I'm happy for Indian crypto users because it does seem like action is being taken and that the central bank circular could very well be overturned. I don't think that's the reason for the small pump though. I mean, India as a whole is still a small market and you have to consider the fact that nothing has changed yet. Banks still won't let you use their services for crypto-related activities once the deadline comes. Even if the market were large enough to cause a pump, it's really not the time to go crypto buying yet.

Also, did the circular itself cause a significant price movement? I don't seem to remember any that coincided with the its release. If the panic that caused didn't move the market, it's highly unlikely that optimism against it could move the market.