Daijiworld Media Network- Mumbai
Mumbai, May 21: In a bullish wave sweeping through the global crypto market, Bitcoin surged past the $107,000 (approx. ?92.1 lakh) mark for the first time since January 2025, marking a strong comeback for the world’s most valued digital asset.
According to data from CoinMarketCap, Bitcoin climbed nearly 2% in the past 24 hours, currently trading at $107,616 on international exchanges. The Indian crypto scene mirrored the momentum, with BTC retailing at $107,780 on domestic platforms like CoinDCX and CoinSwitch.
Market observers say the rise is largely attributed to fresh signals from the US Securities and Exchange Commission (SEC) indicating a shift toward friendlier crypto regulation. "The SEC has signalled a policy shift, committing to clearer, collaborative crypto regulations," said Himanshu Maradiya, Founder and Chairman of CIFDAQ exchange. “This renewed openness, alongside growing institutional interest, bodes well for long-term crypto prospects.”
Ethereum (ETH), Bitcoin’s closest rival, also reported upward movement—albeit modest. ETH is trading at $2,587 (?2.20 lakh) globally, while on Indian exchanges, it hovers around $2,593 (?2.21 lakh) after a slight dip.
Technical analysts at ZebPay say ETH is facing resistance near the $2,850 (?2.43 lakh) mark. “If Ethereum breaks past this level with strong volumes, it could rally to $3,000 (?2.56 lakh) or even touch $3,350 (?2.86 lakh),” said a report from the ZebPay Trade Desk.
Wednesday also saw a rally among several altcoins, with the majority flashing green on the Gadgets 360 crypto tracker. However, some top assets such as Ripple (XRP), Binance Coin (BNB), Cardano (ADA), Chainlink (LINK), and Litecoin (LTC) showed minor losses, adding a note of caution to the otherwise optimistic market tone.
“While structural indicators like the Golden Cross and ascending trendlines suggest a bullish setup, on-chain data hints at short-term overheating,” noted Riya Sehgal, Research Analyst at Delta Exchange. “The overall sentiment remains cautiously optimistic.”
Meanwhile, decentralised finance (DeFi) platforms are quietly making a comeback. “DeFi protocols like AAVE are regaining traction amid broader market optimism,” said Avinash Shekhar, Co-Founder and CEO of Pi42. “This offers compelling opportunities for investors looking to diversify across both legacy coins and emerging assets.”
With market sentiment gradually shifting in favour of crypto and institutional support deepening, experts believe this could be the early signs of a sustained rally heading into the second half of 2025.