What is the current state of the crypto market in India?
After a turbulent week, the global crypto market is trying to regain footing. In India, sentiment remains cautious. The Crypto Fear & Greed Index is deep in the “extreme fear” zone, reflecting widespread uncertainty among retail and institutional investors.
Globally, the total crypto market capitalisation ticked higher to about $3.15 trillion, but trading volumes stayed muted—signalling a lack of strong conviction. In India, volumes are also low, with investors watching closely for regulatory updates and macroeconomic signals from the US Federal Reserve, inflation data, and earnings from major tech firms.
Despite regulatory uncertainty, India remains one of the world’s most active crypto markets. According to recent reports, India ranks first globally in retail, DeFi, and institutional crypto usage. However, new taxation rules and compliance concerns continue to keep domestic traders in a wait-and-watch mode.
How have Bitcoin & Ethereum been performing recently?
Bitcoin (BTC) and Ethereum (ETH) continue to lead the market, acting as indicators for broader sentiment.
- Bitcoin traded around ₹79.8 lakh (≈ $96,290), down 2.83% over the last 24 hours.
- Ethereum held near ₹2.66 lakh (≈ $3,206), falling 3.61% in the same period.
Key trading ranges:
- BTC: ₹74.6 lakh (support) to ₹80 lakh (resistance)
- ETH: ₹2.48 lakh (support) to ₹2.7 lakh (resistance)
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (INR) | ₹79,84,028 | ₹2,66,124 |
| Price (USD) | $96,290 | $3,206 |
| 24h Change | –2.83% | –3.61% |
| 24h High | ₹77,14,684 (≈ $92,948) | ₹2,59,420 (≈ $3,125) |
| 24h Low | ₹74,66,311 (≈ $89,956) | ₹2,48,355 (≈ $2,992) |
| Sentiment | Cautiously Bearish | Cautiously Bearish |
Commentary:
- BTC has shown resilience near ₹74 lakh, supported by whale accumulation and strong on-chain metrics.
- ETH mirrors BTC’s movement but maintains support above ₹2.4 lakh, boosted by upcoming network upgrades and DeFi activity.
What are the main drivers of the crypto market?
The market is being shaped by a mix of global and domestic factors:
Global Macroeconomic Cues
- US Fed officials recently pushed back against expectations of early rate cuts.
- This triggered a “risk-off” move across financial markets, including crypto.
Regulatory Environment
- India: Ongoing discussions around crypto taxation and compliance are keeping investors cautious. The lack of a clear framework limits institutional participation.
- Globally: Policymakers in the US and Europe are advancing legislation on crypto assets, market structure, and institutional custody.
Technology and Network Upgrades
- Ethereum is preparing for scalability improvements.
- Layer-2 networks are competing for user adoption.
- AI, DeFi, and gaming integrations are fuelling interest in select tokens.
Which altcoins are showing interest right now – gainers and losers?
Top Gainers
| Altcoin | 24h Change | Reason |
|---|---|---|
| WhiteBIT Coin (WBT) | ▲ 18.05% | Platform announced higher staking rewards and new trading pairs. |
| Aster (ASTER) | ▲ 6.94% | Ecosystem fund and dev updates drove investor optimism. |
| Render (RNDR) | ▲ 6.73% | AI-related demand for decentralised GPU rendering surged. |
| UNUS SED LEO (LEO) | ▲ 4.40% | Quarterly token burn and liquidity support by parent exchange. |
| Cronos (CRO) | ▲ 3.81% | DeFi growth and gaming partnerships gave the token a lift. |
Top Losers
| Altcoin | 24h Change | Reason |
|---|---|---|
| Monero (XMR) | ▼ 11.34% | Delisting due to privacy coin regulations. |
| Hyperliquid (HYPE) | ▼ 7.30% | Profit-taking after recent rally; low liquidity amplified drop. |
| Avalanche (AVAX) | ▼ 3.97% | Network congestion and falling activity. |
| Zcash (ZEC) | ▼ 3.85% | Similar regulatory pressure as XMR; strong competition. |
| NEAR Protocol (NEAR) | ▼ 3.30% | Weak roadmap signals post strong monthly gains. |
What is the near-term outlook for Indian crypto investors?
Short-term market movement is likely to stay within a narrow range:
- BTC: Between ₹74 lakh and ₹80 lakh
- ETH: Facing resistance near ₹2.7 lakh
Key events to watch:
- Minutes from the US FOMC meeting
- Inflation and employment data
- Tech-sector earnings from major US firms
For Indian traders, any government clarity on crypto taxation or exchange regulation could act as a major market mover. Until then, muted trading volumes and sideways price action may persist.
Investor Tips:
- Focus on large-cap tokens
- Use stop-loss orders to manage risk
- Stay updated on global macro trends
Key Takeaways
- Crypto sentiment in India is cautious but stable
- BTC and ETH remain range-bound with support levels holding
- Regulatory clarity is the biggest catalyst for renewed upside
- Altcoins tied to AI, gaming, and DeFi are attracting speculative flows
- Investors should focus on blue-chip tokens and risk management
FAQs
Q: Is now a good time to invest in crypto in India?
A: Crypto offers exciting long-term potential. Investors with a balanced approach, focusing on established tokens and staying informed, can find opportunities—even in cautious markets.
Q: What is the crypto Fear & Greed Index saying now?
A: The index currently shows “extreme fear”, which some seasoned investors view as a potential accumulation phase.
Q: What are support levels for Bitcoin and Ethereum in INR?
A: BTC is holding key support near ₹74 lakh, while ETH remains strong above ₹2.48 lakh—both important zones that have attracted buying interest.
Q: Which coins are showing strength despite the bearish trend?
A: WhiteBIT, Render, and Aster have posted notable gains due to strong project updates, utility growth, and positive community sentiment.
Q: How do US Fed decisions impact Indian crypto prices?
A: US Fed signals can influence global risk sentiment. Dovish tones tend to support crypto, while hawkish ones may create short-term pressure—giving disciplined investors better entry opportunities.
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