Indian cryptocurrency investors are demonstrating a significant shift in market behavior, moving away from speculative frenzy towards a more mature, fundamentals-driven approach, according to Mumbai-based exchange CoinDCX. The exchange reports that its users are actively buying the dip in Bitcoin's price, which has corrected to around $75,000 after reaching highs above $126,000 in October 2025.
CoinDCX CEO Sumit Gupta highlighted this evolution, stating, "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." He pointed to concrete behavioral changes, including the adoption of systematic investment plans (SIPs) for Bitcoin, deliberate market orders, and thoughtfully placed limit orders.
This disciplined strategy extends beyond Bitcoin. Gupta named Ether (ETH), Solana (SOL), and XRP as other favorites among investors who are now concentrating on assets with established networks and clearer use cases. This trend marks a stark contrast to the 2021 bull market, where new investors chased high-risk, low-cap tokens and meme coin clones.
Despite the price correction across the broader market—with altcoins registering larger losses—trading activity on CoinDCX has increased. Monthly volumes rose from approximately $269 million in December 2025 to roughly $309 million in January 2026. Gupta attributed this to a balanced mix of profit-taking from short-term traders and "steady accumulation from long-term investors who view these levels as an opportunity."
Macroeconomic factors are also at play. The Indian rupee has depreciated against the U.S. dollar, recently hitting a record low of 92 INR per USD. This currency weakness is leading some savers to view digital assets like Bitcoin as a practical alternative store of value and a tool for portfolio diversification.
This maturation occurs within a strict regulatory framework. India classifies cryptocurrencies as taxable Virtual Digital Assets (VDAs), not legal tender. The recent Union Budget for 2026 maintained a 30% tax on crypto gains (with no loss set-offs) and a 1% Tax Deducted at Source (TDS) on transactions. The Financial Intelligence Unit also enforces stringent KYC and transaction reporting requirements on exchanges to bolster compliance and counter financial crimes.
CoinDCX expressed commitment to this evolving landscape, stating, "We remain fully committed to working with policymakers to support the development of a safe, innovative, and globally competitive VDA ecosystem." The company believes that clear, transparent regulations provide investor confidence and can help attract global capital to Indian platforms.
