Bitcoin hovered in a narrow USD 66,000-USD 67,000 range with declining volumes, signalling investor hesitation, while altcoins underperformed amid the leading cryptocurrency’s continued dominance, according to WazirX – India’s largest and most trusted cryptocurrency exchange.
New Delhi:Bitcoin and Ether trimmed recent losses and stabilised this week as improving sentiment around a potential de-escalation in the Iran conflict boosted risk appetite, though trading remained subdued.
Bitcoin hovered in a narrow USD 66,000-USD 67,000 range with declining volumes, signalling investor hesitation, while altcoins underperformed amid the leading cryptocurrency’s continued dominance, according to WazirX – India’s largest and most trusted cryptocurrency exchange.
Precious metals saw sharp corrections after earlier gains, indicating profit-booking despite lingering geopolitical uncertainty, as broader markets showed signs of cautious recalibration.
In the United States, the proposed crypto regulatory framework, known as the Clarity Act, is being seen as a step toward reducing uncertainty and supporting innovation in the sector.
Macro signals remained mixed, with India’s strong GDP outlook contrasting with deflationary wholesale prices, while global investors awaited key inflation data. Sentiment was further supported by expectations of foreign inflows and progress on US-India trade ties, though volatility continued to be driven more by uncertainty than clear directional trends.
Market participants are advised to remain cautious, as stabilisation in crypto prices has yet to translate into strong conviction, with macroeconomic and regulatory triggers likely to guide near-term direction.