Bitcoin Holds Steady at $110,000 Amid Global Economic Uncertainty

Bitcoin is clinging to stability at around $110,000 (roughly Rs. 96.7 lakh) as of Thursday, October 23, 2025, navigating a stormy sea of global uncertainties. The cryptocurrency market is subdued, with trading volumes at a whisper, as investors grapple with ongoing US-China trade tensions and a US government shutdown now dragging into its fourth week. The absence of key US economic data, delayed by the shutdown, has left traders hesitant, waiting for clearer signals. Ethereum, the market's second-in-command, mirrors this cautious stance, hovering near $3,800 (roughly Rs. 3.3 lakh). Per the Gadgets 360 price tracker, Bitcoin trades at Rs. 95.5 lakh on major Indian exchanges, with Ethereum steady at Rs. 3.3 lakh.

The broader crypto market is in a consolidation phase, with most altcoins locked in tight trading ranges. XRP lingers at $2.39 (roughly Rs. 210), while Binance Coin (BNB) sits near $1,100 (Rs. 94,200). Meme coin Dogecoin (DOGE) trades at $0.19 (Rs. 16.80), still riding faint hype from past endorsements, and Solana (SOL) holds at $184 (Rs. 16,210) amid buzz about network upgrades. This muted price action reflects a market pausing after recent volatility, with investors wary of sudden moves triggered by global headlines.

Mudrex CEO Edul Patel sees a silver lining in Bitcoin’s recent behavior. “BTC’s consolidation after touching $114,000 (Rs. 1 crore) signals cautious optimism,” he said. He points to whale accumulation—over 12,000 BTC scooped up in the past week—as a bullish undercurrent. “The global M2 money supply, now at $137 trillion (Rs. 12,00,000 crore), is a tailwind for crypto’s long-term growth,” Patel added. However, he cautioned that regulatory shifts in the US and China could derail this momentum, keeping markets on edge.

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The CoinSwitch Markets Desk highlights a market in wait-and-see mode. “Bitcoin’s holding pattern stems from uncertainty over US-China trade talks and the US shutdown, which has frozen key economic data,” their report notes. A striking trend: Bitcoin’s options open interest now outpaces futures by $40 billion (Rs. 3,50,000 crore), the widest gap on record. “This reflects heavy hedging and a maturing market structure,” the desk said, suggesting crypto is increasingly entangled with global finance’s ups and downs.

The CoinDCX Research Team reports fragile sentiment despite pockets of strength. Top performers include Hyperliquid, up over 6%, Mantle, gaining more than 3%, and Monero, rising 2.7% on privacy feature buzz. On the flip side, Zcash plummeted over 10% amid regulatory concerns, with DoubleZero and SPX6900 shedding 7.7% each. These swings underscore crypto’s volatility, where one coin’s rally can mask another’s collapse.

Analysts are eyeing critical levels for Bitcoin’s next move. A breakout above $110,000 (Rs. 96.7 lakh) could spark a rally toward $113,800 (Rs. 1 crore), reigniting market fervor. Conversely, a drop below $106,500 (Rs. 93.6 lakh) might trigger a deeper correction, testing investor resolve. With the US shutdown unresolved and trade tensions simmering, the market is a powder keg. Indian traders, juggling rupee volatility and tax complexities, face added stakes. As crypto teeters between breakout and breakdown, one thing’s certain: the next move will be seismic.

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