Remember 2021 when everyone’s uncle became a “crypto expert” overnight? Well… dust off that old WazirX login, because Bitcoin is knocking on the ₹60 lakh door again — and this time, it’s not just hype (well, not only hype 😅).
But is this the beginning of another crypto bull run, or just a high-voltage fakeout? Let’s decode what’s really going on behind the charts and cheerleading tweets. 👇
📊 So, What’s Happening?
As of this weekend, Bitcoin is trading around $70,000 globally, and due to the INR-USD exchange rate, it’s touching ₹59–60 lakh on major Indian platforms like CoinDCX, WazirX, and Binance India.
This rally didn’t just come out of nowhere. Here’s what’s fueling it:
- ✅ Bitcoin ETF approvals in the US
(Yes, even BlackRock is involved. Boomers, it’s official.)
- ✅ April 2024 Bitcoin halving
This cuts new BTC supply in half = supply squeeze = price go up? 📉⛏️➡️📈
- ✅ Weakening US dollar
Rate cut expectations from the Fed = Dollar dips = BTC gains
- ✅ Global geopolitical instability
War = uncertainty = people flee to decentralized assets like crypto.
🇮🇳 Why Is It So High in India?
Good question. Here’s why Bitcoin looks even more expensive on Indian platforms:
