Market Overview
The total market capitalization of digital assets rose by 0.8% to $2.49 trillion. The market is trying to consolidate above the 200-day moving average, but the growth of cryptocurrencies appears significantly more modest than the rally in U.S. stocks. This is most likely a technical move, and such restraint could at any moment turn into a return to the downtrend. We believe this is influenced by the situation in the technology sector and the uncertainty surrounding Anthropic’s IPO. However, the fact that the decline has halted and a rebound from the 200-day moving average has occurred indicates attempts to maintain the uptrend. Buyers are fairly optimistic: over the past 24 hours, for every asset that fell, there were nine that rose. Avalanche (+8%), Cosmos (+6.1%), and Basic Attention Token (+5.5%) are performing the best. Meanwhile, Dash (-2.1%), Immutable (-1.3%), and Official Trump (-0.5%) are lagging behind the market so far.
On Tuesday, when the European session opened, Bitcoin was trading around $75,000. The leading cryptocurrency managed to bounce off its 200-day moving average, but this does not yet look like a full-fledged reversal. The risk of the downtrend resuming remains high. If the price falls below $73,500, it will signal that the downtrend will continue. To confirm a shift to an uptrend, Bitcoin needs to break above the $80,000 level, but prices are currently hovering closer to the lower boundary.
Ethereum often serves as a leading indicator for the entire market, and it has now been falling for six weeks. The asset is trading below its 50- and 200-week moving averages, and an attempt to break through the former last week failed. The second-largest cryptocurrency is approaching a long-term support level, where the past four years have typically ended with sell-offs. However, judging by what happened in May, another 20% decline from current prices is possible before any real growth begins.
News
Bloomberg Intelligence strategist Mike McGlone believes that if Bitcoin fails to hold above $80,000, it could signal a major crash by the end of the year. In his view, BTC reflects investors’ risk appetite, and if both Bitcoin and copper weaken at the same time, it could foreshadow a serious crisis in the markets.
Analysts at BlackRock have noticed an interesting trend: large Bitcoin holders are increasingly exchanging their coins for ETF shares to safeguard their funds. Since July 2025, $3.6 billion worth of Bitcoin has been converted into IBIT shares.
Grayscale emphasized that Ethereum remains the leading platform for financial blockchain services. The network outpaces its competitors in terms of the number of developers, applications, the volume of tokenized assets, and stablecoins.
The crypto platform Coinbase has received a trust bank license in the U.S. It can now process payments and hold crypto assets, but it is not permitted to engage in lending or handle bank deposits.
Strategy continues to buy up Bitcoin. Last week, they purchased 1,036 BTC at an average price of $79,000 per coin. The company now holds 850,364 BTC with an average purchase price of $75,500 per coin.
Last week, BitMine acquired 9,587 ETH, bringing its reserves to 6.07 million coins. This represents nearly 5% of the total supply. To reach its 5% target, the company needs to acquire approximately 32,000 more ETH.