Crypto Market overview
The digital‑asset market steadied after a volatile week. Bitcoin hovered around $111 k and Ethereum around $4.48 k, both posting small daily gains. CoinMarketCap’s global crypto market capitalisation stood near $3.86 trillion with $158 billion in 24‑hour trading volume. Bitcoin still dominates with a 57.4 % share of total market value while Ethereum commands 14 %. The Fear & Greed index is neutral around 47‑50, suggesting neither extreme fear nor excessive greed.
After a large whale sold about 24 000 BTC earlier in the week, Bitcoin briefly fell to $110 k and wiped roughly $200 billion from the crypto market. Ethereum, however, nearly set a fresh all‑time high near $4.9 k. Analysts from Pi42 and Mudrex said the sell‑off underscored the impact of whale activity and emphasised that institutional investors continued buying the dip.
Local cues (India)
Tax arbitrage & derivatives boom: Zerodha co‑founder Nithin Kamath highlighted that Indian traders are flocking to crypto futures because derivatives profits can be reported as “income from other sources,” avoiding the 30 % VDA tax and TDS. This grey zone allows leverage above 50× but exposes traders to major risks and has prompted regulatory scrutiny.
Whale sell‑off ripple effects: The NDTV report noted that a whale dumping 24 k BTC caused a sharp market drop but that institutional flows into Ethereum remained strong. Altcoins such as Solana, Cardano, Dogecoin and XRP saw double‑digit losses during the sell‑off.
Global cues
- U.S. macro data: AInvest’s analysis explains that upcoming U.S. economic indicators—ISM manufacturing PMI, jobless claims and reserve balances—affect investor risk appetite. Strong data may pull capital into traditional assets, while weak data could drive flows into crypto. Investors are advised to diversify and employ risk management strategies.
- PMI divergences: Another AInvest report notes that manufacturing PMIs in the U.S. and eurozone recently reached multi‑year highs, boosting risk‑on sentiment and crypto inflows. By contrast, Japan and China recorded PMI contractions, prompting hedging strategies. India’s services PMI remains robust at 65.6, signalling strong local growth and supporting crypto adoption.
- Regulatory uncertainty: Global regulators are debating classification of crypto as securities or commodities. The U.S. SEC’s approvals of spot‑Bitcoin ETFs and potential Ethereum ETFs will influence liquidity and altseason timing.
Top trending crypto coins in India
CoinMarketCap’s India trends list shows the tokens with the most page views from Indian users. On 29 Aug 2025 the top trending coins were Treehouse (TREE), Beldex (BDX), Pi Network (PI), Cronos (CRO), Ethereum (ETH), Succinct (PROVE), Solana (SOL), Render (RNDR), Bio Protocol (BIO) and XRP. Cronos remains popular despite being one of today’s biggest losers, as traders continue to watch the project after Trump Media’s announced $6.4 billion CRO treasury and partnerships.
Bitcoin & Ethereum price movement
The table below summarises the intraday performance of the two largest cryptocurrencies. Prices and highs/lows are sourced from CoinMarketCap as at 29 Aug 2025.
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. in USD) | $111,323.19 | $4,485.34 |
| Price (approx. in INR) | ₹99,61,400 | ₹401,160 |
| 24‑h % change | ≈ +1.35 % | ≈ +1.88 % |
| 24‑h high | $113,450.08 / ₹1,01,50,700 | $4,629.03 / ₹414,400 |
| 24‑h low | $111,169.62 / ₹99,47,700 | $4,435.11 / ₹396,900 |
| Market sentiment | Neutral; Fear & Greed index around 47 – 50 | Neutral; approaching record highs, still down ~9.6 % from the Aug 24 all‑time high |
Despite the whale‑induced sell‑off earlier this week, both BTC and ETH remain in uptrends and maintain strong institutional interest. Bitcoin must hold above $110 k to avoid deeper corrections, while Ethereum traders eye the previous high near $4.95 k.
Top gainers (altcoins)
CoinMarketCap’s gainers‑and‑losers board (filtering out extremely low‑volume coins) shows that Pyth Network (PYTH) leads today’s rallies with a nearly 94 % surge. Below are the top performers with commentary:
| Coin | 24‑h change | Why it’s moving |
|---|---|---|
| Pyth Network (PYTH) | +93.83 % | The oracle project jumped after the U.S. Department of Commerce selected Pyth to publish economic statistics on‑chain. The partnership brings government data (GDP, inflation) directly to blockchains and boosted the token from $0.11 to $0.20 in a day. Technical indicators turned bullish, drawing buyers. |
| Conflux (CFX) | +8.45 % | Conflux continues to ride momentum from July’s ecosystem upgrades. The token rallied after partnerships with OrcaMind.AI (AI‑powered payments) and Fufuture (DeFi perpetual trading) and the launch of an offshore yuan‑pegged stablecoin. These integrations expand Conflux’s utility and attracted Chinese investors. |
| Pump.fun (PUMP) | +6.98 % | A memecoin launchpad; daily volume surged as retail traders chased meme‑coin campaigns. |
| Four (FOUR) | +6.82 % | A low‑cap project that spiked on speculative interest. Traders rotated into micro‑caps after large‑cap consolidation; high volatility should be expected. |
| Ethena (ENA) | +5.76 % | ENA climbed as its USDe synthetic dollar and yield‑bearing “hedged stablecoin” gained adoption. The protocol’s high yields attract liquidity, and cross‑chain expansions supported sentiment. |
These gains reflect a renewed appetite for risk‑on plays. However, traders should exercise caution and employ stop‑losses when chasing small‑cap rallies.
Top losers (altcoins)
The biggest decliners largely reflect profit‑taking and project‑specific concerns. Cronos heads the list after an exceptional rally earlier in the week; PENDLE fell on governance jitters.
| Coin | 24‑h change | Reason for decline |
|---|---|---|
| Cronos (CRO) | −12.30 % | CRO surged over 50 % after Trump Media and Crypto.com announced a $6.4 billion CRO treasury and a $5 billion credit line for Truth Social. Today’s drop likely reflects profit‑taking and volatility following the news‑driven spike. |
| Pendle (PENDLE) | −6.35 % | AInvest reports that PENDLE slid 12.47 % earlier this week due to uncertainty over a pending protocol upgrade and liquidity shifting to competing DeFi platforms. Despite the pullback, the token remains up thousands of percent YTD. |
| Aerodrome Finance (AERO) | −5.46 % | After rallying strongly in August (spiking 16–29 % on multiple days), AERO faced profit‑taking and reduced trading volume. Investors await further ecosystem updates. |
| Hyperliquid (HYPER) | −5.16 % | The perpetual‑futures exchange token retreated with derivative volumes easing following extreme leverage earlier in the week. |
| Tezos (XTZ) | −4.56 % | XTZ fell amid speculation that competitors’ proof‑of‑stake networks are gaining traction. Staking yields and network activity remain tepid, prompting rotation to newer projects. |
Other notable decliners include SPX6900 (–3.82 %), Aave (–3.61 %) and Curve DAO (–3.47 %). Many of these tokens have rallied strongly in recent weeks and are undergoing short‑term corrections.
Coins to watch and tomorrow’s outlook
Treehouse, Beldex & Pi Network: These little‑known projects top India’s trending list, implying surging local interest. Investors should research fundamentals before investing; volatility is high.
Cronos: Despite today’s pullback, CRO remains in the spotlight after Trump Media’s massive treasury plan. Continued announcements could spur further moves. Watch whether support holds around $0.25–0.30.
Pyth Network: The U.S. government partnership is a game‑changer. Traders may use the breakout level near $0.20 as reference, but extreme volatility is expected.
Bitcoin & Ethereum: Macro data due tomorrow (U.S. jobless claims, PMI figures) will influence risk sentiment. Holding above $110 k for BTC and $4.4 k for ETH could invite further upside; failure may lead to consolidation.
Outlook for tomorrow (30 Aug 2025)
Markets remain neutral. Key drivers to watch include:
- U.S. economic indicators: ISM manufacturing PMI, jobless claims and personal consumption data will signal whether the Federal Reserve might cut rates. Weak data typically boosts crypto.
- Regulatory headlines: Updates on India’s proposed crypto taxation and derivatives regulation following the surge in unregulated futures trading.
- Altcoin rotation: After a week of speculative rallies and sharp pullbacks, traders may rotate back into large caps or stablecoins. Monitoring trading volume and funding rates can provide clues.
Overall, the Indian crypto market displays resilience amid global macro uncertainty. While altcoins offer high potential returns, investors should remain cautious, diversify their portfolios and stay informed about regulatory developments and macroeconomic data.
