Riya Sehgal, Research Analyst, Delta Exchange

Bitcoin's rebound is testing the $65,000 area. The move from $62,700 has pushed BTC higher, but sellers remain active around $64,800-$65,200.

Short covering supported the rebound, while improving spot ETF flows added institutional demand. However, the broader market has not shown enough strength for a clear risk-on breakout.
Bitcoin has reclaimed its major 4-hour moving averages, keeping the short-term structure positive while $63,800-$64,000 holds. Ether is also testing resistance around $1,920-$1,925 after recovering from $1,870.

The next trigger could come from the FOMC minutes. Changes in rate expectations, Treasury yields or the dollar could determine the next move. For now, buyers have regained ground, but BTC still needs to hold above resistance to confirm further upside.

Gaurav, Udani - Founder, ThinCredBlu Securities

"Nifty is expected to open slightly lower around 24,135, down nearly 20 points, indicating a muted start.

The index continues to trade near an important support zone. 24,000-24,100 remains the key support range, while 24,300-24,400 will act as the immediate resistance zone.

After the recent weakness, traders should remain cautious. A sustained break below 24,000 could increase selling pressure, while a move above 24,400 would improve the short-term outlook.

With the market still sensitive to global cues, a level-based approach with strict risk management is advisable rather than chasing moves at the open."

Akshat Siddhant, Lead quant analyst, Mudrex

Oil has extended its rally for a fourth straight session, trading above $85 a barrel as US crude inventories recorded their first decline in five weeks and developments around the Strait of Hormuz kept supply concerns elevated. Precious metals have moved in the opposite direction, with gold falling below $4,350 an ounce and silver below $63 after recently trading near $66, as profit-taking weighs on prices. The pressure is also coming from a sharp move in global bond markets, with the 30-year US Treasury yield reaching a 19-year high this week. For gold, $4400 becomes the new resistance while support stands at $4300. 

BTC briefly touched $65K for the first time since Aug. 10, helped by a rebound in U.S. equities despite continued U.S.-Iran tensions around the Strait of Hormuz. Oil prices remained relatively stable, but rising bond yields remain a key macro risk, with the U.S. 30-year Treasury yield reaching 5.34%, its highest since 2007. At the same time, whales have accumulated around $2.64 billion worth of BTC over the past two months, indicating continued dip-buying. For momentum to strengthen further, BTC needs to hold above $65K; otherwise, it may continue trading within the $64K-$65K range. 

Prateek Gupta, Head of Business, Mudrex

Bitcoin briefly reclaimed $65,000 as broader risk sentiment improved after President Trump's comments about the Strait of Hormuz's operation. However, the macro backdrop remains challenging, with the 30-year US Treasury yield rising to 5.34%, its highest level since January 2007. CryptoQuant's data suggests the move could be a "low-volume liquidity trap," driven mainly by short covering rather than strong spot demand, with 637 BTC in short liquidations. On the positive side, US spot Bitcoin ETFs recorded $297.6 million in net inflows on Monday, their strongest since May 5. Bitcoin's immediate resistance stands at $65,000, while support has moved up to $64,000.

Vikram Subburaj, CEO, Giottus.com

Bitcoin traded near $64,350 on Wednesday morning, up roughly 0.3% over 24 hours, after moving between approximately $64,005 and $64,926. Immediate support is around $64,000, followed by the more important $63,000 zone. Resistance lies at $64,900-$65,000, followed by $66,000. The short-term holder cost basis near $68,700 remains the larger recovery hurdle.

On-chain indicators continue to suggest caution. Bitcoin's spot liquidity remains weak and on-chain activity subdued, even as capital flows show signs of stabilising. Spot volume has recently fallen to its lowest level since 2019, while $63,000 represents the Median Realised Price. This suggests selling pressure may be easing, but stronger demand is still required for a sustained breakout.

Institutional flows have improved. US spot Bitcoin ETFs attracted $865.3 million between August 3 and 7, before recording approximately $385.2 million in net outflows from August 10-14. Flows reversed sharply with $297.5 million of inflows on August 17 and another $45.7 million on August 18.

Large-cap altcoins were modestly positive. Ethereum traded near $1,911 ( 0.5%), BNB around $603 (-0.1%), XRP near $0.998 ( 0.2%), Solana at $76.70 ( 1.3%), and TRON around $0.3325 ( 0.5%).

Macro conditions remain decisive. A Reuters survey found that 94 of 104 economists expect the Fed to keep rates unchanged at 3.50%-3.75% in September. Markets are also pricing in close to a 70% probability of a hold. Fed minutes due today will be closely watched, followed by July PCE inflation ahead of the September 15-16 meeting. Elevated oil prices and Middle East tensions remain an inflation risk.

Our advice: Bitcoin remains range-bound. A sustained move above $65,000-$66,000, accompanied by stronger spot activity and continued ETF inflows, would provide a more convincing signal that the recovery is broadening.

The Thesis
Indian markets fell for a third straight session Tuesday as Brent near $91 and near-record US 30-year bond yields eroded global risk appetite. Yet domestic capex - grid T&D, infrastructure, and base metals - converges with high conviction, insulated from crude import pressure by government order books. With DII flows absorbing FII selling and the RBI defending the rupee near 95.4, this is a domestic rotation play, not a broad risk-off.

Where We're Concentrated
Concentration is heaviest in power infrastructure and T&D equipment - cables, grid transformers, project execution - with base metals alongside on India's EV and packaging demand. A defence and explosives angle extends the thesis into sovereign-spend territory. The thesis breaks if Brent holds above $95 and compresses government capex, or if a US-Iran deal collapse reverses DII buying.

Conviction Picks
Highest Conviction
Larsen & Toubro
Beneficiary of rising order books as India's infrastructure and power grid spending accelerates through FY27.
Polycab India
India's largest wire-and-cable maker rides grid expansion and housing electrification as power capex sustains into FY27.
Hindalco Industries
Aluminium demand from India's EV and infrastructure sectors is rising; Hindalco's scale locks in margin as volumes accelerate.
Hitachi Energy India
T&D equipment at India's grid buildout; utility capex accelerates as power demand hits seasonal highs.
Solar Industries
India's dominant explosives maker; rising mining and export defence orders are diversifying revenue beyond domestic demand.
One Thing to Watch
Brent above $95. Trump signalling no extension to the US-Iran interim deal could spike crude above $95, widening India's import bill and squeezing the government capex headroom anchoring these picks.

Harish Vatnani, Head of Trade, ZebPay

"In the crypto market, Bitcoin climbed above $64,000, gaining more than 1% on the day and edging higher over the week, making it the only major asset to post a meaningful gain. Ether slipped around 0.5% to just below $1,900 but remains nearly 1% higher on the week. XRP fell more than 1% to below $1 and is down over 2% for the week, while Dogecoin declined nearly 0.5% to around $0.07. BNB and TRON also edged lower, while Solana remained broadly flat near $76. 

Among smaller-cap majors, Hyperliquid's HYPE stood out, rising nearly 1% to above $59 and gaining around 7.5% over the past week, making it the strongest weekly performer among the group. 

Meanwhile, Bitcoin's mining ecosystem continues to undergo a structural shift. Publicly listed Bitcoin miners have reduced their combined computing power by around 21% over the past three quarters as companies increasingly redirect capacity toward AI and high-performance computing infrastructure. 

The US Securities and Exchange Commission (SEC) has proposed "Regulation Crypto Assets," a tailored framework that would provide a pathway for certain digital-asset offerings to receive exemptions from specific securities-law requirements while maintaining investor protections. The proposal comes as broader crypto legislation remains stalled in Washington and is separate from the SEC's innovation exemption. 

Beyond crypto, broader markets faced renewed pressure. Brent crude rose above $91 a barrel, driven by geopolitical tensions and concerns around the future of the U.S.-Iran agreement. Asian bonds also followed US Treasuries lower amid growing concerns over government finances, while higher energy prices added to fears of renewed inflationary pressure. Asian stocks and U.S. futures both moved lower, highlighting a more cautious risk environment across global markets."

Rajesh Palviya, Head of Research at Axis Direct

The Nifty 50 ended Tuesday at 24,154.90, down 132.75 points or 0.55%, marking its sixth consecutive decline and closing at the day's low. Persistent weakness in global markets, coupled with Brent crude rising above $91 a barrel after Washington ruled out an extension of the interim understanding with Tehran, kept inflation and import-cost concerns elevated. Selling was broad-based, led by IT and realty, while gains in healthcare and auto provided limited support.
Global cues remained weak, with the Nasdaq Composite falling 1.33% and the S&P 500 declining 0.69% for their third consecutive losing sessions, while the Dow slipped around 0.2%. Asian markets have extended the selloff, with South Korea's Kospi falling as much as 4.2% and triggering a sidecar, while Japan's Nikkei 225 declined around 2%. Semiconductor and technology stocks, including SK Hynix, Samsung Electronics, Kioxia and SoftBank, have borne the brunt of the selling.

With crude remaining above $91, domestic markets have limited positive triggers to counter the global pressure. GIFT Nifty at 24,197 suggests a largely flat opening. The near-term undertone remains cautious as the Nifty trades below 24,350. Immediate support is placed at 24,000, and a decisive break below this level could drag the index towards 23,900. On the upside, any moderation in crude prices could trigger a recovery towards 24,300-24,400.

Thriwe, a leading technology-enabled loyalty and benefits platform, today announced its entry into Australia, marking a significant milestone in its international growth strategy. The expansion reinforces Thriwe's vision of building a truly borderless loyalty ecosystem while positioning the company to serve banks, financial institutions and enterprises in Australia with its technology-enabled loyalty and engagement platform. It also enables Thriwe's existing banking and lifestyle partners in India to extend premium travel, lifestyle and concierge benefits to customers travelling to Australia.
 
The move comes at a time when Australia has emerged as one of the most important destinations for Indian travellers and students. According to Tourism Australia, Indian visitor arrivals reached a record 451,524 in 2025, while visitor expenditure touched A$2.7 billion, underscoring the country's growing significance for Indian outbound travel. India is also Australia's second-largest international student cohort, accounting for 16% of all international students, according to the Australian Government's Department of Education.

Home-loan rates currently start at around 7.1-7.25% for strongest borrowers. Most salaried borrowers are broadly seeing rates in the 7.5-8.5% range. Read full report here

At the close on Tuesday, the total market cap of all BSE Sensex companies stood at Rs 4,90,79,215.