Bitcoin traded near $80,000 (roughly Rs. 76 lakh) on Monday, as the cryptocurrency market gained momentum amid strong ETF inflows and improving investor sentiment. The world’s largest cryptocurrency saw an increase of 1.96 percent in the last 24 hours, based on today’s CoinMarketCap data. Ethereum (ETH) was trading near $2,300 (roughly Rs. 2.18 lakh), reflecting positive movement across the broader crypto market. Bitcoin is currently priced around Rs. 75.8 lakh in India, while Ethereum trades near Rs. 2.18 lakh, as per today’s Gadgets 360 price tracker.
Analysts noted that renewed buying activity and improving risk appetite have helped BTC recover from recent support levels, while traders continue to watch key macroeconomic triggers and resistance zones.
ETF Demand and Institutional Interest Push Bitcoin Higher
Tracking Bitcoin’s upward movement, altcoins also posted gains, such as Binance Coin (BNB), which was priced around $632 (roughly Rs. 60,000), while Solana (SOL) traded near $85.13 (roughly Rs. 8,070). XRP hovered around $1.40 (roughly Rs. 133), and Dogecoin (DOGE) was trading close to $0.11 (roughly Rs. 10.5), indicating improving market participation.
Highlighting the latest market momentum, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “BTC closed April with an 11.87 percent gain, marking its strongest monthly performance in the past year. The momentum is expected to continue through May as traders place mid $80,000 as the next target […] The primary macro trigger for the coming sessions remains the Federal Reserve leadership transition, which continues to reprice risk asset expectations.”
Providing a broader perspective on the market rally, Raj Karkara, COO of ZebPay, said, “Bitcoin crossing the $80,000 (roughly Rs. 76 lakh) mark, for the first time in over 3 months, is more than just a price milestone, it reflects the asset’s resilience, growing maturity, and its ability to sustain long-term investor conviction through multiple market cycles […] Crypto markets naturally move through phases of expansion and correction, and moments like these reinforce that price fluctuations are an inherent part of an evolving asset class rather than a deterrent.”
Offering a detailed view of the current market structure, Vikram Subburaj, CEO of Giottus.com, said, “US spot Bitcoin ETFs added roughly $629.8 million (roughly Rs. 5,978 crore) on May 1. This reinforced institutional participation after late-April outflows of $263.2 million (roughly Rs. 2,499 crore) on April 27. On-chain data also show BTC reclaiming the $78,100 (roughly Rs. 74.1 lakh) True Market Mean. This often acts as a medium-term trend signal […] A staggered buying approach near $78,000 (roughly Rs. 74 lakh) support may offer better risk control than chasing momentum above $80,000 (roughly Rs. 75.9 lakh). Do not chase quick rallies. Wait for price confirmations and clear breaks.”
Overall, analysts said the crypto market continues to strengthen as institutional demand, ETF inflows, and improving sentiment support prices near key resistance levels. Bitcoin’s ability to sustain above the $80,000 (roughly Rs. 75.9 lakh) mark and attempt a move toward the $82,500–$85,000 (roughly Rs. 78.3 lakh–Rs. 80.7 lakh) range will remain central to near-term direction.
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