The crypto market appears to be navigating international macro uncertainty with price sentiments swinging from profits into losses on a daily basis. On Monday, Bitcoin reflected a price hike of 3.64 percent in the last 24 hours. At the time of writing, the asset was trading at $71,022, showed data by CoinMarketCap.
Ether price is up by 3.85 percent over the last day. At press time, ETH was retailing at $2,165.
In conversation with Coin Headlines, market analysts said that in the near term, the price action for most cryptocurrencies is likely to remain range-bound, with macro developments continuing to dictate directional bias.
“From a technical perspective, Bitcoin is holding a key support zone near $66,000–$67,000, while Ethereum is testing critical levels around $2,000, suggesting a fragile market structure in the near term,” said Riya Sehgal, Research Analyst, Delta Exchange. “Additionally, structural shifts within crypto, including growing discussions around token-to-equity models and stronger value accrual mechanisms, indicate a maturing market.”
BNB, XRP, Solana, Dogecoin, and Hyperliquid joined BTC and ETH in reflecting gains within the range of one percent and four percent. Bitcoin Cash, Cardano, Leo, Monero, and Chainlink also clocked profits along the similar margin.
“This comes against a backdrop of elevated oil prices, rising bond yields, and persistent inflation concerns driven by geopolitical tensions, which are tightening global liquidity conditions. Unlike typical risk-off environments, markets are witnessing mixed signals, with crypto showing resilience even as traditional safe havens like gold weaken under the pressure of a stronger dollar and higher yields,” Sehgal noted.
The overall crypto market cap rose by 2.22 percent over the last day. The valuation of the sector, as of Monday, stood at $2.42 trillion, data by CoinMarketCap showed.
It is noteworthy that despite these recent profits, most crypto assets are trading at prices lower than their seven-day average prices.
The macroeconomic backdrop remains the dominant factor shaping market sentiment. Given Bitcoin’s growing correlation with risk assets, continued weakness in equities could further weigh on crypto prices, according to Ruslan Lienkha, chief of markets, Web3 fintech platform YouHodler.
“The combination of geopolitical risk, elevated energy prices, uncertain monetary policy, and fragile equity market performance creates a challenging environment for Bitcoin,” Lienkha told Coin Headlines. “That said, regulatory developments could provide a short-term counterbalance. Progress on legislation such as the U.S. ‘Clarity Act’ has the potential to improve transparency and confidence in the crypto market.”
Data by CoinGlass showed that over 199460 traders were liquidated in the last 24 hours with the total liquidations hitting $823.56 million.