After briefly slipping below the $110,000 (roughly Rs. 97 lakh), Bitcoin rebounded to trade around $112,500 (roughly Rs. 99.4 lakh) on Wednesday as investor sentiment improved following US Federal Reserve Chair Jerome Powell’s dovish comments hinting at a possible rate cut in the coming months. Powell also issued a warning that trade policies and tariffs might increase inflation. Even as traders processed residual volatility and ETF outflows, the comments assisted in stabilising broader risk assets. Ethereum followed a similar trajectory, trading around $4,100 (roughly Rs. 3.6 lakh). Bitcoin trades near Rs. 99.4 lakh, while Ethereum hovered around Rs. 3.6 lakh on Indian exchanges, as per the Gadgets 360 price tracker.
Altcoins Consolidate as Market Stabilises After Pullback
Other top altcoins traded in narrow ranges as the market digested recent volatility. Binance Coin (BNB) stood at $1,205 (roughly Rs. 1.06 lakh), while XRP hovered near $2.50 (roughly Rs. 220). Solana (SOL) traded around $204 (roughly Rs. 18,000), and Dogecoin (DOGE) stood at $0.20 (roughly Rs. 17.70).
Avinash Shekhar, Co-Founder and CEO of Pi42, noted that the recent wave of liquidations underlines how sensitive the crypto market remains. “The recent market pullback highlights how fragile crypto sentiment remains, with over 210,000 traders liquidated within 24 hours. Such large-scale liquidations often create a ripple effect, intensifying short-term volatility across Bitcoin and major altcoins.”
The CoinSwitch Markets Desk said that escalating US-China trade tensions and new port fees have added to market caution. “The crypto market saw a mild pullback as escalating U.S.–China tensions weighed on risk sentiment […] Recent leverage unwinds have added to short-term volatility but may also be resetting market positioning for healthier accumulation. Cautious, low-leverage positioning remains prudent until clearer macro signals emerge.”
Edul Patel, CEO of Mudrex, said that Powell’s comments have provided a mild boost to optimism even as traders remain cautious. “Powell’s comments boosted optimism, helping BTC maintain upward momentum despite ETF outflows and renewed US-China tensions. Investors must keep an eye on any news regarding the Strategic Bitcoin Reserve as the US’s Bitcoin holdings grow to $36 billion (roughly Rs. 3,18,000 crore) following the largest forfeiture in Department of Justice history.”
CoinDCX Research Team highlights that broader fundamentals remain resilient. “Aster leads the top gainers for the day with over a 2.7 percent rise, followed by Monero with 2.49 percent and Bittensor & Zcash with over 1 percent each. On the other hand, Artificial Superintelligence Alliance drops by over 14.23 percent, followed by SPX6900 with over 10 percent and MYX Finance with 9.33 percent,” the CoinDCX Research Team noted.
Analysts believe that the market’s near-term trajectory will depend on the Fed’s monetary stance and macro developments around trade. Market data indicate that traders are progressively realigning for a more extensive recovery in the coming weeks, despite increased volatility.
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.
