Bitcoin price has outperformed last week with more than 23% gain. Amid this bullish rally, the price has exceeded key moving averages which showcases the bulls’ grip. Buyers seem to be in control after a strong bullish rally and holding the ₹74 Lakh territory.
Bitcoin price today in India
At press time, Bitcoin was trading at ₹74,00,138.45 with an intraday loss of 2.6%. The market capitalization was ₹148.743T and the 24-hour trading volume was ₹2.882T. Bitcoin is a leading coin and the current BTC dominance is 60.03%. It has a circulating supply of 20.077M with a total supply of 21M.
BTC price holding ₹74 Lakh territory: Can it extend to ₹95 Lakh?
Bitcoin price has experienced strong buying pressure and has surged by more than 23% in a week. The price has surpassed the 100-days and 200-days EMA on a weekly timeframe. After this strong move, the price is still yet to reach the previous swing high on a weekly timeframe.
Looking closely at the weekly chart, buyers are still holding the $74 Lakh level after strong buying pressure. The current price is hovering near the previous week closing zone and its 6th day of the week. This data indicates that traders and indicators are not booking profit. If buyers remain strong like this, the trend may continue to the ₹95 Lakh.
On the other hand, if traders and investors prefer to book profit and the price slips below the ₹70 Lakh then buyers may lose the momentum. Once the BTC price sustains below the psychological level of ₹70 Lakh, profit booking in bulk can be observed.
Bitcoin Open Interest (OI) analysis
Bitcoin’s price and open interest show a clear divergence-then-convergence pattern from early July to late August. Through most of July and early-to-mid August, BTC traded in a tight range of roughly $60K–$65K while open interest stayed elevated and stable around $46B–$50B, signalling that leveraged positioning remained heavy even as spot price consolidated sideways.
The real shift begins around 18-20 August, when BTC breaks sharply out of its range, rallying from $65K to a peak near $80K by 22 August. Open interest surges in lockstep, jumping from $48B to a high of nearly $58B, confirming the move was driven by fresh leveraged inflows rather than just spot buying.
After peaking, both price and OI plateau near $77K–$80K and $54B–$57B respectively, with price dipping toward the end of August while OI stays elevated, suggesting positions are still open and volatility risk remains.
Bitcoin price and volume analysis
Looking at this BTC price vs volume chart spanning 9 July to 28 August, the data tells a clear story of a market moving from quiet consolidation into a decisive breakout. Through most of July and the first half of August, Bitcoin’s price stayed locked in a narrow $60K–$65K band, and trading volume mirrored that calm, oscillating between roughly $20B and $65B with no strong directional bias. Dips to the $18B–$25B range around mid-July and late July suggest brief lulls in trader interest, but nothing dramatic, this was essentially a sideways, low-conviction phase where neither buyers nor sellers were pushing hard.
That changed abruptly around 18–20 August. Price began climbing sharply from the $62K zone toward nearly $80K within just a few days, and volume didn’t just rise, it exploded. Daily volume jumped to $105B–$110B and then spiked to an extraordinary $158B on 22 August, by far the largest bar on the entire chart, coinciding almost exactly with the steepest part of the price rally. This tight correlation between the volume spike and the price surge is significant: it indicates the breakout was driven by genuine, high-conviction buying rather than thin, easily-reversed trading.
In the days following the peak (24–28 August), volume cooled from its extreme high but still held in the $65B–$97B range, noticeably above the July baseline, while price consolidated in the high ₹74L–₹76.5L zone. This pattern of elevated-but-declining volume alongside price stability is generally read as healthy consolidation after a strong move, suggesting the new higher price level is being actively accepted by the market rather than immediately rejected, though a further volume fade without fresh highs would be worth watching as a possible sign of weakening momentum.
Final Thoughts
Bitcoin’s recent surge has all the markings of a genuine, conviction-backed breakout rather than a thin, easily-reversed move. The rally from the ₹56L–₹62L consolidation range to a peak near $80K was accompanied by open interest jumping to nearly $58B and a record volume spike of roughly $158B on August 22, both signalling that fresh leveraged money and real buying interest were driving the price rather than low-liquidity noise. In rupee terms, Bitcoin is holding the ₹74 lakh zone after gaining more than 23% in a week, and it remains above its 100-day and 200-day EMAs on the weekly chart, which keeps the broader technical picture bullish. From here, the key levels worth watching are fairly clear: sustained strength could open the door to ₹95 lakh, particularly since the price hasn’t yet reclaimed its previous weekly swing high, while a slip below the psychologically important ₹70 lakh mark would likely trigger broader profit-booking and stall the current momentum.
The price action since the peak, cooling but still elevated volume alongside a stable-to-slightly-lower price, looks more like healthy consolidation than outright rejection, though the fact that open interest remains high even as price dips a little suggests there’s still plenty of leveraged exposure in the system that could amplify the next move in either direction. On balance, the structure continues to favor buyers for now, but ₹70 lakh remains the line in the sand, and a decisive close below it would change the narrative quickly.
What is the price of Bitcoin in India today?
Bitcoin is trading around ₹74,00,138.45, having gained more than 23% over the past week, marking its most bullish week since 2022.
Can Bitcoin price reach ₹95L?
If buyers continue to hold the ₹74 lakh zone and the price surpasses its previous weekly swing high, the trend could extend toward ₹95L. However, this depends on sustained buying pressure and no major profit-booking.
What happens if Bitcoin falls below ₹70 lakh?
A sustained drop below the psychological ₹70 lakh level could trigger bulk profit-booking, causing buyers to lose momentum and potentially reversing the current bullish trend.