Analysts caution that near-term uncertainty persists due to derivatives expiries, macroeconomic risks, and continued correlation with broader risk assets
Strength spilled into the altcoin complex, where Cardano, Solana, BNB, XRP, and Hyperliquid advanced as much as 8 per cent
Globally, investor sentiment has shifted to extreme fear, leading to reduced risk appetite and capital rotation into safer assets such as precious metals, says Gracy Chen, CEO, Bitget
Broader market stability, analysts said, is likely to hinge on easing macro headwinds and a rebound in capital flows, conditions that remain elusive in the current environment
The sell-off in crypto markets, analysts said, was driven by global risk-off sentiment following Trump's tariff announcement
India, to truly excel in Web3, Sumit Gupta of CoinDCX said, must move beyond reactive policies and craft regulations that foster innovation, protect consumers, address risks, and provide clarity
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
Crypto markets have remained under pressure since October last year, after Bitcoin scaled its peak and has since been on a declining trajectory
Altcoins followed a similar risk-off trajectory. Ethereum, BNB and Solana reflected weaker bid depth during the pullback
The Union Budget 2026-27 proposes a penalty framework for crypto-asset reporting, including daily fines for non-filing and a flat ₹50,000 penalty for inaccurate disclosures, effective April 1, 2026
Until macro stability returns and ETF inflows resume, crypto markets, analysts believe, are likely to remain defensive
Bitcoin slipped below the $80,000 mark after failing to hold above $89,000, with the decline exacerbated by thin weekend liquidity
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
The downturn followed broader weakness in global equities after renewed trade tensions between the US and Europe, triggered by President Donald Trump's latest tariff threats