The market's still looking a bit weak today, but it's not as grim as yesterday.
BTC is hovering around $63,470, down 0.9% in the last 24 hours; ETH is at $1,740, down 3%; BNB is at $600, down 1.9%; SOL is at $67.8, down 4%. According to CoinGecko, the total market cap is around $2.27 trillion, indicating the market is still in recovery mode, but risk appetite hasn't truly returned yet.
The main pressure in the market hasn't changed; institutional money is still pulling out. A few days ago, Bitcoin-related investment products saw a net outflow of about $1.438 billion in just one week, and digital asset products overall had a net outflow of around $1.67 billion for the week. The ETF line hasn't provided any support lately; instead, it's been dragging down the mood.
So, my feeling is still that we shouldn't be too eager to call a reversal in the short term. It feels more like a weak recovery after the drop. BTC needs to hold the $63,000 level; if it can't stabilize, the altcoins are likely to continue feeling the pressure.
BTC is hovering around $63,470, down 0.9% in the last 24 hours; ETH is at $1,740, down 3%; BNB is at $600, down 1.9%; SOL is at $67.8, down 4%. According to CoinGecko, the total market cap is around $2.27 trillion, indicating the market is still in recovery mode, but risk appetite hasn't truly returned yet.
The main pressure in the market hasn't changed; institutional money is still pulling out. A few days ago, Bitcoin-related investment products saw a net outflow of about $1.438 billion in just one week, and digital asset products overall had a net outflow of around $1.67 billion for the week. The ETF line hasn't provided any support lately; instead, it's been dragging down the mood.
So, my feeling is still that we shouldn't be too eager to call a reversal in the short term. It feels more like a weak recovery after the drop. BTC needs to hold the $63,000 level; if it can't stabilize, the altcoins are likely to continue feeling the pressure.