The crypto market is currently facing mixed signals and lacks momentum. Traders are cautiously waiting for clearer trends, especially since Bitcoin could not surpass the $70,000 resistance.
Funding rates are decreasing while downside hedging grows, and overall trading volumes are low, casting doubt on the rebound’s strength.
As of now, the total cryptocurrency market capitalization stands at 2.29 trillion USD with Bitcoin and Ethereum trading volumes recorded at 48.9 billion USD and 22.9 billion USD respectively.