Bitcoin Rally Toward $80K Boosts Indian Exchange Trading Volumes

Bitcoin's rally toward $80,000 has boosted trading volumes on major Indian crypto exchanges, with Bitcoin trading near $79,000 at publication time. CoinDCX's spot volume more than doubled between August 19 and 21, rising from roughly $5-6 million to about $13 million, while its Bitcoin trading volume jumped to $2 million on August 21. WazirX reported daily futures volumes nearly seven times higher between August 16 and 22, and Giottus saw spot and futures volumes rise 22% and 31%, respectively. The rally began after US Treasury Secretary Scott Bessent announced expanded buyback programs for long-term Treasuries, which traders interpreted as a liquidity signal. US spot Bitcoin ETFs recorded about $1.92 billion in net inflows, and over $4 billion in short positions were liquidated. Ethereum, XRP, and Solana also saw increased interest, though some executives warned the rally may not be sustainable.