The overall crypto market cap remained sluggish on Friday, with BTC failing to sustain momentum above the $67,000 price mark. The most expensive crypto asset registered a price drop of 1.62 percent over the last day to trade at $66,820.
“Bitcoin has slipped to $66,000, losing momentum after failing to hold the $67,000 pivot. With declining volume and bearish daily/weekly signals, a move toward $63,000 remains possible, especially if a bear flag confirms continuation” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines, commenting on the market status.
Ether joined Bitcoin to register a drop of two percent. The second-most expensive crypto asset is trading at $1,950.
“Across the broader market, Ethereum is showing relative resilience but faces resistance near key moving averages. Overall, fading volume suggests traders await macro catalysts before committing to directional moves,” Vishwanath noted.
A majority of altcoins reflected losses on Friday. These include XRP, BNB, Solana, Tron, Cardano, Hyperliquid, Leo, Canton, and Stellar — all of which reghistered losses within the range of one percent to five percent.
Zcash, Shiba Inu, Cronos, Polkadot, Uniswap, Mantle, and Aster also registered notable losses over the last day.
The situation has remained more or less the same this week — with digital assets trading at notable lows. Analysts, however, believe that policy signals from Washington are giving the industry a much-needed tailwind.
“The Senate’s push for a market structure bill and the CFTC’s new innovation committee underscore a coordinated move toward regulatory clarity. That alignment between U.S. agencies could mark the foundation of a more stable, innovation-friendly environment,” Riya Sehgal, the research analyst at Delta Exchange told Coin Headlines.
The overall crypto market cap rose by 1.19 percent in the last 24 hours. The valuation of the sector has come to $2.29 trillion, CoinMarketCap showed.
Dogecoin and Zcash are among a handful of tokens that registered minor price hikes of under three percent to trade at $0.0936 and $232 respectively.
As per CoinGlass, over 82,800 traders were liquidated in the last 24 hours with the total liquidations hitting $251 million.