Market overview

The crypto market cap dropped by 1.65% over the past 24 hours to $2.41 trillion, with most actively traded coins also declining. NEAR (+1.1%), Tron (+0.3%), and Bitcoin Cash (−0.5%) are performing relatively better than the market. The day’s underperformers include Algorand (−11.4%), Aptos (−6.1%), and Polkadot (−6.1%).

Bitcoin made a fresh attempt to breach $73K on Wednesday but once again encountered a strengthening sell-off, retreating to $71K by the start of active European trading. BTC remains above the 50-day moving average, which has already turned upwards, reinforcing the short-term bullish sentiment. However, we will need to wait for the price to rise above $75K before we can speak of the market entering…