Bitcoin Slips Below ₹75 Lakh as Weak Rupee and $100 Oil Shape India’s Crypto Market

The Bitcoin price has fallen below ₹75 lakh in India amid increasing selling pressure in the global markets. As rising oil prices, higher US yields, and growing inflation concerns are weighing on risk assets, Bitcoin and other cryptocurrencies are facing renewed pressure. At the same time, the weakening rupee is helping cushion this drop in India.

Bitcoin Price in India Falls Below ₹75 Lakh

As per current reports, the Bitcoin price has fallen below ₹75 lakh in India. This is mainly because of the rising selling pressure across the global crypto market. Amid rising oil prices, higher US yields, and inflation risks, investors are showing a risk-off sentiment, turning away from assets like Bitcoin. This has significantly impacted the $BTC price, with the coin declining below key levels.

Weak Rupee Cushions $BTC’s Decline for Indian Investors

It is worth noting that the Bitcoin price’s decline in terms of USD is not fully reflected in India. Indian investors usually track the value of $BTC in INR. As the rupee has also weakened against the dollar, it is now trading at around ₹95.10 per dollar. Thus, the value of $BTC in rupees is comparatively higher than the Bitcoin price in dollars. This means that the weaker rupee is cushioning some of the crypto’s decline for Indian investors.