What to know : Indian crypto investors are buying the dip in bitcoin and other layer 1 tokens, maintaining a well-diversified portfolio, CoinDCX told CoinDesk. Traders have matured, shifting away from the speculative memecoins that dominated in 2021. CoinDCX has seen a growth in volumes despite the bitcoin price drop as the exchange remains committed to complying with regulatory policies.
Indian crypto investors have shed the speculative itch and are buying the dip in bitcoin price like seasoned pros, Mumbai-based CoinDCX exchange told CoinDesk.
"Indian investors are maturing. They're no longer driven purely by sentiment or headlines; instead, they’re focused on fundamentals and the long-term potential of the asset class," CoinDCX's CEO Sumit Gupta said in an email.
"We’re seeing it in their behavior: regular bitcoin systematic investment plans (SIPs), deliberate market orders, and thoughtfully placed limit orders," he added, naming ether , solana and XRP as other favorites.
The latest trend contrasts with the frenzied trading in 2021 when newbies chasing 100x pumps dabbled with clones and other smaller tokens.
"It’s clear that participation is becoming more strategic and measured, rather than reactive. Increasingly, investors are looking at Bitcoin for portfolio diversification and long-term wealth creation," Gupta said.
Bitcoin's price has dropped to $75,000 after having hit a high of over $126,000 in October. The broader market has followed suit, with altcoins registering bigger losses. Coincidentally, the Indian national rupee (INR) has depreciated against the U.S. dollar in recent weeks, hitting a record low of 92 per USD.
Yet trading volumes have picked up on the exchange, rising from about $269 million in December to roughly $309 million in January, he said, adding that the activity has been more balanced. "We see profit-taking from short-term traders who bought near recent lows, but at the same time, steady accumulation from long-term investors who view these levels as an opportunity," he noted.
India, the world's fastest-growing major economy, maintains a cautious, regulatory-focused stance on digital assets, treating them as taxable Virtual Digital Assets (VDA) rather than legal tender. The annual budget announced over the weekend maintained a 30% tax on crypto gains, with no loss set-offs, and a 1% transaction tax deducted at source.
Regulations issued by the Financial Intelligence Unit also mandate strict KYC requirements, including regular and accurate reporting of user transactions by exchanges. These measures are aimed at bolstering compliance and countering money laundering and terrorist financing.
"The Union Budget 2026 proposes strengthening compliance for crypto platforms over lapses in transaction disclosures, aiming to curb tax evasion in virtual digital assets," Gupta said.
We remain fully committed to working with policymakers to support the development of a safe, innovative, and globally competitive VDA ecosystem, as the regulatory landscape continues to evolve.
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