The crypto market is still facing capitulation as most digital currencies are reversing the selloffs registered in the past week.
The crypto market continues to be in the news today as it faces further capitulation with most digital currencies reversing the selloffs registered in the past week. The price of Bitcoin (BTC) remains in the spotlight as the combined crypto market capitalization increased by 2.44% to $2.76 trillion. However, with sellers quietly exiting the market, it remains to be seen whether the underlying factors can sustain the current outlook.
Crypto market heats up as BTC, altcoins show strength
The past month has seen a mixed trajectory for the most traded assets with top coins dropping to their lowest levels this year. While Bitcoin price has shown strength, it fell to a low of $76,624.24 before reclaiming the $80,000 mark according to CoinMarketCap data.
The world’s leading cryptocurrency has since bounced back to trade above the $80,000 mark. In the same period, altcoins like Ethereum (ETH) and Solana (SOL) dropped to new multi-week lows earlier in the month.
While Ethereum fell to a monthly low of $1,760.94, Solana bears dragged the coin down to a $113 low. As it stands, BTC and altcoins have bounced off key support, which was formed at their respective monthly lows.
Since the Digital Asset Summit earlier in the week, the crypto market has not witnessed any bearish negative news. Instead, investors are digesting the Trump promise of stablecoin legislation from Congress and a BTC reserve confirmation.
On the macroeconomic level, mainstream media updates regarding the tariff war have toned down, giving the stock market room to recover.
BTC price shows promise as ETF investors return
At the time of writing, the BTC price had changed hands for $84,295.18, up 2.4% in the past 24 hours. The coin has pared off the losses incurred in the past week. However, the BTC price still maintains its 30-day loss of 14.27%.
For the shorter-term headwinds in the market, ETF investors have returned to the scene. According to an earlier CoinGape report, spot Bitcoin ETFs scored an inflow of $785 million after a tumultuous 7-day trend.
Unlike a typical weekend in the industry known for its volatility, BTC prices show stability. Should the positive regulatory shift continue, Bitcoin might turn the $84,000 level into sustainable support.
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