The total cryptocurrency market capitalization stands at approximately $2.4 trillion, while Bitcoin dominance holds near 58%. There are also no significant movements among altcoins: Ethereum is trading slightly above $2,000, while XRP is up around 1.5% near the $1.35 level. Meanwhile, the Fear and Greed Index remains at just 8 points, indicating a state of "extreme fear."
At the same time, the derivatives market suggests the potential for increased volatility. Long positions worth more than $3 billion are concentrated below the $65,000 level, while short positions totaling around $7.65 billion could be liquidated above $70,000. As a result, Bitcoin is currently trading between two major liquidity zones.
Macroeconomic conditions continue to pressure the market. The conflict surrounding Iran, a correction in U.S. equity markets, and oil prices above $110 per barrel are increasing investor caution and reducing demand for risk assets, including cryptocurrencies.
