The global cryptocurrency market offered a mixed picture on 28 Aug 2025. The total crypto market cap hovered around US$3.91 trillion and 24‑hour trading volumes were roughly US$174.91 billion, while Bitcoin continued to dominate at about 57.5 % market share and Ethereum at 14.1 %. Market sentiment was neutral—the Fear & Greed Index sat at 45/100—and altcoins showed pockets of exuberance and risk-off behavior. Below is an overview of price movements, top gainers and losers, key market cues, and a brief look at what may lie ahead for Indian crypto traders.
Market overview
Bitcoin & Ethereum price summary
On 28 Aug 2025 Bitcoin (BTC) traded around US$112,876, with bulls managing to keep the price above the important US$109 k support highlighted by analysts. CoinMarketCap data show that BTC’s 24‑hour high was about US$113,123 and the low near US$110,398. Converted using the ₹/US$ exchange rate of ₹87.614 per US dollar, BTC traded at roughly ₹9.89 million, with a high of ₹9.91 m and a low of ₹9.67 m. Analysts noted that momentum remained neutral‑to‑positive: options data indicated potential for a bounce toward US$116 k while US$109 k served as a critical support level. Net flows on exchanges also suggested that investors continued to withdraw BTC, hinting at a long‑term holding mindset.
Ethereum (ETH) was comparatively subdued, trading near US$4,568 (≈₹400,240) with a 24‑hour range of US$4,470–4,660. Despite the 24‑hour decline (≈ –1 %), ETH remained resilient after recently setting a new all‑time high around US$4,954 on Aug 24, buoyed by record inflows into Ethereum ETFs. Many traders eyed a US$5 k strike due to bullish option positioning with a sizable options expiry looming, although ETH’s momentum was still tied to BTC’s direction and macro‑economic cues.
Bitcoin & Ethereum price movement (28 Aug 2025)
| Metric | Bitcoin (BTC) | Ethereum (ETH) |
|---|---|---|
| Price (approx. in INR) | ₹9.89 million | ₹400,240 |
| Price (approx. in USD) | ≈ $112,876 | ≈ $4,568 |
| 24‑h % change | ≈ +1.3 % | ≈ –1.3 % |
| 24‑h high | $113,123 / ₹9.91 million | $4,659.99 / ₹408,280 |
| 24‑h low | $110,398 / ₹9.67 million | $4,470.65 / ₹391,481 |
| Market sentiment | Neutral–positive: analysts saw $109k as key support and a possible rebound toward $116k. | Slightly bullish: recent ETH ETF inflows and a forthcoming options expiry imply potential for a $5k breakout. |
Top gainers – altcoins that outperformed
Altcoins generated notable gains despite the uneven market. According to Moneycontrol’s live crypto tracker, iExec RLC (RLC) led the rally with a 60.48 % 24‑h surge. The jump was driven by a technical breakout that pushed the token above key resistance levels, renewed interest in staking rewards, and a broader narrative around decentralized computing. Numeraire (NMR) followed with a 28.4 % gain, fueled by growing adoption of Numerai’s data‑science tournaments and AI‑focused narrative. Catizen (CATI), Data Ownership Protocol (DOP1) and Exverse (EX) each gained ≈25 % amid speculation about new game releases and decentralised data‑rights initiatives.
Beyond these names, CoinMarketCap’s “Trending Cryptocurrencies” list showed strong activity in Solana, Cronos, Bio Protocol, Livepeer, Raydium, Succinct, BONDEX and BNB, with 24‑h gains ranging from ≈4 % to 49 %. Cronos (CRO) in particular jumped ≈49 % amid news that former U.S. president Donald Trump’s media company would develop content on Cronos’ blockchain, highlighting how news‑driven moves can fuel altcoin rallies.
Top gainers (Altcoins)
| Altcoin (ticker) | 24‑h change | Key reasons/comments |
|---|---|---|
| iExec RLC (RLC) | +60.48 % | Technical breakout and staking yields drove strong momentum; token utility broadened via upgrades, boosting investor confidence. |
| Numeraire (NMR) | +28.4 % | Benefited from the AI‑focused narrative and renewed attention on Numerai’s crowd‑sourced data‑science tournaments. |
| Catizen (CATI) | +24.94 % | Gains attributed to GameFi enthusiasm and anticipation of upcoming releases for the Catizen decentralised gaming platform. |
| Data Ownership Protocol (DOP1) | +23.26 % | Speculation around decentralised data‑rights initiatives and new partnerships boosted demand. |
| Exverse (EX) | +23.12 % | Traders piled into this metaverse‑and‑gaming token amid broad GameFi interest; low float amplified the move. |
Top losers – crypto coins facing sell‑offs
Risk‑off sentiment hit a number of smaller tokens. Moneycontrol flagged PBUX (Pow Blocks?) as the day’s biggest laggard with a –24.19 % drop, followed by Aurora (AURORA) (–19.4 %), Flock (FLOCK) (–18.44 %), Neon (NEON) (–18.05 %) and Zora (ZORA) (–13.52 %).
The decline in Aurora reflects more than general profit taking. CoinMarketCap’s AI analysis highlighted rumours that the 1inch decentralized exchange might deprecate support for the Aurora network, along with thin liquidity and a technical breakdown below key Fibonacci levels, as drivers behind the steep sell‑off. Flock had rallied days earlier after Hong Kong’s Generative AI Research Centre announced a partnership with FLock.io to develop decentralized AI models; the pullback appears to be a classic post‑announcement retracement. Other losers suffered from similar patterns: low‑capitalization tokens faced profit taking as traders rotated into larger caps.
Top losers (Altcoins)
| Altcoin (ticker) | 24‑h change | Reasons for decline |
|---|---|---|
| PBUX | –24.19 % | Thin liquidity; likely profit‑taking after a prior rally; little fundamental news. |
| Aurora (AURORA) | –19.4 % | Rumours that 1inch will deprecate Aurora support, low liquidity and a technical breakdown below support triggered steep declines. |
| Flock (FLOCK) | –18.44 % | Drop came after an earlier surge linked to a partnership announcement; investors appeared to lock in profits. |
| Neon (NEON) | –18.05 % | High volatility in this layer‑2 scaling token; profit‑taking and network‑upgrade uncertainty pressured price. |
| Zora (ZORA) | –13.52 % | Lack of fresh catalysts and rotation into other themes prompted selling. |
| Dolomite (DOLO) | –12.34 % | Thin trading volumes; price fell after earlier gains as traders looked to more liquid opportunities. |
Local & global cues shaping sentiment
Global factors
- Bitcoin reclaimed the US$112 k support – Analysts highlighted that staying above the 100‑day exponential moving average signals bullish momentum. Options data suggested bulls could target US$116 k–117 k if support holds; a break below US$112 k might open a US$102 k test.
- Ethereum options expiry & ETF inflows – A large options expiry worth roughly US$5 billion hinted at volatility. Record net inflows into Ethereum ETFs (≈US$455 million) contrasted with more modest Bitcoin ETF inflows. This divergence underscored investors’ belief that ETH could catch up to BTC.
- Regulatory news – The U.S. Commodity Futures Trading Commission (CFTC) partnered with Nasdaq to use advanced surveillance technology to combat market manipulation, signifying increased oversight and legitimacy. Meanwhile, a U.S. appeals court signalled that tougher sentences may be imposed in the US$575 million HashFlare fraud case, reminding the market of regulatory risks.
- Macro‑economic conditions – U.S. jobless claims and speculation about Federal Reserve rate cuts continued to influence risk assets. A weaker U.S. dollar lent support to crypto prices. Cronos’ 40 % surge following the Trump Media partnership underscored how idiosyncratic news can drive huge moves.
Local factors (India)
- Regulation remains in limbo – India’s finance ministry clarified that there are no immediate plans to regulate crypto. This uncertainty, combined with the 30 % tax on profits and 1 % TDS on transactions, continues to pressure domestic exchanges, many of which are moving operations abroad.
- Rupee near record lows – The Indian rupee traded around ₹87.61 per US dollar after a five‑session decline and is expected to remain weak. A weaker rupee inflates local crypto prices (denominated in INR) and may encourage arbitrage but also points to macroeconomic headwinds.
- Heavy taxation & data collection – The high tax burden with little data collected from the crypto sector limits institutional participation in India. Without clarity, traders prefer short‑term speculation, contributing to the pronounced swings seen in smaller altcoins.
Key coins to watch & trending themes
Beyond BTC and ETH, several altcoins are catching investors’ eyes:
- Solana (SOL) – Topped CoinMarketCap’s trending list; up around 4 % in 24 hours and 12 % over a week. Its high throughput and growing DeFi ecosystem continue to attract capital.
- Cronos (CRO) – Surged ≈49 % following the Trump Media announcement. Watch for consolidation after the spike.
- Bio Protocol (BIO) & Livepeer (LPT) – Both recorded double‑digit gains. BIO focuses on decentralized biological research funding, while LPT is a decentralized video transcoding network.
- iExec RLC (RLC) – Besides being the top gainer, RLC has strong staking yields and emerging partnerships.
- Numeraire (NMR) – Gains reflect enthusiasm for predictive AI models; continued adoption could sustain momentum.
- Raydium (RAY) & Succinct (PROVE) – Solana‑based decentralized exchange Raydium and zero‑knowledge proof project Succinct both saw solid gains.
- BonDex (BDXN) and BNB Attestation Service (BAS) – lesser‑known tokens but trending due to community hype.
Outlook for tomorrow (29 Aug 2025)
Looking ahead, crypto traders in India should prepare for continued volatility:
- Technical watch levels: BTC’s short‑term structure remains bullish above US$109 k. A decisive break above US$113 k could attract momentum traders aiming for US$116 k–117 k, while a drop below US$112 k would expose the US$102 k region. For ETH, watch the US$4,470 support and US$4,900–5,000 resistance.
- Options expiry & ETF flows: The upcoming US$5 billion ETH options expiry may inject volatility. Continued inflows into ETH‑related ETFs and outflows from exchanges could support prices. Although any negative macro news might quickly reverse sentiment.
- Macro‑economic data: U.S. labour market updates, inflation data and signals from Federal Reserve officials could sway global risk appetite. A stronger U.S. dollar or higher bond yields might pressure crypto.
- Indian regulatory news: Watch for statements from India’s finance ministry or the Reserve Bank of India about crypto taxation or regulation. Any hint of tax relief or legal clarity could rejuvenate domestic volumes; conversely, further tightening could dampen enthusiasm.
- Altcoin rotation: The day’s biggest winners often see profit‑taking the next session, while laggards may experience reflexive bounces. Traders should manage risk carefully and be aware that small‑cap tokens are susceptible to large swings.
Conclusion
The Indian crypto market on 28 Aug 2025 saw a balanced but cautious mood. Bitcoin and Ethereum held above key support levels, while select altcoins delivered impressive gains. Global cues such as crypto‑related ETF inflows and regulatory developments supported sentiment, yet local uncertainty around taxation and the rupee’s weakness kept many traders on edge. As the week progresses, investors should monitor macro‑economic data, options expiries and policy signals. The crypto markets remain highly dynamic with opportunities abound, but managing risk is paramount.
