Bitcoin Price in India Tumbles Below ₹75 Lakh Amid Global Selling Pressure
Bitcoin's price in India has fallen below ₹75 lakh amid increasing selling pressure globally. Rising oil prices, higher US yields, and growing inflation concerns have investors showing a risk-off sentiment, causing the coin to decline below key levels.
The weakening rupee is helping cushion this drop for Indian investors, as the value of BTC in INR remains higher than its dollar equivalent. This can be seen in the example of USDT, a stablecoin that tracks the value of the US dollar, currently trading above ₹95 in India.
However, other cryptocurrencies are not faring so well, with XRP, Solana, and Dogecoin recording steeper losses due to their sensitivity to global factors. NEAR and Zcash, on the other hand, are outperforming despite the overall market decline.