The cryptocurrency market is experiencing mixed signals and fragile momentum, according to 10x Research's latest report. Despite a rebound in Bitcoin ETF inflows and strong stablecoin minting, traders are cautious as funding rates decline and downside hedging increases. Trading volumes remain low, raising doubts about the sustainability of any market rebound without a significant liquidity catalyst.
Bitcoin's attempt to surpass the $70,000 mark was unsuccessful, with the total cryptocurrency market capitalization standing at $2.29 trillion. Weekly trading volumes are reported at $109 billion, with Bitcoin and Ethereum accounting for $48.9 billion and $22.9 billion, respectively. Ethereum network fees are notably low, reflecting reduced network activity. Key events this week include CPI data releases, the unlocking of $4.7 billion in altcoins, and potential shifts in geopolitical risks.
Crypto Market Faces Mixed Signals Amid Low Trading Volumes
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