Market overview
The market capitalization of cryptocurrencies rose 2.52% in the past 24 hours to $2.56 trillion. Among the most liquid currencies, the most profitable were Basic Attention Token (+7.7%), Unchangeable (+7.6%) and Toncoin (+5.9%). Lagging behind are Tron (−0.74%), Uniswap (−0.68%) and Algorand (+0.2%).
The sentiment index continues to rebound, rising to 33, its highest level since January 19. This is still in the fear zone but is now close to neutral levels.
Bitcoin is trading at $76,000, after finding support at its March highs during yesterday’s intraday pullback. This classic shift of resistance into support points to more positive momentum in the coming days towards the $86,000 level, where the 200-day moving average and support area from late last year are concentrated.
News background
According to CoinShares, global investments in cryptocurrency funds rose by $1.401 billion last week, reaching their highest level since mid-January. Investments in Bitcoin increased by $1.116 billion, in Ethereum by $328 million, in Chainlink by $5 million, and in Sui by $2 million. Investments in XRP decreased by $56 million, and in Solana by $2 million.
Bitcoin has consolidated above the price achieved for its short-term holders at around $69,400, notes analyst Darkvost. This helps restore confidence among traders who have recently entered the market and reduces the possibility of them quickly giving up.
65% of Japanese institutional investors use Bitcoin to diversify their portfolios, according to a survey by Japanese financial holding company Nomura. 31% of participants view the market outlook positively. Most investors plan to allocate between 2% and 5% of their capital to crypto assets over the next three years.
Strategy made its largest Bitcoin purchase since November 2024, acquiring 34,164 BTC for $2.54 billion at an average price of $74,395 per coin. The strategy now owns 815,061 BTC, purchased for $61.6 billion at an average price of $75,527 per BTC.
Over the past week, BitMine increased its purchases to 101,627 ETH. The company’s reserves have exceeded 4.97 million Ethereum, representing 4.12% of the Ethereum supply. ETH shows resilience amid geopolitical instability and is in demand in artificial intelligence and asset tokenization, noted Tom Lee, CEO of BitMine.
Investors have withdrawn over $13 billion from DeFi protocols in two days after Kelp, a liquid recovery protocol, was hacked to the tune of $292 million on Saturday.
