The crypto market continues to remain under pressure, with most altcoins bleeding in losses for the third week. Bitcoin on Monday reflected a loss of under four percent over the last day. At the time of writing, the price of BTC stood at $69,040 — significantly higher that the $64,000 mark it was hovering over last week, but still plagued with dips.
Ether logged a loss of 3.85 percent over the last day. At the time of writing, ETH was trading at $2,040.
In conversation with Coin Headlines market analysts said the market is still cautious, and short-term pullbacks remain possible. Last week, ETH was trading at its yearly low of $1,935
“Bitcoin showed a brief recovery over the weekend, moving above $72,000, but it could not close above this level by the end of the day. Ethereum, on the other hand, is showing stronger signs of recovery after reclaiming the $2,000 level and holding it. Thas been a flip in ETH’s funding rate that shows a clear shift toward bullish positioning,” said Akshat Siddhant, Lead quant analyst, Mudrex. “For Bitcoin, a positive short-term outlook depends on a sustained move above $71,000. Until then, prices may continue to move within a range.”
BNB, XRP, Solana, Dogecoin, Bitcoin Cash, and Cardano registered losses of under five percent over the last day. Chainlink, Monero, Stellar, Litecoin, and Zcash also failed to see any profits on Monday.
The overall crypto market cap tumbled by 2.82 percent over the last day, data by CoinMarketCap showed. At the time of writing, the valuation of the sector stood at $2.35 trillion.
The crypto fear and greed index score remains at nine — indicating at extreme fear among the investor community.
“Volatility compression hints at expansion, but direction depends on whether support breaks or resistance finally yields. The daily price chart remains in a corrective downtrend. For Bitcoin, momentum and oscillators stay bearish, with RSI near oversold and all major moving averages overhead. Bulls need a sustained breakout above resistance,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines.
Contrary to most altcoins seeing losses, Donald Trump-backed WLFI token roped-in gains of 5.23 percent to trade at $0.1069.
Over 98,100 traders were liquidated in the past 24 hours with the total liquidations hotting $337.71 million, data by CoinGlass said.