Bitcoin continued its impressive upward climb on Monday, trading comfortably above $115,500 (approximately ₹1.01 crore). This rally was largely driven by a significant boost in investor confidence, thanks to improving US-China trade relations and growing expectations of an upcoming Federal Reserve interest rate cut. The easing of geopolitical tensions and encouragingly soft inflation data have sparked renewed buying activity across the entire digital asset market. According to CoinMarketCap, Bitcoin saw a 3.5 percent increase over the last 24 hours, while Ethereum (ETH) outperformed, gaining 7.1 percent to reach $4,200 (approximately ₹3.7 lakh). On major Indian exchanges, Bitcoin was priced around ₹1.01 crore, and Ethereum around ₹3.7 lakh, according to the Gadgets 360 price tracker.
Altcoins Extend Gains as Market Sentiment Shifts to Neutral
Following a strong bullish weekend, major altcoins mirrored Bitcoin’s performance, extending their rallies into Monday. Binance Coin (BNB) was trading at $1,151 (approximately ₹1.01 lakh), XRP hovered around $2.65 (approximately ₹233), Solana (SOL) surged to $204.53 (approximately ₹18,010), and Dogecoin (DOGE) climbed over 6 percent to reach $0.21 (approximately ₹18.48).
The total global crypto market capitalization saw a 3.82 percent increase, reaching an impressive $3.91 trillion (approximately ₹3,43,00,00,000 crore). Concurrently, the Crypto Fear and Greed Index improved to 42, signaling a clear shift in market sentiment from ‘fear’ towards a more ‘neutral’ stance.
According to the CoinDCX Research Team, the weekend brought strong momentum for digital assets. They noted, “The past weekend turned out to be quite bullish for crypto markets as most tokens successfully broke past key resistance levels. Ethereum reclaimed the $4,200 (approximately ₹3.70 lakh) mark, Litecoin hit $100 (approximately ₹8,800), Solana crossed $200 (approximately ₹17,600), and Bitcoin surged to $115,000 (approximately ₹1.01 crore). The top performers included Virtuals Protocol, Zcash, and Dash, with gains of 30 percent, 29 percent, and 21.5 percent, respectively,” the team said.
The CoinSwitch Markets Desk commented on the macroeconomic factors influencing market direction. They stated, “The crypto market experienced a lift as progress in US–China trade talks alleviated geopolitical risk. Bitcoin is currently encountering resistance near $116,000 (approximately ₹1.02 crore) and finds support between $109,000–$110,000 (approximately ₹95.9 lakh-₹96.8 lakh). This suggests a period of potential consolidation might occur before the Federal Reserve’s upcoming policy decision.”
Mudrex CEO Edul Patel attributed the latest rally to a combination of macroeconomic optimism and easing inflation. He explained, “Bitcoin’s breakout was confirmed following softer-than-expected inflation data, which came in at 3 percent. The successful US-China trade talks further boosted sentiment, igniting a significant relief rally.”
Avinash Shekhar, Co-Founder & CEO of Pi42, emphasized the close link between global macroeconomic events and crypto market movements. He observed, “Bitcoin’s breakthrough above $113,000 (approximately ₹99.5 lakh), driven by optimism surrounding a potential trade deal between the US and China, clearly demonstrates how deeply macroeconomic and geopolitical developments impact crypto markets. This indicates that Bitcoin’s price movements are increasingly connected to global risk sentiment and regulatory clarity. While the current rally is encouraging, a short-term consolidation or pullback could occur if trade talks falter or investors decide to take profits.”
Analysts widely believe that increased institutional participation, clearer regulatory policies, and the anticipation of a Federal Reserve rate cut are collectively creating a supportive environment for the cryptocurrency market. The upcoming Fed meeting this week could further bolster market sentiment and potentially propel Bitcoin’s rally towards new all-time highs.