Latest Updates In Ethereum And Bitcoin –Bitcoin soared to a new all-time high of $112,288 on July 10, 2025, sparking enthusiasm among India’s 19 million crypto traders.
The 2.85% daily increase, following a $111,999 peak the previous night, was driven by global risk appetite and U.S. Federal Reserve rate cut signals.
In India, where crypto adoption ranks first globally, the surge has fueled optimism despite regulatory uncertainties and high taxation.
Indian exchanges like WazirX and ZebPay reported a 15% spike in Bitcoin trading volume, with traders leveraging the rally to offset the 30% crypto tax and 1% TDS imposed in 2022.
Bitcoin’s breakout above $112,000, driven by $200 million in short position liquidations, boosting market sentiment.
However, the RBI’s concerns about Bitcoin’s impact on monetary policy and potential for illicit use temper the optimism, with calls for stricter regulations.
The surge aligns with global trends, including BlackRock’s $14.4 billion in Bitcoin ETF inflows, which have inspired Indian institutions to explore crypto investments.
Yet, the upcoming Finance Ministry discussion paper, due by late July, creates uncertainty, as traders await clarity on Bitcoin’s legal status. The rally could push India to adopt a Bitcoin-friendly policy to retain capital.
Despite the bullish market, high taxes and regulatory delays risk pushing traders to unregistered platforms, highlighting the need for a balanced framework to sustain India’s crypto leadership.
