Key Takeaways
- • Total crypto market capitalisation held near $2.80T, a 0.7% daily range, as traders adopted a wait-and-see stance ahead of US inflation data, according to FxPro's market overview.
- • Bitcoin stayed stagnant around $83.4K, above its 50-day moving average near $81K but unable to break above $84K.
- • BAT rallied roughly 87% over seven days and 150% over 30 days, trading near $0.20 after a golden cross formed on the daily timeframe, with the daily RSI approaching 90.
- • Strive bought 3,311 BTC at an average of about $84.5K, lifting its reserves to 32,773 BTC and placing it among the top five public companies by corporate Bitcoin holdings.
- • Metaplanet announced $329 million in convertible bonds to repay BTC-secured loans and repurchase shares without selling from its 44,000 BTC reserve.
Summary
The crypto market traded within a narrow band on the day, with total capitalisation at $2.80T by the start of European trading versus $2.81T the previous day, according to FxPro's market analysis. Traders appear to be waiting for signals, slow to act on the dollar's pullback from its highs and on a recovery in bond buying that points to improving risk appetite. Profit-taking in large technology stocks at the start of the earnings season was cited as a drag on crypto, with the sector declining over four of the last five days. Altcoin breadth was weak, with a ratio of rising to falling coins of 1:9.
Bitcoin remained near $83.4K and has avoided sharp moves over the past 24 hours. It has held above its 50-day moving average near $81K but has not been able to clear $84K. Bitcoin is positioned near the Nasdaq-100 on the risk asset spectrum, and the analysis suggests the market is waiting for the release of US inflation data.
Among altcoins, BAT was the standout performer, doubling in price over five days and posting gains of 87% over seven days and 150% over 30 days. The token is trading near $0.20, close to its level at the start of the year. A golden cross on the daily chart is viewed as a bullish signal, while the daily RSI near 90 signals localised overbought conditions; the analysis notes that a similar reading in 2018 was followed by roughly another week of gains and a correction lasting more than a month. The article identifies $0.26 to $0.29, the range of highs from late last year, as a possible upside target. Other top gainers included Bitcoin Cash (+1.2%) and Tron (+0.4%), while Polkadot (-5.2%), Near Protocol (-4.5%) and Internet Computer (-4.3%) led declines.
According to CoinMarketCap, the Altcoin Season Index has reached a new high for the year, with more than 60 leading coins outperforming Bitcoin over the past three months. The top performers cited were the PUMP token from Pump.fun, Quant (QNT) and Raydium (RAY).
Corporate treasury activity also featured. Strive acquired 3,311 BTC last week at an average price of about $84.5K, its largest purchase since January, bringing holdings to 32,773 BTC. Japan's Metaplanet announced $329 million in convertible bonds to repay loans secured against BTC and to repurchase shares, aiming to reduce reliance on those loans while keeping its 44,000 BTC reserve intact. Separately, the STRK token on Starknet rose more than 300% in one month, and its developers plan to migrate the project to their own blockchain, which they say will be fully resistant to quantum attacks by 2027.
Bitcoin remained near $83.4K and has avoided sharp moves over the past 24 hours. It has held above its 50-day moving average near $81K but has not been able to clear $84K. Bitcoin is positioned near the Nasdaq-100 on the risk asset spectrum, and the analysis suggests the market is waiting for the release of US inflation data.
Among altcoins, BAT was the standout performer, doubling in price over five days and posting gains of 87% over seven days and 150% over 30 days. The token is trading near $0.20, close to its level at the start of the year. A golden cross on the daily chart is viewed as a bullish signal, while the daily RSI near 90 signals localised overbought conditions; the analysis notes that a similar reading in 2018 was followed by roughly another week of gains and a correction lasting more than a month. The article identifies $0.26 to $0.29, the range of highs from late last year, as a possible upside target. Other top gainers included Bitcoin Cash (+1.2%) and Tron (+0.4%), while Polkadot (-5.2%), Near Protocol (-4.5%) and Internet Computer (-4.3%) led declines.
According to CoinMarketCap, the Altcoin Season Index has reached a new high for the year, with more than 60 leading coins outperforming Bitcoin over the past three months. The top performers cited were the PUMP token from Pump.fun, Quant (QNT) and Raydium (RAY).
Corporate treasury activity also featured. Strive acquired 3,311 BTC last week at an average price of about $84.5K, its largest purchase since January, bringing holdings to 32,773 BTC. Japan's Metaplanet announced $329 million in convertible bonds to repay loans secured against BTC and to repurchase shares, aiming to reduce reliance on those loans while keeping its 44,000 BTC reserve intact. Separately, the STRK token on Starknet rose more than 300% in one month, and its developers plan to migrate the project to their own blockchain, which they say will be fully resistant to quantum attacks by 2027.
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