Bitcoin Surges Past Rs 1-Crore Mark Amid Continuing Crypto Market Rally and Tariff Concerns
July 11, 2025 – Bitcoin has once again captured headlines, crossing the Rs 1-crore threshold as the ongoing cryptocurrency rally shows no signs of slowing down. This milestone comes amid continued global market uncertainty fueled by concerns related to US tariff policies under President Donald Trump’s administration.
Bitcoin Hits New Highs
As of 5:13 p.m. IST on July 11, Bitcoin was trading at Rs 1,01,00,195.97, marking a 1.65% increase on the day. In dollar terms, Bitcoin surpassed the $118,000 mark after earlier breaching $116,000, reflecting a robust momentum that has pushed the cryptocurrency to record levels worldwide.
According to Edul Patel, CEO of Mudrex, "The Fear & Greed Index now signals ‘greed’, reflecting strong investor sentiment and sustained buying interest." He further noted that institutional investors have been a critical factor in driving this surge, with $1.52 billion having flowed into cryptocurrency funds over the last five trading days.
Altcoins Also Rally Strongly
Support for the broader crypto market uptrend was evident as major alternative coins such as Ethereum and Solana posted gains of up to 10%. Patel highlighted the possibility of Bitcoin reaching the $120,000 mark if the current positive trend persists, with immediate support identified at $111,500. Market Dynamics and Investor Behavior
This bullish phase has triggered significant unwinding of short positions, with over $1 billion in bets against Bitcoin liquidated in the last 24 hours, according to data from Coinglass accessed by Bloomberg. Additionally, Bitcoin Exchange-Traded Funds (ETFs) saw an influx of approximately $1.2 billion on Thursday alone, underscoring strong investor demand.
The funding rate—a key indicator of market sentiment in Bitcoin perpetual futures trading—remained positive, signaling persistent eagerness among traders to maintain bullish positions by leveraging their bets on the cryptocurrency.
Political Developments Boost Optimism
Investor optimism received a further boost following bullish remarks from President Donald Trump on his social media platform, Truth Social. In a related development, a US Congressional committee declared the week commencing July 14 as "Crypto Week," highlighting an increased institutional and governmental focus on the cryptocurrency space.
Bloomberg reported that Bitcoin’s breakout reinforced bullish sentiment among crypto traders who anticipate a regulatory environment favorable to digital assets under a potential second Trump presidency. The expectation of “permissive regulation” is fueling speculation and investment in the sector.
Conclusion
Bitcoin’s milestone crossing of the Rs 1-crore mark amid tariff jitters and political developments underscores the dynamic nature of the cryptocurrency market. With strong institutional participation, positive market indicators, and a supportive political climate, the record-breaking rally may continue, attracting further interest from investors worldwide.
— With inputs from Bloomberg and NDTV Profit Desk