Bitcoin prices have risen above $75,000 as Donald Trump gets closer to winning the US presidency, indicating a “risk-on” mentality in the market and heightened investor confidence. The increase in Bitcoin has coincided with developments in equities markets, especially in developing nations like India that are thought to be stand-ins for global risk.
Bitcoin’s increase is encouraging, but it also reflects a wider sense of unpredictability due to worries about trade conflicts under a Trump administration. Increased tariffs on China and even India might help some Indian industries, including manufacturing, while hurting others.
India’s economic foundations are still sound in spite of these threats.
Analysts think that the recent withdrawals from Indian markets are only temporary and that India’s good connections with the United States may have long-term advantages.
While a slower U.S. rate-cut cycle could affect global interest rates, India’s foreign exchange reserves are anticipated to aid in managing currency concerns.
Overall, despite the changing global environment, India’s view is still cautiously hopeful.