The cryptocurrency market has entered a new short-term phase characterized by heightened caution and reduced trading activity, with traders focusing on key psychological price levels. Over the past 24 hours, digital assets broadly weakened and displayed signs of consolidation rather than panic selling. The total cryptocurrency market capitalization declined over the past day, driven by broad but contained selling pressure, with large-cap assets showing relative resilience while mid-cap and smaller coins pulled back more. Stablecoins also saw increased activity as participants sought lower-risk options.
Bitcoin remains the market’s reference point, anchoring sentiment as it repeatedly tested a major psychological level near 70,000. The price drifted back into the upper-60,000 range as buyers offered only tentative support. The failure to sustain gains above that round number reinforces a view that Bitcoin is range-bound rather than trending higher in the near term.
Ethereum underperformed Bitcoin over the past 24 hours, underscoring a more cautious stance toward risk-on assets. This relative weakness is notable because Ethereum often acts as a proxy for wider market appetite. Altcoins were the weakest segment, with many posting deeper declines than Bitcoin and thinner-liquidity tokens experiencing amplified swings. Trading volume declined sharply, signaling that participants were stepping back rather than aggressively repositioning.
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