Bitcoin’s price fell to around $96,800 (roughly Rs. 85.8 lakh) on Friday as the crypto market came under renewed selling pressure amidst a sharp liquidity squeeze and broad risk-off sentiment. The drop below the key $100,000 level has unsettled traders, with leveraged unwinds, thin market participation, and weak institutional flows weighing heavily on price action. Ethereum (ETH) dropped more than 10 percent over the past 24 hours to trade near $3,100 (roughly Rs. 2.80 lakh). According to the Gadgets 360 price tracker, Bitcoin is priced around Rs. 71 lakh in India, while Ethereum trades at roughly Rs. 2.3 lakh.
Altcoin Losses Deepen as Liquidity Stress Hits Broader Market
Major altcoins posted another day of heavy declines as traders continued to unwind risk positions. Solana (SOL) fell 9.4 percent to $141.83 (roughly Rs. 12,586), XRP declined 8.4 percent to $2.29 (roughly Rs. 203), and Binance Coin (BNB) dropped 5.8 percent to $912.99 (roughly Rs. 81,019). Dogecoin (DOGE) also slipped 7.4 percent to $0.1630 (roughly Rs. 14.47).
Riya Sehgal, Research Analyst at Delta Exchange, said the global shift toward risk-off sentiment is accelerating volatility across assets. “Bitcoin on-chain patterns point to measured profit-taking by long-term players, behavior that typically appears in the later stages of an expansionary phase. Technically, BTC remains constrained beneath major moving averages, with immediate resistance around $101,500–$103,200 (roughly Rs. 90 lakh–Rs. 91.5 lakh) and key support near $98,500 (roughly Rs. 87.4 lakh).”
Avinash Shekhar, Co-Founder and CEO of Pi42, said Bitcoin’s breakdown reflects deeper structural stress in the market rather than a routine correction. “Crypto market is under renewed pressure as Bitcoin breaks below the psychological threshold of $100,000 (roughly Rs. 88.7 lakh), trading near $96,000 (roughly Rs. 85.1 lakh) amidst a sharp liquidity squeeze and broad risk-off sentiment […] Institutional and retail flows remain muted, making near-term price action highly vulnerable unless liquidity meaningfully returns. As always, investors should do their own research and assess risks carefully before investing.”
The CoinSwitch Markets Desk noted that Bitcoin is consolidating within a narrow but fragile band. “While the U.S. government has officially ended the shutdown, the restart of federal operations may take time, meaning key economic indicators could still face delays, keeping investors cautious […] However, sentiment may improve in the coming weeks as markets look ahead to the Federal Reserve’s expected QE in December, which could restore liquidity and revive risk appetite.”
Market sentiment remains extremely cautious as traders assess whether support at $96,800 (roughly Rs. 85.9 lakh) can hold in the coming sessions. Bitcoin’s ability to reclaim the $100,000 (roughly Rs. 88.74 lakh) mark will depend heavily on fresh liquidity flows, whale activity, and clearer macro signals in the days ahead.
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.
