Crypto Market Update

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The weekend saw choppy price action, following the significant leverage washout in the perps market on Thursday evening. BTC revisited the $65k level, marking a roughly 12% decrease from the previous week's high of $74k. Since then, its price has partially recovered, currently trading just above $67k. ETH experienced a steeper decline and a less vigorous recovery, dropping from last week's high of $4100 to $3400, and is now trading...

The crypto market suffered from a sharp decline early this morning, which saw BTC (-4.48%) fall over 8% to the mid $65,000s before paring losses to $68k. ETH (-5.07%) and altcoins saw similar price action, fueling over $727 million in liquidations over the last 24 hours. Funding rates have been getting frothy, and the drop helped to bring rates to more neutral levels across the board (see below). SOL (+3.18%)...

BTC surged in the overnight hours, nearing $74k, following a day of record inflows into spot ETF products. It's now trading around $72.5k. ETH is showing relative weakness this morning, dipping just below $4k. This may be due to capital rotating into Layer 2 solutions and other Ethereum-related assets following the successful Denunc upgrade. Ethereum-adjacent assets such as AAVE, SYN, MATIC, MKR, and ARB, are outperforming thus far today. SOL...

Bitcoin broke out above $70k during the overnight hours, now floating above $72k, marking another new ATH. This price action was closely mirrored by ETH's resurgence above $4k, currently trading around $4050. AVAX is outperforming on the day, following the announcement that South Korean game publisher Nexon Group will transition its popular MMO RPG, MapleStory, onto the Avalanche network as MapleStory Universe. Meanwhile, NEAR also continues to outperform, likely fueled...

In a volatile day, BTC (-4.51%) has made a new all-time high, briefly surpassing $69k before retracing to the low $65k range. ETH (+1.55%) is showing strength, trading around $3.7k as attention may shift towards Ethereum and related names ahead of the Dencun upgrade next week. Layer-2 tokens support that notion, as OP and ARB are outperforming today, gaining 13.46% and 4.44%, respectively. Some of the meme-mania has subsided, with...

BTC has soared to a new all-time high market cap, and is currently hovering just above $67k, with its sights set on $69k. Meanwhile, ETH is slightly behind, inching up to just under $3600. The market appears to be adopting a barbell strategy, with Bitcoin maintaining its strength, yet beyond meme coins, few assets are significantly outperforming. The sustained rallies in DOGE, BONK, PEPE, and SHIB unmistakably signals the resurgence...

Bitcoin (BTC) continues its stellar week, rising 9.02% to surpass the $62k mark and bring it within 11% of its all-time high. ETH has gained 5.43% today, exceeding $3,400, a level not seen since April 2022. Meme coins are outperforming today, with PEPE, DOGE, and WIF gaining 21.63%, 19.07%, and 23.25%, respectively. The strong moves across various names have squeezed shorts, with over $209 million in short liquidations in the...

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