Bitcoin Surges Amid Renewed Institutional Interest
On April 1, Bitcoin experienced a modest uptick in value across both national and international exchanges. The leading cryptocurrency saw a 2.03 percent increase over the past 24 hours, trading at approximately $83,133 (around Rs. 71 lakh) on global platforms. In India, Bitcoin’s price rose by 2 percent, fluctuating between $85,992 (about Rs. 73.5 lakh) and $87,912 (approximately Rs. 75 lakh). Analysts suggest that the recent volatility in the cryptocurrency market, largely influenced by international tariff disputes, may persist in the near future.
Institutional Confidence Boosts Bitcoin
Bitcoin’s recent price movement is attributed to a surge in institutional interest, as highlighted by Edul Patel, co-founder and CEO of Mudrex. He noted that Strategy’s significant purchase of $1.9 billion (around Rs. 16,239 crore) in Bitcoin marks its second-largest acquisition in 2025, signaling a renewed confidence in the cryptocurrency. Additionally, data from Santiment indicates that 30,000 BTC were withdrawn from exchanges within a week, suggesting that long-term holders are accumulating assets. This trend could potentially reduce selling pressure and support a reversal in market trends.
Ethereum and Altcoins Show Positive Trends
Ethereum also saw a positive shift, with its price climbing by 1.82 percent to reach $1,837 (approximately Rs. 1.57 lakh) on international exchanges. In India, Ethereum’s value increased slightly, trading at $1,855 (around Rs. 1.58 lakh). Riya Sehgal, a research analyst at Delta Exchange, mentioned that Ethereum is facing resistance near the $1,850 mark. A breakthrough above this level could indicate a recovery, although volatility is anticipated due to upcoming macroeconomic events, including US employment data and inflation reports.
In addition to Bitcoin and Ethereum, many altcoins, including Ripple, Binance Coin, Solana, Cardano, and Dogecoin, reported gains on Tuesday. Other cryptocurrencies like Tron, Chainlink, Avalanche, Litecoin, Polkadot, Bitcoin Cash, Monero, and Uniswap also experienced small increases, contributing to an overall market valuation rise of 1.37 percent, bringing the total crypto market cap to $2.68 trillion (approximately Rs. 2,29,11,407 crore). Bitcoin currently holds a dominant market share of 64 percent.
Market Sentiment and Future Outlook
Despite the positive trends, some altcoins faced minor losses, including Tether, Binance Coin, Stellar, and Litecoin, along with Near Protocol and Cronos. Avinash Shekhar, CEO of Pi42, commented on the prevailing market sentiment, indicating that Bitcoin is likely to maintain stability around the $82,000 (approximately Rs. 70 lakh) level. He predicted potential rises for ADA, TON, and TRX, while USDT, SOL, and USDC may encounter losses. Shekhar emphasized that altcoins are exhibiting erratic performance, struggling to find equilibrium. He cautioned that high market volatility is expected to continue, with traders reacting to macroeconomic changes and liquidity shifts.
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