After a brief dip below the $110,000 (roughly Rs. 97 lakh) mark, Bitcoin made a strong recovery, trading around $112,500 (roughly Rs. 99.4 lakh) on Wednesday. This rebound was largely driven by improved investor sentiment following US Federal Reserve Chair Jerome Powell’s recent comments, which hinted at a possible interest rate cut in the coming months. Powell also cautioned that trade policies and tariffs could fuel inflation. Nevertheless, his remarks helped stabilize broader risk assets, even as traders navigated ongoing volatility and ETF outflows. Ethereum mirrored Bitcoin’s trajectory, hovering around $4,100 (roughly Rs. 3.6 lakh). On Indian exchanges, Bitcoin was priced near Rs. 99.4 lakh and Ethereum around Rs. 3.6 lakh, according to the Gadgets 360 price tracker.
Altcoins Consolidate as Market Stabilises After Pullback
Other major altcoins traded within tight ranges as the market absorbed recent fluctuations. Binance Coin (BNB) was valued at $1,205 (roughly Rs. 1.06 lakh), while XRP remained close to $2.50 (roughly Rs. 220). Solana (SOL) saw trading around $204 (roughly Rs. 18,000), and Dogecoin (DOGE) held at $0.20 (roughly Rs. 17.70).
Avinash Shekhar, Co-Founder and CEO of Pi42, emphasized the market’s sensitivity, noting, “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 pointed to escalating US-China trade tensions and new port fees as factors contributing 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, commented that Powell’s statements provided a modest boost to optimism, even as traders remained wary. “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.”
The CoinDCX Research Team highlighted the underlying resilience of broader fundamentals. “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 observed.
Analysts suggest that the near-term trajectory of the market will largely depend on the Federal Reserve’s monetary policy and broader macro-economic developments, particularly concerning global trade. Despite increased volatility, current market data suggests that traders are gradually repositioning for a more sustained recovery in the coming weeks.