A break below support, analysts said, could trigger deeper corrections, while historical trends suggest that sustained levels may pave the way for a short-term relief rally
Commenting on the ongoing volatility in Bitcoin, Eric acknowledged the sharp price swings but remained optimistic about its long-term potential
Glassnode's latest weekly on-chain assessment places Bitcoin well below its estimated 'true market mean' near $79,000
The flagship token briefly slipped below $68,000 before recovering to $68,500, maintaining a sideways range between $65,000 and $70,000 over the past ten days
A strong recovery in Bitcoin above $70,000, analysts believe, could help restore broader market confidence, while failure to hold current supports may trigger another wave of risk-off sentiment
In the Union Budget 2022-23, the government clearly defined VDAs such as cryptocurrencies and NFTs under the Income Tax Act for the first time
Extreme volatility is nothing new to cryptocurrencies, but Bitcoin's slump from a peak of $126,000 in October last year comes despite the backdrop of a crypto-friendly White House and surging adoption
Crypto markets have remained under pressure since October last year, after Bitcoin scaled its peak and has since been on a declining trajectory
Cryptocurrencies have been on shaky ground ever since a brutal series of liquidations in October that sapped market confidence
Altcoins followed a similar risk-off trajectory. Ethereum, BNB and Solana reflected weaker bid depth during the pullback
The data will be shared under the OECD-led Crypto-Asset Reporting Framework, enabling automatic exchange of crypto transaction details between tax authorities
Contracts on Polymarket, a decentralized prediction platform, now imply an 82% chance that Bitcoin will fall to $65,000 this year, a level roughly 13% lower than today's $73,200
The framework includes Rs 50,000 fine for furnishing inaccurate information or failing to rectify inaccuracies
Until macro stability returns and ETF inflows resume, crypto markets, analysts believe, are likely to remain defensive
The Finance Bill introduces penalties for delayed or inaccurate crypto transaction reporting, including a ₹200-per-day fine and a ₹50,000 penalty for uncorrected errors
Bitcoin slipped below the $80,000 mark after failing to hold above $89,000, with the decline exacerbated by thin weekend liquidity
Bitcoin fell as much as 3.9 per cent to $81,102 Friday in Singapore, its weakest since Nov 21, extending a rout that gathered pace overnight
Macro conditions also weighed on sentiment. Analysts noted that risk appetite softened across global markets as investors reassessed the outlook for monetary easing
Amid this, more than $1.5 billion in outflows from spot Bitcoin ETFs this week, analysts said, point to a near-term moderation in institutional risk appetite
The survey, conducted ahead of the 2026 Union Budget, gathered insights from close to 5,000 respondents, highlighting widespread discontent over the current taxation framework