This rebound was after a choppy two-day stretch. In the past one day, among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, and Hyperliquid gained upto 6%. The global crypto market capitalisation rose up 3% to $2.25 trillion, according to CoinMarketCap.
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In the past week, Bitcoin and Ethereum slipped 4% and 5% respectively. Among the major altcoins, XRP, BNB, Solana, Dogecoin, Cardano, and Hyperliquid plunged over 8% whereas Tron gained 1.5%.
The rebound pushed prices back above $64K, though gains slowed around $64.5K where selling pressure emerged, according to CoinSwitch Markets Desk. While some long-term holders appear to be trimming positions, short-term holders are sitting on losses and are less willing to sell.Meanwhile, smaller investors continue accumulating, adding roughly 31K BTC recently and this steady buying at lower levels could help limit deeper declines, with support near $63K and resistance around $64.5K shaping the short-term outlook, CoinSwitch Markets Desk stated.
Market perspective
Akshat Siddhant, Lead quant analyst, Mudrex
Traders are now watching for a potential short squeeze that could further stabilise prices. Institutional activity is also turning supportive.
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Nischal Shetty, Founder, WazirX
Bitcoin has briefly revived after a sharp correction but at $66k levels, it’s not been able to shake off the oversold sentiment as it has struggled to reach 70k since the last two weeks.
It’s well known now that it’s been driven largely by macro uncertainty, rising trade tensions, stronger dollar pressure. But the downward price movement can be connected to previous cycle corrections where capital rotation due to risk off sentiment caused heavy price swings.
CoinDCX Research Team
The crypto market underwent a strong bullish push, with the Bitcoin price rebounding. However, the other top cryptos, like Ethereum, XRP, BNB, and Dogecoin, remain consolidated below their respective resistance. Meanwhile, Solana price surges above $80 as the market sentiments improve slightly after falling to the lowest levels.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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