Crypto Market movements & sentiment
As of mid‑day on 20 November 2025, the Indian cryptocurrency market is trying to regain its footing after the sharp sell‑offs seen earlier this month. Bitcoin (BTC) is trading around ₹8.12 lakh (≈ $91.5k) while Ethereum (ETH) hovers near ₹2.66 lakh (≈ $3k). These levels mark only a marginal change from the morning session, highlighting how prices have stabilised within a tight range. Nevertheless, both coins remain nearly 30 % below their yearly highs, reflecting the lingering bearish tone. Trading desks report that short‑term speculators have sent more than 65,000 BTC to exchanges at a loss, whereas long‑term holders continue to accumulate, indicating a tug‑of‑war between panic sellers and conviction buyers. The total crypto market capitalisation is around $3.14 trillion, still more than $1 trillion lower than the peak. Major altcoins are mixed: Solana and Hyperliquid continue to eke out modest gains while others trade flat. On‑chain metrics remain strong; the Bitcoin network processed over $6 billion in transactions in the past 24 hours, underscoring healthy use despite price volatility. Overall, sentiment is neutral to cautiously optimistic.
Local & global cues
Policy & regulation: India maintains its partial oversight approach toward digital assets. Recent government commentary warns that comprehensive regulation might lend undue legitimacy to cryptocurrencies without curbing peer‑to‑peer trading. Consequently, regulators favour high taxes and strict compliance over blanket legalisation. The Reserve Bank of India (RBI) remains sceptical of stablecoins and has reiterated that central‑bank‑issued digital currencies (CBDCs) should take priority in cross‑border transactions. This cautious stance echoes comments from the RBI governor earlier this month.
Macro environment: Global risk appetite is subdued as investors digest hawkish signals from the U.S. Federal Reserve. Odds of an interest‑rate cut at the December FOMC meeting have fallen to roughly one‑third, weighing on speculative assets. Bitcoin briefly retested the $89k support area before rebounding toward $93k. Analysts highlight $93k as immediate resistance and $89k as strong support, implying that a breakout in either direction could set the tone for the rest of the week. Institutional flows into U.S. spot Bitcoin ETFs have slowed but remain positive, while some funds are trimming Ethereum exposure in response to short‑term weakness.
Key coins & trends to watch
Trending in India: CoinGecko’s popularity index continues to place SachiCoin (SACHI) at the top of India’s trending list, followed by Origin LGNS, Bitcoin, Solana, Ethereum, Shiba Inu, Zcash, Tensor, Starknet, XRP, Aster, Pepe, Dogecoin, Sui and Grass. Retail traders are drawn to these tokens due to recent price swings, unique tokenomics or ecosystem developments.
Altcoin rotation: Activity on Indian exchanges highlights an ongoing rotation into smaller‑cap names. Mudrex’s spotlight shows Tensor (TNSR) surging on enthusiasm around its governance token launch. Ancient8 (A8) and Alchemist AI (ALCHAI) are rallying on news of new gaming partnerships and AI product releases. Grass (GRASS), a bandwidth‑sharing network, continues to climb ahead of a major upgrade, while Dymension (DYM) gains traction thanks to its modular rollup‑as‑a‑service model. On the flip side, Nillion (NIL), Lit Protocol (LIT), UXLINK (UXL), NAVI Protocol (NAVI) and Forta (FORT) are among the biggest decliners as traders lock in profits and rotate into higher‑beta plays.
Crypto updates
- On‑chain flows: Exchange dashboards show that short‑term holders transferred roughly 65,200 BTC to trading venues at a loss over the past day. Despite this, the Bitcoin network processed more than $6 billion in value, suggesting strong underlying usage and resilience.
- Institutional sentiment: WazirX’s trading desk notes that institutional investors remain committed to systematic Bitcoin exposure but are trimming Ethereum positions in response to short‑term weakness. CEO Edul Patel believes the market is consolidating and could rally if liquidity improves and macro headwinds ease.
- Regulatory watch: India’s central bank reiterated its cautious stance on cryptocurrencies and stablecoins, emphasising the need to prioritise CBDCs. Regulators warn that widespread adoption of stablecoins could disrupt the country’s Unified Payments Interface (UPI). Until a global regulatory framework emerges, India will likely rely on taxation and partial oversight to deter speculative trading.
Outlook for tomorrow
Expect choppy, range‑bound trading in the near term. Bitcoin is likely to oscillate between ₹7.85 lakh (≈ $88.5k) and ₹8.25 lakh (≈ $93k), while Ethereum may find support near ₹2.55 lakh and face resistance around ₹2.75 lakh. Traders should monitor U.S. macro data releases and any policy statements from the RBI for fresh cues. Altcoins tied to decentralised AI, data‑sharing platforms and modular blockchains may continue to outperform, but volatility will remain high. Overall, sentiment is neutral to cautiously bullish: investors are positioning for potential year‑end rallies yet remain prepared for further downside if liquidity tightens.
Bitcoin & Ethereum price movement
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. INR) | ₹8,119,075 | ₹266,426 |
| Price (approx. USD) | $91,503 | $3,003 |
| 24‑h % change | +0.02 % | –2.75 % |
| 24‑h high | ₹8,254,114 (≈ $93,025) | ₹275,378 (≈ $3,104) |
| 24‑h low | ₹7,854,986 (≈ $88,527) | ₹254,764 (≈ $2,871) |
| Sentiment | Neutral to cautious; BTC is consolidating after a sharp drawdown. Traders are watching the ₹8.25 lakh resistance and ₹7.85 lakh support for signs of a breakout. | Slightly negative; ETH is under pressure as short‑term holders sell and institutional flows slow. Network activity remains healthy, but the price may stay choppy until macro conditions improve. |
| Commentary | Bitcoin’s recovery into the low ₹8 lakh zone signals stabilisation. A break above ₹8.25 lakh could trigger fresh buying, while a drop below ₹7.85 lakh may invite stop‑loss selling. | Ethereum faces ongoing profit‑taking, but its strong DeFi and NFT ecosystems underpin long‑term potential. Price action is expected to remain range‑bound until market liquidity picks up. |
Top gainers (altcoins)
| Altcoin | 24‑h change | Commentary |
|---|---|---|
| Tensor (TNSR) | ▲ 217.39 % | The Solana‑based governance token continued its blistering rally as traders chased the airdrop hype and growing NFT marketplace integration. |
| Ancient8 (A8) | ▲ 49.99 % | Gaming infrastructure token Ancient8 surged after announcing partnerships with major game studios, sparking optimism about blockchain gaming adoption. |
| Alchemist AI (ALCHAI) | ▲ 45.22 % | AI‑themed projects remain in favour; Alchemist AI rose on speculation around upcoming product launches and potential exchange listings. |
| Grass (GRASS) | ▲ 43.03 % | The network that rewards users for sharing idle bandwidth rallied ahead of a mainnet upgrade and amid reports of rapid user growth. |
| Dymension (DYM) | ▲ 32.12 % | Interest in modular blockchains lifted Dymension as its rollup‑as‑a‑service model gained attention and rumours circulated of new layer‑2 deployments. |
Top losers (altcoins)
| Altcoin | 24‑h change | Commentary |
|---|---|---|
| Nillion (NIL) | ▼ 45.31 % | The decentralised computing token surrendered recent gains as profit‑taking accelerated and liquidity dried up. |
| Lit Protocol (LIT) | ▼ 32.08 % | Lit Protocol tumbled after a strong rally; concerns about development delays and overbought conditions weighed on sentiment. |
| UXLINK (UXL) | ▼ 22.90 % | Weak user adoption and traders rotating into other sectors dragged down the social‑graph token. |
| NAVI Protocol (NAVI) | ▼ 22.25 % | Despite solid fundamentals, NAVI slipped as the broader DeFi sector pulled back. |
| Forta (FORT) | ▼ 21.57 % | Security‑focused Forta faced selling pressure as traders favoured higher‑beta projects, though its long‑term use case remains intact. |
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