Bitcoin Dips 1.08% to $70,987, Ethereum Sheds 3.40% – Market Holds Optimism at 38.5/50 Amid Pullbacks

The cryptocurrency market is experiencing pullbacks with Bitcoin down 1.0766% to 70 987 USD, while Ethereum loses 3.3987% and hovers around 2 180.34 USD. Total market capitalization stands at exactly 2 466 241 473 813 USD, reflecting selling pressure in top assets. Nevertheless, cycle analysis for multiple projects including BTC, SOL, XRP, and AVAX points to an "Optimism" phase with a score of 38.5/50, driven by positive ETF inflows (+moderate) and stablecoins (positive), though tempered by a high DXY at 103.2 and Fed rates at 4.75%.

Top Gains and Losses

Top 24h Gains

Top 5 24h Losses

TRON (TRX) stands out with the only notable gain of 0.2617% at a price of 0.316794 USD and market cap of 30 025 964 226 USD. Stablecoins like USDT and USDC maintain stability with minimal changes. Losses dominate, led by XRP with a 3.6298% drop.

Market Analysis

Macroeconomic Overview and Market Cycle

The cryptocurrency market is in an "Optimism" phase with a Cycle Score of 38.5/50 for key assets like BTC, SOL, XRP, AVAX, DOT, LINK, SUI, TON, UNI, and DOGE. On-chain metrics such as MVRV Z-Score 0.4 and NUPL 0.5 suggest healthy valuation without overheating. Positive ETF inflows (+moderate) and stablecoins (positive) align with the post-halving phase (3/3 points), bolstering bullish sentiment.

That said, neutral technical signals with RSI at 50 and MACD indicate a lack of strong momentum. Macroeconomic headwinds, including a high DXY 103.2 and Fed rates 4.75%, pose resistance for risk assets.

Bitcoin and Ethereum

Bitcoin (BTC) trades at 70 987 USD, with a market cap of 1 420 926 416 580 USD (rank #1) and 24h volume 37 061 783 238 USD. The 24h drop of 1.0766% contrasts with a 7d gain of 6.4965%. BTC's Cycle Score 38.5/50 with Puell Multiple 0.999 (3/3 pts) and MVRV Z-Score 0.279 (3/5 pts) underscores cautious optimism.

Ethereum (ETH) falls 3.3987% to 2 180.34 USD, with MCap 263 114 287 314 USD (rank #2) and volume 17 585 180 708 USD. The 7d gain of 6.3713% highlights longer-term resilience.

Key Market Events

Bhutan transferred bitcoins worth 23 million USD, reducing its holdings by 70% from peak (The Block). Chainalysis forecasts stablecoin transaction volume could hit 1.5 quadrillion USD by 2035 (ForkLog). CryptoNews reports an Iranian BTC fee for Strait of Hormuz transit, pushing BTC to 73 000 USD. BitHub.pl notes institutions buying XRP despite price drop.

AMB Crypto analyzes AVAX's weak rally with rejection from the 9.6 USD supply zone. Other RSS articles cover US stocks and YouTube ads, but crypto focus highlights altcoin pressure.

AVAX analysis in Layer 1 (non-EVM) category shows "Optimism" phase (38.5/50), with MVRV Z-Score (0.4) and NUPL (0.5) indicating healthy valuation. Positive ETF and stablecoin inflows bolster bullish sentiment despite neutral RSI (50) and MACD. (KryptoPuls macro context)