Crypto
Bitcoin Slumps Below ₹75 Lakh in India Amid Global Market Pressures
The Bitcoin price has taken a hit in India, falling below ₹75 lakh as global market pressures mount.
Rising oil prices, higher US yields, and growing inflation concerns are contributing to a risk-off sentiment among investors, leading them to sell off assets like Bitcoin.
However, the weakening rupee is cushioning some of this decline for Indian investors, with the value of $BTC in INR relatively stable at around ₹7,461,692.
The rupee's weakness against the dollar means that Bitcoin's price drop in USD terms doesn't fully reflect its value in Indian rupees.