Bitcoin is going through a highly volatile phase in the early months of 2026. As of February 10, the cryptocurrency is trading at approximately ₹62,52,874 in India. This price reflects a significant drop from its previous highs, with data showing a decline of over 20% since the beginning of the year. The market remains unstable as investors watch closely for any signs of recovery.
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Why is Bitcoin Falling?
The cryptocurrency market has faced a major downturn recently. Market analysis shows that Bitcoin is down by 11.9% compared to just seven days ago. Globally, investors have lost billions as major coins like Ethereum have also crashed. Reports indicate that Bitcoin has lost over 42% of its value since its peak in October last year.
Several factors are contributing to this price crash:
- Precious Metals Slide: A drop in gold and silver prices has pushed investors to sell off risky assets like crypto.
- Tech Stock Correlation: Concerns over an artificial intelligence bubble have impacted tech stocks, which often move in sync with crypto.
- Forced Selling: Investors who borrowed money to invest are being forced to sell their holdings as prices fall, increasing the pressure.
Crypto Tax Rules in India Remain Same
Indian investors hoping for tax relief have faced disappointment. Finance Minister Nirmala Sitharaman announced in the Budget 2026-2027 presentation that the current tax structure for virtual digital assets will continue. The government has maintained a firm stance on regulating this sector.
According to the rules, a flat 30% tax applies to any income from cryptocurrency transactions. Furthermore, the 1% Tax Deducted at Source (TDS) will also remain applicable. This ensures that the government can track all crypto trades within the country, despite requests from exchanges to lower these rates.
