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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Bitcoin oversold Rebound altcoins fall institutional funds slightly outflow
Market Overview
Macroeconomic Environment
Recently, the liquidity of the currency has improved. The unpredictability of Trump's tariff policy has brought uncertainty to the market, weakening investors' confidence in the U.S. economy. This impact is expected to persist in the coming months. U.S. Treasuries and the dollar are showing a downward trend, while U.S. stocks are experiencing significant fluctuations. The cryptocurrency market is also experiencing severe turbulence.
Market Performance
This week, Bitcoin experienced a significant rebound after a sharp decline, but small tokens generally fell. The market lacks clear hotspots and mainlines.
The top five tokens with the highest increase are XCN(110%), a certain meme coin(100%), GAS(60%), LAYER(40%), and UXLINK(30%). The top five tokens with the largest decrease include BERA(40%), EOS(20%), MEW(20%), W(20%), and NEAR(20%).
It is worth noting that:
On-chain Data Analysis
Bitcoin market capital inflows have stagnated. Liquidity is rapidly contracting, and the total market value of altcoins has dropped from 1 trillion dollars at the beginning of the year to 600 billion dollars. This round of decline has affected a wide range of sectors, with each sector suffering heavy losses.
Institutional funds experienced a slight net outflow, and panic sentiment spread across the global market. The market value of stablecoins has slightly declined, and investors' risk aversion sentiment is apparent.
The long-term trend indicator MVRV-Z Score is at 1.6, close to the bottom range. This indicator is in the top range when greater than 6 and in the bottom range when less than 2. The current level reflects that holders are generally in a state of loss.
Futures Market
The funding rate remains at a low of 0.00% this week. The open interest continues to decline, indicating that the main funds in the market are exiting. The long-short ratio is 1.9, reflecting a market sentiment tilted towards greed. However, this indicator is highly volatile, so its reference value is limited.
Spot Market
Bitcoin experienced severe volatility this week, while altcoins lack new narrative drivers. Global financial market pressures have intensified due to uncertainties surrounding U.S. tariff policies. This weakness has spread to most asset classes, and the cryptocurrency market has not been spared.