Stock Market LIVE Updates, Sensex Today: Sensex Drops 300 Points Amid Hormuz Deadlock, Asian Markets Mixed

Nischal Shetty, Founder, WazirX

“24-hour liquidations in crypto fell 17.19% to $160.35 million, suggesting reduction in leveraged stress.  The markets remain cautious, with total market capitalization broadly flat at $2.19 trillion and the Fear & Greed Index stands at 37 (Fear).

Asian equities are showing a risk-off tilt, with the Hang Seng down 1.10%, Shanghai 0.82%, Sensex 0.49%, Singapore 0.26%, and Nikkei 0.11%. South Korea is the notable exception, with the KOSPI surging 2.43%, supported by semiconductor strength.

US equities ended modestly lower, with the Nasdaq falling 0.60%, while the Dow and S&P 500 declined 0.34% and 0.32%, respectively, as technology weakness and caution ahead of US inflation data weighed on risk appetite. 

For crypto, this translates to a near-term headwind, suggesting reduced appetite for risk on assets. Weak tech equities and higher oil prices could put pressure on Bitcoin and altcoins. 

The US Consumer Price Index is due to be published today. Headline CPI is expected at just 0.1%, with core inflation at 0.2%, as per industry reports. A softer inflation gives the Federal Reserve room to push the next rate decision into October. A 0.3% – 0.4% core reading raises the probability of a September hike and tightened financial conditions.

A softer CPI would also support risk assets and create a favorable setup for Bitcoin to reclaim resistance, with altcoins potentially benefiting from improving liquidity expectations. So the immediate themes to watch out for are rates and liquidity. 

With Bitcoin near $63,800, price remains below an important resistance cluster. A sustained move above $64,000-$64,500 would strengthen the short-term structure, while rejection from this area would leave downside pressure intact. A break below $63,400 would bring the $62,400-$63,000 support region into focus. The broader market has recently struggled to clear resistance around $65,000. According to analysts, a sustained move/retest above $64,000-$64,500 would strengthen the case for considering longs, while rejection from that zone keeps short setups relevant.
Ethereum at $1,884 remains between near-term support and resistance. Holding $1,850-$1,870 would preserve the current structure, while acceptance above $1,900-$1,925 would indicate improving momentum. A loss of $1,850 would shift attention toward $1,815-$1,845. 

Among altcoins, Celer Network is trading around $0.001978, down 2.12% over 24 hours, with volume also falling 14.31%. The $0.00195-$0.00197 region remains the first area to watch for price stabilization. A sustained break above $0.00205-$0.00210 would represent a stronger recovery signal.”