Bitcoin Price Surges Past $90,000 as Crypto Market Struggles to Hold Crucial Support Levels

Bitcoin hovered around $90,786 (approximately Rs. 80.28 lakh) on Wednesday, just a day after briefly dipping below the $90,000 (roughly Rs. 79.5 lakh) mark. The leading digital asset has already witnessed a sharp correction of over 30 percent from its October peak, a decline triggered by weakening liquidity conditions and reduced institutional inflows. This shift has recalibrated market expectations and pushed traders into a cautious stance. Whether this zone becomes a foundation for an early recovery or sets the stage for a deeper slide toward another Crypto winter will largely depend on how liquidity trends evolve and whether buying pressure returns. Ethereum (ETH) traded near $3,025 (roughly Rs. 2.68 lakh). According to the Gadgets 360 price tracker, Bitcoin currently stands around Rs. 80.2 lakh in India, with Ethereum valued at approximately Rs. 2.68 lakh.

Altcoin Market Sees Uneven Price Movements as Investors Search for Stability

Altcoins continued to show mixed price action on Wednesday, reflecting the uncertainty dominating global crypto sentiment. XRP traded around $2.15 (about Rs. 190), while Binance Coin (BNB) slipped to $920.41 (roughly Rs. 81,382). Solana (SOL) was seen around $138.02 (about Rs. 12,204), and Dogecoin (DOGE) dropped to $0.1577 (nearly Rs. 13.94), signalling a broader defensive outlook.

Avinash Shekhar, Co-Founder and CEO of Pi42, noted that the market has now entered a decisive phase. He explained that while conditions are not entirely skewed in one direction, fear remains dominant, particularly for assets with weak fundamentals. “If liquidity stabilises and buyers return, this zone can act as an early base for recovery […] The next stretch will reveal whether bears maintain their grip or whether the first hints of a rebound begin to emerge.”

Edul Patel, CEO of Mudrex, highlighted early signs of recovery supported by increased whale activity. He added that traders are awaiting the release of the U.S. FOMC meeting minutes, which could influence December policy expectations. “Any indication of easing could support a broader bullish shift. At present, BTC trades around $92,600 (roughly Rs. 81.9 lakh) and faces immediate resistance above $94,300 (about Rs. 83.4 lakh), while $90,000 (roughly Rs. 79.5 lakh) serves as strong support.”

Analysts at the CoinSwitch Markets Desk also reported improved short-term momentum. For the first time in several weeks, buyers stepped in aggressively during the dip, boosting the overall crypto market by 2.3 percent—a rise that outperformed traditional financial assets. Bitcoin is currently consolidating between $92,000–$93,000 (roughly Rs. 81.1 lakh–Rs. 82 lakh) following the rebound, with bulls targeting a breakout above the $94,000 (around Rs. 83.03 lakh) resistance zone.

Despite these pockets of resilience, overall market sentiment remains subdued. Analysts emphasize that Bitcoin’s capacity to defend the $90,000–$94,000 (roughly Rs. 79.5 lakh–Rs. 83 lakh) range will be crucial in determining whether a meaningful recovery base forms or whether the market leans further into extended weakness.