The crypto market continues to remain slowed down as BTC and ETH show sluggish price changes. Bitcoin on Tuesday registered a price hike of under one percent to trade at $78,250. The miniscule price uptick for BTC, however, did not bring a notable change in its prices. The asset’s seven day price average is down by nearly 13 percent, data by CoinMarketCap showed.
Ether price was up by 0.50 percent over the last day to trade at $2,306 at the time of writing.
In conversation with Coin Headlines, market analysts said Bitcoin and major altcoins faced extended losses amid forced liquidations and thin liquidity.
“Macro uncertainty, driven by shifting Federal Reserve leadership expectations, strong U.S. factory data, and renewed geopolitical tensions, has further dampened risk appetite. Until institutional inflows return and liquidity stabilizes, BTC risks deeper retracement toward $72,000, while ETH could revisit the $2,000 mark before a sustainable rebound emerges,” said Riya Sehgal, research analyst at Delta exchange.
BNB, Tron, Dogecoin, Cardano, Litecoin, and Shiba Inu registered price dips of under 1.5 percent over the last day. Canton and Hyperliquid, meanwhile, went up in prices by seven percent and 17.3 percent respectively.
Meanwhile, XRP joined Bitcoin Cash, Chainlink, Stellar, Polkadot, Uniswap, and Mantle registered price drops of under two percent. Monero and Zcash clocked dips of under seven percent over the last day.
The overall crypto market cap rose by 0.21 percent in the last 24 hours, with its valuation touching $2.63 trillion, data by CoinMarketCap showed.
Market analysts predict that the market could rebound in the coming days, micro factors indicate.
“Multiple factors, such as US Manufacturing PMI coming in at 40 month high and RSI levels dropping to the 20-25 levels, put BTC on a technically strong footing. Historically, these metrics have preceded strong rebounds. Moreover, hopes of the US government’s partial shutdown have also boosted investor confidence. For now, a weekly close above $74,000 is key to confirming a reversal, with resistance at $85,000,” Akshat Siddhant, Lead quant analyst, Mudrex told Coin Headlines.
Around 100,880 traders were liquidated in the last 24 hours with the total liquidations hitting $291.2 million, data by CoinGlass said.