Bitcoin rose to $93,300 (roughly Rs. 84.1 lakh) on Wednesday after a strong V-shaped rebound restored bullish momentum across the crypto market. Sentiment improved sharply as the US Federal Reserve officially ended Quantitative Tightening and injected $13.5 billion (roughly Rs. 1,21,525 crore) into funding markets, expanding liquidity conditions. Meanwhile, institutional participation increased after major firms eased access to crypto exposure, helping reinforce confidence. Ethereum (ETH) traded near $3,000 (roughly Rs. 2.75 lakh). As per the Gadgets 360 tracker, Bitcoin is priced around Rs. 84.1 lakh in India, while Ethereum trades near Rs. 2.75 lakh.
Altcoins Rebound Sharply as Liquidity Improves
Altcoins posted strong gains in line with Bitcoin’s surge. Solana (SOL) rose to $142 (roughly Rs. 12,807), XRP reached $2.19 (roughly Rs. 198), and Binance Coin (BNB) traded at $894.85 (roughly Rs. 80,707). Dogecoin (DOGE) stood at $0.14 (roughly Rs. 13.5).
Riya Sehgal, Research Analyst, Delta Exchange, said Bitcoin’s surge was driven by renewed demand and ETF activity. “Bitcoin staged a powerful rebound, surging nearly 7 percent after the US market opened. The catalyst came from Vanguard’s reversal of its Bitcoin ETF ban, unlocking new demand through BlackRock’s $IBIT, which saw over $1.8 billion (roughly Rs. 1,62,270 crore) in trading volume within two hours […] Ethereum gained 8.7 percent, reclaiming $3,000 (roughly Rs. 2.70 lakh) amidst renewed optimism. Technically, BTC faces resistance near $93,000–$94,000 (roughly Rs. 84.1 lakh–Rs. 84.9 lakh), while ETH must clear $3,100 (roughly Rs. 2.79 lakh) to confirm a bullish breakout.”
The CoinSwitch Markets Desk said institutional accessibility and macro shifts are reinforcing momentum. “This broader accessibility, combined with rising expectations of a December Fed rate cut, has helped restore short-term confidence. Key levels to watch are $90,000 (roughly Rs. 81.1 lakh) support and $92,500 (roughly Rs. 83.3 lakh) resistance […] Especially if ETF inflows continue and macro sentiment remains supportive.”
Akshat Siddant, Lead Quant Analyst at Mudrex, said renewed liquidity is driving Bitcoin’s surge.
“US financial institutions have also ramped up their use of repo facilities, further supporting risk assets. At the same time, Bitcoin exchange reserves have dropped to multiyear lows of 2.19 million BTC, contributing to the buying pressure. Trading near $93,000 (roughly Rs. 84.1 lakh), BTC now faces resistance at $96,000 (roughly Rs. 86.4 lakh), with solid support building at $87,800 (roughly Rs. 79.1 lakh).”
Falling exchange reserves and new channels of crypto participation from major financial players have contributed to improving sentiment, keeping traders cautiously optimistic despite 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.
