Sensex falls by 247 points today, closing at 82,253, as funds continue selling off IT stocks. However, healthcare stocks showed strength and pushed back some market losses. Meanwhile, Bitcoin surged to a new high, nearing $123,000.
Bitcoin Shows Strong Rally
Bitcoin has delivered a 30% return so far in 2025, making it the highest-performing asset. Gold is close behind with a 27% return. Investors are shifting toward safe-haven assets like gold and Bitcoin. The reasons include the growing US deficit, uncertainty over tariffs, rising geopolitical tensions, and a weakening dollar.
Bitcoin rallied after hitting a high of $119,500 last week. Analysts believe this surge signals a lack of confidence in traditional financial systems. Generally, assets like stocks and bonds are considered productive. In contrast, assets such as gold, silver, and Bitcoin are viewed as high-risk and unproductive.
Crypto Rally After US Policy Shift
Bitcoin’s rise gained pace after the US passed the “Big Beautiful Bill” on July 3. Since then, it has climbed nearly $15,000. The US dollar index has dropped 11% over the last month. During this time, the US budget deficit touched a record $316 billion in May. Global uncertainty and tensions in the Middle East also contributed to the shift toward crypto.
In the last 24 hours, Bitcoin traded between $117,717 and $122,873. It stood at $122,070 late in the evening. Other cryptocurrencies like Ethereum, Solana, and XRP followed Bitcoin’s rally.
Ethereum Crosses $3,000
Ethereum breached the $3,000 mark, boosted by strong inflows into crypto ETFs. Investors also responded positively to reports that the Trump administration might introduce crypto-friendly policies. According to Himanshu Maredia, Chairman of Cifdac, expectations from Trump’s pro-crypto stance have fueled this week’s strong start in US crypto markets.
