Bitcoin may hit $140k-$145k by Nov 2025: Sumit Gupta, Co-founder, CoinDCX

Sumit Gupta, Co-founder of CoinDCX, a crypto trading platform, believes that Bitcoin (BTC) has entered the second half of 2025 with strong tailwinds and expects the flagship cryptocurrency to reach a new all-time high. In an email interview with Kumar Gaurav, Gupta shares his views on the outlook for cryptocurrencies. Edited excerpts:

Bitcoin touched an all-time high in May but fell below $100,000 before rebounding. What’s driving this volatility?

Bitcoin’s pullback after hitting an all-time high in May wasn’t unexpected. Historically, whenever Bitcoin breaks new ground, a period of heightened volatility often follows. This time was no different. Around May 21, geopolitical tensions flared between Iran and Israel, rattling global markets across the board. 

 

What compounded the drop was clear in trading volume. Without fresh inflows to sustain the rally, the price started to roll over. And naturally, we saw profit-taking kick in. 

 

From the technical prospectus, the momentum indicators like the Stock RSI were flashing bearish crossovers, suggesting that upside strength was fading. 

Has investor behaviour on CoinDCX changed during this volatility — are more people booking profits or buying the dip?

During recent volatility, we have seen a balanced split, seasoned traders booking profits near the top, while long-term believers are using the dips to accumulate. The presence of both these cohorts shows how far the Indian crypto investor base has evolved. Traders are adapting to market cycles using tools like stop-losses, limit orders, and futures hedging, while new users are increasingly entering with SIPs and long-term plans. 

Which altcoins are currently seeing the most traction on CoinDCX amid Bitcoin’s price swings?

Investors are increasingly reallocating profits into select altcoins that exhibit momentum. The key tokens gaining traction include Ethereum (ETH), Ripple (XRP) Solana,(SOL) and  Shiba Inu (SHIB). CoinDCX’s own ‘proof of reserves’ filings reveal ETH, XRP and  SOL consistently rank among the top-traded tokens on the platform.

How are the Indian crypto investors reacting to this volatility? Has there been a shift in trading volumes or coin preferences on CoinDCX?

We have seen spot volumes rise significantly, from $216 million in October 2024 to $492 million by May 2025. This pattern reflects a familiar cycle: investors tend to step in during periods of heightened volatility and pull back once markets stabilise. 

 

What’s important to know though, is the profile of participants. There’s a visible shift, with more experienced traders, particularly those from equity markets, engaging with greater intent. 

 

The availability of institutional-grade tools and improving regulatory clarity is encouraging a more sophisticated, professional investor base to participate in this evolving asset class.

Do you foresee regulatory clarity in India this year — and how would that impact platforms like yours and overall investor sentiment?

Regulatory clarity will definitely be a defining moment, not just for platforms like ours, but for millions of Indian investors who are looking for long-term confidence in this asset class. We are optimistic that the upcoming discussion paper will mark a crucial step forward, giving stakeholders a formal channel to engage constructively. That’s the kind of inclusive approach the ecosystem needs.

 

At CoinDCX, we have always believed in building ahead of regulation with a deep focus on trust, compliance, and user protection. There remains a sizable segment of institutional investors who are currently on the sidelines, cautious and uncertain due to the lack of clear regulatory direction. Once clarity emerges, many of them are likely to enter the market with conviction.

What is your outlook for Bitcoin in the second half of 2025? Do you think we will see a new all-time high soon?

Bitcoin enters H2 2025 with strong tailwinds. We have seen steady ETF inflows and broader macro support, which makes a retest of the previous all-time high not just possible, but very likely, especially heading into Q4. The $112,000 – $115,000 zone may continue to act as short-term resistance through July, but if momentum builds, we could see Bitcoin pushing toward the $140,000 – $145,000 range by November.

 

Much will depend on how global liquidity evolves post-FOMC and how market sentiment shifts. Historically, Q4 has been a strong period for Bitcoin, and a year-end rally, potentially toward $150,000, is on the table if macro conditions align. 

With global economic uncertainties and expected Fed rate cuts this year, what macro signals are most influencing Bitcoin’s price right now?

In the second half of 2025, Bitcoin’s price trajectory will likely be influenced most by global liquidity and monetary policy direction. Historically, Bitcoin has shown a strong tendency to rally during periods of rising M2 money supply and central bank easing.

 

If the US Fed and other central banks move ahead with rate cuts, or even signal a pause in tightening, we could see Bitcoin gain further ground as a hedge against currency debasement. 

 

There’s a growing belief that looser global monetary policy could push BTC toward the $130,000 to $185,000 range by year-end, especially if inflation remains sticky. That said, any unexpected rate hikes could trigger short-term corrections, potentially testing key support levels around $90,000 – $95,000.