Bitcoin traded near $81,000 (roughly Rs. 77.7 lakh) on Friday, as the cryptocurrency market strengthened after progress on the US CLARITY Act improved sentiment around digital asset regulation. The world’s largest cryptocurrency witnessed an increase of 0.9 percent in the last 24 hours, based on today’s CoinMarketCap data. Ethereum (ETH) was trading near $2,300 (roughly Rs. 2.24 lakh), reflecting positive movement across the broader crypto market. Bitcoin is currently priced around Rs. 77.2 lakh in India, while Ethereum trades near Rs. 2.14 lakh, as per today’s Gadgets 360 price tracker.
According to market participants, Bitcoin moved above the $81,000 (roughly Rs. 77.7 lakh) level as investors responded positively to regulatory developments, stronger US equity markets, and improving risk sentiment across global markets, despite recent ETF outflows and macroeconomic uncertainty.
Broader crypto assets traded mixed on Friday, with selective buying emerging across large-cap tokens. Binance Coin (BNB) was priced around $676.54 (roughly Rs. 64,910), while Solana (SOL) traded near $94.84 (roughly Rs. 9,100). XRP hovered around $1.44 (roughly Rs. 138), and Dogecoin (DOGE) was trading close to $0.11 (roughly Rs. 11.2).
Proposed Bill Aims to Define SEC and CFTC Oversight of Digital Assets
Explaining the latest market momentum, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “BTC is now trading near $81,500 (roughly Rs. 78.1 lakh), with markets expecting the regulatory clarity to bring back institutional money after recent Bitcoin ETF outflows of $863 million (roughly Rs. 8,278 crore). Strong performance in US equity markets is also supporting the broader risk-on mood. If inflows into crypto continue to improve, Bitcoin could move toward $85,000 (roughly Rs. 81.5 lakh). On the downside, a break below $78,000 (roughly Rs. 74.8 lakh) may lead to a pullback toward the $75,000 (roughly Rs. 71.9 lakh) zone.”
Commenting on the significance of the proposed legislation, Ashish Singhal, Co-Founder at CoinSwitch, said, “The CLARITY Act is a significant moment for the global crypto industry because it finally attempts to address one of the ecosystem’s biggest unresolved challenges i.e. regulatory clarity around digital assets […] The market is viewing the CLARITY Act as a strong signal that crypto regulation in the US is entering a more mature phase. Frameworks like these could eventually become important global reference points for how digital assets are regulated and integrated into the broader financial system.”
Sharing his perspective on the bill’s broader implications, Nischal Shetty, Founder of WazirX, said, “The CLARITY Act clearing the Senate Banking Committee is good news for anyone who holds or trades crypto. For years, exchanges operating in the US did not know which regulator they answered to. Both the SEC and the CFTC claimed authority over the same assets, with no clear boundary between them […] For Indian users, this is a positive development. India has millions of VDA holders, and no comprehensive framework exists currently. The US resolving this gives Indian policymakers a working reference model along with other existing frameworks such as MiCA.”
Overall, analysts said the crypto market has turned more optimistic following progress on the CLARITY Act and improving sentiment across risk assets. Bitcoin’s ability to hold above the $80,000 (roughly Rs. 76.7 lakh) support zone and sustain momentum toward the $85,000 (roughly Rs. 81.5 lakh) level will remain central to near-term market direction.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
