pilot digital‑rupee program is progressing well. The combination of positive global signals and clarity on domestic regulation lifted risk appetite.
Bitcoin reclaimed the ₹10 million mark per coin (roughly $115 k). Ethereum surged more than 8 % over the last 24 hours as traders rotated into smart‑contract platforms ahead of upcoming layer‑2 launches. Mid‑cap altcoins rallied sharply, with protocols linked to decentralized finance (DeFi), artificial intelligence and gaming posting the biggest gains. Conversely, a handful of meme and niche tokens came under pressure as traders booked profits.
Bitcoin & Ethereum price movement
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. INR) | ₹10,195,425 | ₹367,851 |
| Price (approx. USD) | $114,915 | $4,146 |
| 24‑h % change | ▲ 2.72 % (bullish momentum continues) | ▲ 8.44 % (strong rally as demand for smart‑contract platforms increases) |
| 24‑h high | ₹10,287,714 (≈ $115,955) | ₹374,251 (≈ $4,218) |
| 24‑h low | ₹9,869,404 (≈ $111,240) | ₹337,024 (≈ $3,799) |
| Sentiment | Mildly bullish; recovery above ₹10 million reinforces confidence, though investors remain wary of macro headwinds. | Bullish; sharp upside reflects strong interest in Ethereum ahead of scalability upgrades and institutional adoption. |
| Commentary | Bitcoin’s steady climb suggests accumulation by long‑term investors. The 24‑hour range shows strong support near ₹9.8 million. Continued US‑dollar weakness and ETF optimism could push BTC toward new monthly highs. | Ethereum outperformed Bitcoin as layer‑2 narratives gain traction. With gas fees steady and upcoming network upgrades, ETH may challenge the $4,200 resistance. Traders should watch for profit‑taking if sentiment shifts. |
Top altcoin gainers (24 h)
| Altcoin | 24‑h price change | Commentary |
|---|---|---|
| Synthetix (SNX) | ▲ 93.11 % | SNX skyrocketed after the synthetic‑assets platform announced a major upgrade to its perpetual futures exchange. The surge reflects renewed interest in DeFi derivatives and positive earnings from protocol fees. |
| Dash (DASH) | ▲ 35.46 % | The privacy‑focused payment coin rallied on rumours of a partnership with Latin‑American merchants. Short‑squeeze dynamics also fuelled the jump after weeks of range‑bound trading. |
| Bittensor (TAO) | ▲ 33.64 % | TAO, an AI‑focused protocol, extended its rally as investors bet on decentralised machine‑learning networks. Strong community engagement and ecosystem grants helped lift sentiment. |
| Mantle (MNT) | ▲ 25.25 % | Mantle’s layer‑2 solution gained as traders rotated into scalable Ethereum alternatives. Anticipation of upcoming mainnet milestones supported the move. |
| World Liberty Financial (WLFI) | ▲ 19.99 % | WLFI, a lesser‑known financial protocol, posted double‑digit gains after its parent platform teased cross‑chain lending features. Liquidity remains thin, so volatility could remain elevated. |
Top altcoin losers (24 h)
| Altcoin | 24‑h price change | Commentary |
|---|---|---|
| MemeCore (M) | ▼ 6.65 % | The meme‑token gave back gains after a speculative rally. With little fundamental backing, traders took profits, leading to a sharp pullback. |
| Hyperliquid (HYPE) | ▼ 0.70 % | HYPE edged lower as enthusiasm around perpetual‑DEX tokens cooled. The decline was modest, indicating that selling pressure is still limited. |
| Zcash (ZEC) | ▼ 0.50 % | The privacy coin slipped amid regulatory concerns and rotation into higher‑beta assets. Support remains near the ₹24,000 level (≈ $272). |
Key indices and statistics
- Global market cap: The total crypto market capitalization stands at roughly $3.99 trillion, up 4.1 % in the last 24 hours.
- 24‑hour volume: Trading activity reached $269 billion, signalling renewed participation by both retail and institutional players.
- Bitcoin dominance: 57.3 %, indicating that altcoins are slowly gaining market share.
- Ethereum dominance: 12.5 %, a slight uptick reflecting ETH’s outperformance.
- Crypto Fear & Greed Index: 38 (Fear) – sentiment improved from extreme fear but remains cautious.
- Gas fees: Ethereum network gas fees hovered around 0.11 Gwei, keeping transaction costs low and aiding DeFi usage.
Market movements & local cues
Indian crypto exchanges reported higher volumes, with Bitcoin–INR pairs trading above ₹10.1 million. Retail participation improved as festival season bonuses spurred new investments. Meanwhile, the Indian government reiterated that its consultative paper on digital assets taxation is expected by the end of the year. This announcement provided clarity for traders worried about stricter controls. The Reserve Bank of India’s ongoing central‑bank digital currency (CBDC) pilot also kept digital‑asset discussions in the spotlight.
Globally, traders were encouraged by signs that U.S. inflation is moderating, reducing the likelihood of aggressive rate hikes. The U.S. Securities and Exchange Commission continued to review spot‑Bitcoin ETF applications, with analysts expecting a decision later this quarter. Positive news on the ETF front could be a significant catalyst. In Europe, MiCA regulations entered a transitional phase, offering legal clarity for crypto businesses operating on the continent.
Key coins to watch
- Solana (SOL): With a 24‑hour gain of over 7 %, SOL remains a key layer‑1 to watch. The network’s upcoming Firedancer upgrade aims to improve throughput dramatically.
- BNB (BNB): The exchange token climbed nearly 14 % as Binance announced new launchpad projects. Regulatory developments involving Binance’s U.S. operations could introduce volatility.
- Sui (SUI) & Aster (ASTER): Both posted double‑digit gains and have strong developer interest. Watch for follow‑through buying as their ecosystems expand.
- Dogecoin (DOGE): The meme‑coin added roughly 10 %, buoyed by social‑media hype. Momentum could fade quickly; traders should exercise caution.
- Chainlink (LINK): Oracle tokens gained about 10 % as cross‑chain interoperability became a hot topic. Partnerships and staking incentives could keep LINK in focus.
Outlook for tomorrow
With sentiment still in the fear zone yet improving, the market may experience consolidation ahead of key macro events. If U.S. economic data remains soft and no major regulatory shocks emerge, Bitcoin could test resistance near ₹10.35 million (≈ $116 k), while Ethereum might challenge ₹380,000 (≈ $4,250). A break above those levels could trigger further upside, but traders should watch for profit‑taking given recent sharp gains in altcoins.
Locally, any government commentary on the classification of digital assets or tax rules could sway sentiment. Liquidity is likely to thin out towards the weekend, so price swings could amplify. Overall, a cautiously optimistic tone prevails, with a focus on quality projects and layer‑2 developments.
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