The main driver behind the positive dynamics was US economic data: unemployment fell from 4.3% to 4.2%, while non-farm payrolls came in at 57,000, below both the 114,000 forecast and May’s 129,000 figure, indicating signs of cooling in the labour market. Combined with lower oil prices, which may help inflation slow down, this could lead the US Federal Reserve to refrain from further monetary tightening in the near term. According to LSEG data, traders now estimate the probability of an interest-rate hike in September at only 35.0%, compared with 80.0% before the release. Some experts have also begun to question whether monetary policy will be adjusted this year. Against this backdrop, the US dollar weakened significantly against alternative assets, including digital currencies.
The strengthening of digital assets was also supported by the stabilisation of Asian stock markets after two days of declines and the beginning of a recovery in technology shares. Among the top ten leading digital assets, SOL is recovering the fastest, gaining 14.7%. Analysts link this to the broader growth of the DeFi market and the rising popularity of tokenised securities. According to RWA.xyz, their trading volume exceeded 2.5 billion dollars last week, increasing tenfold compared with the previous month. More than 80.0% of such assets are currently issued on the Solana blockchain due to its speed and usability.
Nevertheless, overall sentiment across the sector remains negative, making the current upward correction unstable. The Fear and Greed Index rose from 11 to 21 but remained in the “extreme fear” zone. On Thursday, exchange-traded instruments recorded their first inflow in ten days; however, the broader trend remains negative, as Bitcoin ETF holdings decreased by 2.73 billion dollars over this period, while total ETF outflows since the beginning of the year reached 5.4 billion dollars. Additional concerns were triggered by a statement from Strategy Inc., the largest public holder of BTC, regarding its intention to sell more than 1.0 billion tokens to strengthen its financial position. The possibility of such large volumes of the leading cryptocurrency entering the market could place serious pressure on all digital assets in the medium term.
Overall, the cryptocurrency market remains highly mixed, and in the near future most major digital currencies may resume their decline or move into consolidation.
While leading cryptocurrency prices remain at relatively low levels, many investors view the current market environment as an opportunity to gradually build positions. To compare suitable platforms, visit the cryptocurrency exchange ranking on FORECK.INFO, featuring reviewed exchanges, user feedback, commission details, deposit methods, supported cryptocurrencies and available trading tools.
Before registering and purchasing digital assets, it is important to compare exchange conditions, assess security standards, liquidity and any restrictions that may apply in your country.
