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Cryptocurrency Circle 24-Hour Highlights: Market Fluctuations and Regulatory Winds Rising
In the past 24 hours, the cryptocurrency market has experienced significant changes, with the global market cap slightly retreating to approximately $2.99 trillion, while trading volume surged by 13% to $153.5 billion, reflecting complex investor sentiment. Bitcoin (BTC) price has fallen below the $98,000 mark, currently hovering around $97,996, with a slight drop of 0.29% in 24 hours, having evaporated nearly one-third of its market value compared to the peak of $126,000 in October. Ethereum (ETH) has shown even weaker performance, with a decline of over 40% and trading volume down by 18%. This wave of 'crypto winter' may stem from institutional investors selling off: according to data, institutions have withdrawn $1.94 billion from BTC and crypto funds, compounded by tariff uncertainties, triggering collective panic. On-chain analysts observed that whales purchased 1.4 million LINK tokens within 96 hours, suggesting that some funds are bottom-fishing at low levels.
The highlights extend beyond price fluctuations. Cardano (ADA) technical indicators flashed warnings, with prices potentially further probing down to $0.30; HIVE tokens surged by 65% to $0.628, becoming the biggest winner. On the regulatory front, Japan's Financial Services Agency plans to define cryptocurrencies as financial products, introduce an insider trading ban, and lower profit tax rates, aiming to protect users from hacker risks. The Malaysian Ministry of Energy revealed that illegal miners have stolen over $1 billion in electricity since 2020, highlighting compliance challenges in mining.
Additionally, Solana ETF has seen a record net inflow of $5.8 billion for four consecutive weeks, with founder Anatoly Yakovenko expressing optimism, signaling the initial emergence of altcoin season. In the DeFi sector, Enso provided a toolkit on the first day for the new chain Monad to help it fend off fake token attacks. The total amount of newly unlocked tokens reached $566 million, which may exacerbate fluctuations this week.
Overall, the market is reshaping from deleveraging risks, with long-term benefits from clearer regulations. Investors should be cautious as the probability of short-term declines rises to 50% (below $90,000 by year-end), but altcoin opportunities are emerging. In the crypto world, new life may await after the storm.
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