In any online shooter, sound plays a vital role in the acquisition of knowledge about your opponents. Whether your footsteps give away your location, or a pick-up sound alerts enemies that you are defusing a bomb, it’s important to be aware of the audio cues you are giving off.
This is of course also the case in Valorant, but the sounds made my specific actions differ from game to game. Reddit user u/RoyGallant recently posted an image which details exactly what your enemies can and cannot hear in Riot’s new release.

If you have previously played CS:GO, you will notice a couple of interesting contrasts. The other team will not hear you picking up a weapon or item when walking or running in Valorant. Similarly, you will not make a sound when looking down your Iron Sights or Scope. However, unlike in CS, enemies can hear you when throwing a grenade or smoke.
It was also confirmed in the comments that it is impossible to either hear or see enemies during the buy phase at the beginning of rounds. This means if you use the abilities of Agents such as Raze or Sage to get into a good position during set up, your opposition will be none the wiser.
This was a really useful post and hopefully the Valorant community can continue to produce helpful and informative content like this. You can check out the full post in the Valorant subreddit here.