Post by : Rameen Ariff

Bitcoin briefly fell below $110,000 (around Rs. 97 lakh) but quickly rebounded to trade near $112,500 (around Rs. 99.4 lakh) on Wednesday, after investor sentiment improved following US Federal Reserve Chair Jerome Powell's dovish comments hinting at a possible interest rate cut in the coming months. Powell also warned that trade policies and tariffs could increase inflation, prompting traders to closely monitor macroeconomic developments. His remarks helped stabilize broader risk assets even as the market processed residual volatility and ETF outflows. Ethereum followed a similar trend, trading around $4,100 (roughly Rs. 3.6 lakh) while Bitcoin remained near Rs. 99.4 lakh and Ethereum hovered around Rs. 3.6 lakh on Indian crypto exchanges, according to Gadgets 360.

Top altcoins traded in narrow ranges as the market consolidated following recent volatility. Binance Coin stood at $1,205 (around Rs. 1.06 lakh), XRP traded near $2.50 (approximately Rs. 220), Solana was around $204 (roughly Rs. 18,000) and Dogecoin hovered at $0.20 (around Rs. 17.70). Avinash Shekhar, Co-Founder and CEO of Pi42, noted that the recent wave of liquidations shows how sensitive the crypto market remains, with over 210,000 traders liquidated within 24 hours. Such large-scale liquidations often trigger short-term volatility across Bitcoin and major altcoins.

The CoinSwitch Markets Desk highlighted that escalating US-China trade tensions and new port fees have added to market caution. The crypto market experienced a mild pullback as these developments weighed on risk sentiment. Recent leverage unwinds contributed to short-term volatility but may also help reset market positions for healthier accumulation. Edul Patel, CEO of Mudrex, said Powell's comments provided a mild boost to optimism, helping Bitcoin maintain upward momentum despite ETF outflows and renewed US-China trade concerns. Investors are also keeping an eye on the Strategic Bitcoin Reserve, which now totals $36 billion (around Rs. 3,18,000 crore) following the largest Department of Justice forfeiture in history.

According to the CoinDCX Research Team, the broader market fundamentals remain resilient. Some cryptocurrencies recorded modest gains, with Aster leading the top gainers for the day, followed by Monero, Bittensor, and Zcash. On the other hand, Artificial Superintelligence Alliance, SPX6900, and MYX Finance saw declines. These movements suggest that traders are cautiously realigning positions for a potential recovery in the coming weeks.

In other developments, Bhutan has migrated its national ID system to the Ethereum blockchain, showcasing an example of blockchain adoption in Asia. Meanwhile, in India, the Income Tax Department has targeted over 400 Binance traders as part of a crackdown on tax compliance in the crypto space. Analysts believe that the near-term trajectory of the crypto market will depend on the Federal Reserve's monetary policies, developments in US-China trade, and overall regulatory actions. Despite increased volatility, market data indicate that traders are positioning themselves for a broader recovery, providing cautious optimism for crypto investors in the coming weeks

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