Key Takeaways
- • Total crypto market capitalisation stands at $2.83T, up 1.1% over 24 hours but 3.5% below its level a week earlier, according to Investing.com's market overview.
- • Bitcoin is trading near $84K and must sustain a move above roughly $87K to open a path toward $94K, per the publication's technical analysis.
- • Net outflows from US spot Bitcoin ETFs totalled $681.1 million over the week, the largest since late June, while spot Ethereum ETFs saw $542.1 million in outflows, the largest since January, according to SoSoValue.
- • Ethereum lead developer Justin Drake warned the market could move into 'bunker mode' within 'months, not years' as AI advances threaten wallet security, and Glassnode estimates 21% of Bitcoin supply is vulnerable.
Summary
The crypto market extended a recovery into its fourth consecutive day of gains, but the rebound has been cautious. Total market capitalisation reached $2.83T, having recouped only about two-thirds of the losses sustained on Wednesday and Thursday of the prior week. The market is approaching a support zone that held at the end of September. Altcoin performance was broadly positive over the last 24 hours, with rising coins outnumbering falling ones roughly 12:1. Filecoin (+13.2%), Internet Computer (+12.8%) and NEAR Protocol (+11%) led gains, while Cosmos (-3.5%), Theta Network (-1.9%) and Immutable (-1.5%) underperformed.
Bitcoin opened the week near $84K, moving away from the 50-day moving average it touched on Thursday. Investing.com analysts argue that resistance has not shifted downward and may only materialise near $87K, with a sustained move above that level required to target $94K. The publication described the buying on dips as evident but overall sentiment as fairly cautious.
Institutional flows remain a key pressure point. According to SoSoValue, spot Bitcoin ETFs recorded $681.1 million in net outflows over the week, the highest since the end of June. US spot Ethereum ETFs posted outflows for a second consecutive week, totalling $542.1 million, the largest since January.
Other developments include TD Cowen raising its Bitcoin forecasts while warning that new securities issuance and Strategy's financial obligations may limit returns for its ordinary shareholders. Separately, Lookonchain data show mining company MARA transferred 996 BTC to Galaxy Digital addresses, after previously selling part of its holdings while continuing to mine and accumulate coins. Justin Drake, a lead Ethereum developer, called on the industry to enter 'bunker mode' over wallet-hacking risks linked to advancing AI capabilities, which he said could materialise within months rather than years.
Bitcoin opened the week near $84K, moving away from the 50-day moving average it touched on Thursday. Investing.com analysts argue that resistance has not shifted downward and may only materialise near $87K, with a sustained move above that level required to target $94K. The publication described the buying on dips as evident but overall sentiment as fairly cautious.
Institutional flows remain a key pressure point. According to SoSoValue, spot Bitcoin ETFs recorded $681.1 million in net outflows over the week, the highest since the end of June. US spot Ethereum ETFs posted outflows for a second consecutive week, totalling $542.1 million, the largest since January.
Other developments include TD Cowen raising its Bitcoin forecasts while warning that new securities issuance and Strategy's financial obligations may limit returns for its ordinary shareholders. Separately, Lookonchain data show mining company MARA transferred 996 BTC to Galaxy Digital addresses, after previously selling part of its holdings while continuing to mine and accumulate coins. Justin Drake, a lead Ethereum developer, called on the industry to enter 'bunker mode' over wallet-hacking risks linked to advancing AI capabilities, which he said could materialise within months rather than years.
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