#BTC has returned to check the price zone $88,000, sparking debates over whether the market has hit bottom or selling pressure continues to weigh heavily. #ETH also grew, surpassing the $2,800 mark.
Is this a sign that the market has shifted to an uptrend?
Analysis of the current cryptocurrency market trend
From a macro perspective, in the past 24 hours, nearly $50 billion has flowed into the cryptocurrency market. Notably, Bitcoin alone attracted about $30 billion – accounting for 60% of the total cash flow, indicating that investors still prioritize BTC over altcoins, maintaining a Bitcoin-led cycle. As a result, the Altcoin Season Index has dropped by 3 points, down to 39.
However, this recovery has not spread widely across the market. Cash inflows remain primarily focused on BTC, making it too early to determine the market bottom, especially when the TOTAL index has decreased by 0.38% on the day.
Overall, market participation sentiment remains quite cautious.
For example, BlackRock has made a strong selling move, transferring 2,822 BTC and 36,000 ETH to Coinbase Prime. On the ETF funds side, cash inflows into both BTC and ETH are quite subdued, reflecting the caution of large capital flows.
The Fear and Greed Index also only increased slightly by 2 points to a level of 12, but still remains in the "extremely fearful" zone, consistent with the current market state when 95% of the liquidations in the past 24 hours have come from long positions.
Is this a sign that the market has shifted to an uptrend?
Analysis of the current cryptocurrency market trend
From a macro perspective, in the past 24 hours, nearly $50 billion has flowed into the cryptocurrency market. Notably, Bitcoin alone attracted about $30 billion – accounting for 60% of the total cash flow, indicating that investors still prioritize BTC over altcoins, maintaining a Bitcoin-led cycle. As a result, the Altcoin Season Index has dropped by 3 points, down to 39.
However, this recovery has not spread widely across the market. Cash inflows remain primarily focused on BTC, making it too early to determine the market bottom, especially when the TOTAL index has decreased by 0.38% on the day.
Overall, market participation sentiment remains quite cautious.
For example, BlackRock has made a strong selling move, transferring 2,822 BTC and 36,000 ETH to Coinbase Prime. On the ETF funds side, cash inflows into both BTC and ETH are quite subdued, reflecting the caution of large capital flows.
The Fear and Greed Index also only increased slightly by 2 points to a level of 12, but still remains in the "extremely fearful" zone, consistent with the current market state when 95% of the liquidations in the past 24 hours have come from long positions.
