The crypto market is still navigating a mix of macro upheaval owing to the ongoing geopolitical tensions, uneven risk appetite, and fading confidence that global central banks will look to ease policies anytime soon. Bitcoin on Monday reflected a price hike of 1.80 percent to trade at $67,890. On a weekly average basis, the asset’s price is down by 3.55 percent. Despite Bitcoin’s rather lacklustre performance, most altcoins retained greens on the price chart.
In conversation with Coin Headlines, most crypto assets are trading in a classic risk-off, consolidation-heavy environment right now. One important observation is the continued strength of stablecoin balances, which indicates that capital is not leaving crypto altogether, but it is rotating defensively.
“Bitcoin’s failure to sustain above the $68,800 zone, after rejection from the broader $70,500–$71,200 area, shows that upside momentum is still capped unless bulls can reclaim key resistance with conviction. On the -four hour structure, BTC is attempting a relief bounce, but it remains below its higher EMAs, which keeps the broader short-term trend fragile,” said Riya Sehgal, research analyst at Delta exchange.
Ether on Monday reflected a profit of 3.84 percent. Its price stood at $2,070 at the time of writing, which is 2.62 percent lower than its seven day average pricing. Overall, ETH’s performance over the weekend has been better than that of Bitcoin.
“Ethereum is showing a pattern similar to that of Bitcoin’s: a tactical bounce, but not yet a structural reversal. ETH has managed to recover above its 20 EMA on the four-hour chart, but it still sits below its 50, 100 and 200 EMAs, so follow-through is still missing,” Sehgal added.
BNB, XRP, Solana, Tron, Dogecoin, Cardano, Leo, Chainlink, Stellar, and Monero roped-in gains within the range of 0.50 percent to 4.50 percent. Zcash has also picked up momentum after undergoing a notable period of price correction. The asset rose in price by nearly six percent to trade at $227.26 at press time.
Meanwhile, a handful of crypto assets also registered losses despite the minor altcoin rally.
Hyperliquid and Bitcoin Cash dipped by 2.56 percent and five percent to respectively trade at $38 and $0.2501.
The overall crypto market cap rose by 1.58 percent over the last day to touch the valuation of $2.34 trillion, data by CoinMarketCap showed. The crypto fear and index score presently stands at 28, indicating the sentiment of fear among investors.
“Short-term weakness followed the $14 billion options expiry and $296 million in weekly ETF outflows, ending a four-week inflow streak. Despite this, whale behaviour makes a bullish case, with wallets holding 10 to 10,000 BTC adding over 61,500 BTC, indicating long-term confidence. Looking ahead, the Fed Chair’s speech and upcoming U.S. jobs data for March will be key catalysts that could shape Bitcoin’s near-term direction,” said Akshat SIddhant, Lead quant analyst, Mudrex.
Over 92,500 investors were liquidated in the last 24 hours with total valuations hitting $370 million, data by CoinGlass showed at the time of writing.