Bitcoin flirts with $120k amid ETF buzz! India's crypto scene heats up with regulatory whispers & altcoin surges. Is this the start of a major bull run?
Bitcoin Price Jumps! What's Happening with Crypto in India?
Bitcoin is making headlines, and India's crypto market is buzzing! With potential regulatory shifts and altcoins on the rise, here's what you need to know.
Bitcoin Briefly Touches $120K Amid ETF Optimism
Bitcoin (BTC) briefly hit the $120,000 mark before settling around $118,000. Strong ETF inflows are believed to be fueling this rally. According to Indian exchanges, BTC price stood at Rs 1.04 crore on July 17.
Altcoins Surge: Ethereum Leads the Charge
Ethereum (ETH) is outperforming Bitcoin, marking a 24-hour gain of over 7%. Other altcoins like Solana (SOL) and Ripple (XRP) are also seeing gains. This 'altseason' hints at a shift in momentum within the broader crypto market, as noted by CoinSwitch Markets Desk.
Key Altcoin Prices in India (July 17)
- Ethereum (ETH): Rs 2.61 lakh
- Dogecoin (DOGE): Rs 17.56
- Litecoin (LTC): Rs 8,347.30
- Ripple (XRP): Rs 252.45
- Solana (SOL): Rs 14,416.72
India's Crypto Regulatory Landscape: The GENIUS Act
Shivam Thakral, CEO of BuyUcoin, highlighted the regulatory push in the US, specifically mentioning Trump's support for the GENIUS Act, which could pave the way for stablecoin regulation. This potential regulatory clarity is injecting optimism into the market.
Expert Opinions: What's Next for Bitcoin and Crypto?
Experts have varying opinions, but a common theme emerges: volatility with potential upside. Edul Patel, CEO of Mudrex, points to $124K-$126K as the next resistance for Bitcoin, with $113K as a key support level. Avinash Shekhar, Co-founder & CEO of Pi42, notes that altcoins are gaining traction as Bitcoin dominance faces rejection, suggesting capital rotation.
The Rise of Memecoins
Interestingly, the top 24-hour gainers include memecoins, signaling renewed risk appetite in the crypto space. FLOKI, BONK and Fartcoin were among the top gainers on July 17.
Final Thoughts: Buckle Up!
The crypto market is always full of surprises. Whether you're a seasoned trader or just getting started, stay informed, do your research, and remember that volatility is part of the game. Who knows, maybe you'll be the next crypto millionaire...or at least have a good story to tell!
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