Crypto cools off, but Bitcoin holds above $100k as stocks rally
📉 Crypto pullback – Bitcoin and Ethereum retreat slightly after a strong multi-day rally
📊 Glassnode signals divergence – New buyers are entering, but seasoned investors remain cautious
🟠 BTC holds $100k – Bitcoin’s momentum above $100k suggests possible price consolidation
📈 Stocks rise – S&P 500 surges 3%, breaking from crypto
CRYPTOCURRENCY markets are taking a breather following last week’s broad-based rally.
Bitcoin (BTC) has dipped slightly to $103k but, crucially, held above the $100,000 mark during yesterday’s pullback, potentially signalling consolidation above a key psychological level.
Ethereum (ETH), which jumped more than 40% last week following the successful Pectra upgrade, has also retraced modestly. Lower-cap altcoins have seen steeper declines, giving back a chunk of their recent gains.
Blockchain analytics firm Glassnode reports a split in market sentiment.
On one hand, new retail entrants are showing strong momentum: “BTC Supply Mapping shows sustained strength in new demand. First-Time Buyers RSI has held at 100 all week,” the firm posted on X.
On the other hand, experienced traders appear to be sitting on the sidelines, with weak momentum buyer signals and rising profit-taking activity.
“If fresh inflows slow, lack of follow-through could lead to consolidation,” Glassnode added.
Meanwhile, US equity markets posted significant gains overnight, with the S&P 500 up more than 3%, a notable divergence from crypto, which often trades in tandem with other risk-on assets.
What might reignite broader participation in crypto markets? Progress on US–China trade negotiations or a dovish shift from the Federal Reserve could be potential catalysts. For now, markets appear to be watching and waiting for the next strong signal.
In the markets…
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is approximately $3.3 trillion, reflecting a 2,53% decrease over the last 24 hours.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at around $102,682, marking a 1.72% decrease in the last 24 hours.
Daily high: Approximately $104,609
Daily low: Approximately $101,109
📈 S&P 500 ⬆️
The S&P 500 index is up about 3.26% since yesterday.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index currently stands at 71/100, indicating a “Greed” among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is approximately 47.7, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.
Post Script…
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
