The cryptocurrency market has shown signs of stabilization following a bearish assault. Bitcoin is currently trading around $61K, while Ethereum is consolidating below the significant $3K level. Despite a sudden price correction influenced by a statement from a US Federal Reserve representative, the market has calmed, suggesting the worst may be over. However, a recovery attempt was halted at $61.4K as sellers stepped in. Notably, the Fear and Greed index indicates the market is still in a state of "greed."

Major altcoins are yet to fully recover from the recent crash, but are showing signs of consolidation and slight gains. Despite a green 24-hour heatmap, most cryptocurrencies are trading in the red on a seven-day scale. Ethereum's consolidation below the $3K level is of particular interest, as market watchers anticipate whether buyers will reclaim this level soon. Today's best performers are Immutable (IMX), up 4.7%, and Ribbon Finance (RBN), up 3.3%, while Zebec Protocol (ZBC) and Kaspa (KAS) have seen the most significant declines.