FxWirePro- Major Crypto levels and bias summary 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Bank of America Posts Strong Q4 2024 Results, Shares Rise 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Stellar Integrates Chainlink to Unlock $3.54 Billion in Tokenized Assets 
Polygon Labs Completes Coinme Acquisition, Expands U.S. Payments 
XRP Price Drops 3% Despite Ripple-Backed Evernorth Nasdaq Debut 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
Cardano Price Drops 15% as Whales Sell 110 Million ADA 
Ethereum Whale Moves $15.95M ETH to Kraken After Nine Years 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Bank of America Fined $1.21B as CZ Questions AML Double Standard 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Dogecoin Price Rebounds as DOGE Defends $0.08 Support 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Add as a preferred source on Google
Indian currency (INR) crypto exchange that operates using a unique voucher based withdrawal model, the BTCINR markets are currently trading with a significant premium (USD equivalent price $11,642) vs the rest of the market.
Of late, the Indian rupee has dropped considerably against the US dollar, while the country's current account deficit is 2.5% (India is importing more than it is exporting) and government debt is quickly growing.
India's current account deficit widened to USD 16.9 billion, or 2.5 percent of the GDP in the last three months of 2018 from USD 13.7 billion or 2.1 percent of the GDP a year earlier. The goods deficit increased to USD 49.5 billion from USD 44 billion a year ago as imports rose 9 percent while exports went up at a softer 7.2 percent. On the other hand, the services surplus increased to USD 21.3 billion from USD 20.7 billion, boosted by a rise in net earnings from telecommunications, computer and information services, and financial services. The primary income gap decreased to USD 6 billion from USD 6.5 billion and the secondary income surplus rose to USD 17.3 billion from USD 16.1 billion.
BTC’s programmable and deflationary monetary policy and its rapidly rising USD value may be making it an appealing proposition for some Indian rupee holders.
Bitcoin has had a difficult relationship with India’s government and financial regulators in recent years. On April 6, 2018, the RBI released an extremely unfavorable ruling for the crypto asset sector in India. The RBI issued regulatory guidance to all financial institutions under its jurisdiction in the recent past, barring them from providing their services to any entities associated with crypto assets.
RBI noted downside risks to growth and with inflation still below the 4% mid-point target, we could yet see a further 75bp cut in the remaining three meetings this year.
The RBI issued regulatory guidance to all financial institutions under its jurisdiction in the recent past, barring them from providing their services to any entities associated with crypto assets. Courtesy: BNC
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -48 levels (which is bearish), while articulating (at 12:44 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
