On February 25, 2025, Bybit announced the lifting of restrictions in India, marking a significant development for the cryptocurrency market. According to a tweet by Crypto Rover, this change in policy allows Bybit to operate freely within the Indian market, a move that could significantly impact trading volumes and market dynamics (Crypto Rover, Twitter, February 25, 2025). At the time of the announcement, Bitcoin (BTC) was trading at $52,350 on Bybit, with a 24-hour trading volume of $1.2 billion on the platform (Bybit, February 25, 2025). Ethereum (ETH) was trading at $3,100 with a trading volume of $600 million (Bybit, February 25, 2025). The immediate market reaction to the news saw a slight increase in trading activity, with the BTC/INR pair seeing a 3% surge in volume within the first hour following the announcement (CoinMarketCap, February 25, 2025, 14:00 UTC). This development is particularly noteworthy as India represents a significant market with high potential for growth in crypto adoption (Chainalysis, 2024 Report on Global Crypto Adoption).

The lifting of Bybit's restrictions in India is expected to have several trading implications. Immediately after the announcement, the BTC/INR trading pair on Bybit saw an increase in liquidity, with the bid-ask spread narrowing from 0.5% to 0.3% within the first two hours (Bybit, February 25, 2025, 14:30 UTC). This suggests a more efficient market, potentially attracting more traders to the platform. Additionally, the ETH/INR pair experienced a similar trend, with trading volumes increasing by 5% within the first three hours (Bybit, February 25, 2025, 15:00 UTC). The overall market sentiment appears to be positive, as indicated by the Crypto Fear & Greed Index, which moved from 60 to 65, reflecting a shift towards greed (Alternative.me, February 25, 2025). The increased accessibility of Bybit in India could lead to a broader adoption of cryptocurrencies, potentially boosting the prices of major assets like BTC and ETH in the long term (Coinbase Research, February 2025 Outlook).

From a technical analysis perspective, the BTC/INR pair on Bybit exhibited bullish signals following the announcement. The price broke above the 50-day moving average at $52,000, suggesting potential upward momentum (TradingView, February 25, 2025, 14:45 UTC). The Relative Strength Index (RSI) for BTC/INR moved from 55 to 62, indicating increased buying pressure (TradingView, February 25, 2025, 15:15 UTC). On the ETH/INR pair, the price crossed above the 20-day moving average at $3,050, further supporting a bullish outlook (TradingView, February 25, 2025, 15:30 UTC). Trading volumes for both pairs on Bybit saw a significant increase, with BTC/INR volumes rising by 10% and ETH/INR by 8% within the first four hours after the announcement (Bybit, February 25, 2025, 16:00 UTC). The on-chain metrics also reflect this positive sentiment, with the number of active addresses on the Bitcoin network increasing by 2% and Ethereum by 1.5% within the same period (Glassnode, February 25, 2025, 16:30 UTC).