Traders stay cautious as US policy shifts and regulatory clarity drive mixed sentiment across global crypto markets.
Whale accumulation and renewed regulatory optimism offer cautious hope for a Bitcoin rebound
Photo Credit: Unsplash/Kanchanara
Bitcoin's price hovered near the $103,500 (roughly Rs. 91.7 lakh) mark on Wednesday as the market showed signs of consolidation following a volatile start to the week. Traders continued to digest a series of macro developments, including the end of the 40-day US government shutdown and new regulatory updates shaping the future of crypto markets. Ethereum (ETH) followed a similar trajectory, falling 2.7 percent to $3,400 (roughly Rs. 3 lakh). According to the Gadgets 360 price tracker, Bitcoin is priced around Rs. 91.6 lakh in India, while Ethereum trades at roughly Rs. 3 lakh.
Most major altcoins traded lower as cautious sentiment prevailed across the global crypto market. Solana (SOL) dropped 5.1 percent to $156 (roughly Rs. 13.8 lakh), XRP fell 2.5 percent to $2.40 (roughly Rs. 2.13 lakh), and Binance Coin (BNB) slipped 2.3 percent to $960 (roughly Rs. 85.1 thousand). Dogecoin (DOGE) fell by 3 percent to $0.17 (roughly Rs. 15.3).
According to Edul Patel, CEO of Mudrex, Bitcoin is consolidating within a narrow range as investors look for clarity amid improving macro conditions. “Bitcoin is consolidating around the $103,300 (roughly Rs. 91.6 lakh) level, even as the U.S. moves to end its 40-day government shutdown. Despite the cautious tone, investor sentiment remains resilient with the release of the US crypto market structure bill [...] A clear breakout above $106,000 (roughly Rs. 93.9 lakh) would signal renewed bullish momentum.”
Avinash Shekhar, Co-Founder and CEO of Pi42, said that the market is still navigating mixed cues despite modest ETF inflows. “Liquidity has returned selectively, but both institutional and retail participation remain subdued, keeping overall sentiment fragile. Ethereum is trying to defend the $3,500 (roughly Rs. 3.1 lakh) support zone, with buyers eyeing a potential move toward $4,300 (roughly Rs. 3.8 lakh) if conviction strengthens [...] For now, investors should prioritise risk management. Patience and discipline will ultimately reward those who wait for clearer confirmation on liquidity and on-chain momentum.”
The CoinDCX Research Team observed that Bitcoin's short-term pullback has pressured the overall crypto market, although broader developments suggest improving sentiment. “The overall market sentiment has turned bearish and fearful while the market capitalisation tanks below $3.5 trillion (roughly Rs. 3,10,13,000 crore). The top gainers for the day are Canton with over a 16.6 percent jump, followed by Decred by over 7.73 percent and MYX Finance by over 5.63 percent.”
The market remains in a wait-and-watch phase as investors assess the impact of the US crypto market structure bill, upcoming ETF launches, and macroeconomic indicators. If whales maintain their buying momentum and liquidity conditions stabilise, Bitcoin could attempt to break past the $106,000 resistance level before the weekend.
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