Market overview

The crypto market capitalisation rose to $2.64T in the early hours of Monday but quickly retreated to the $2.60T level that has held steady over the past five days. Bears are aggressively defending the level from which the active sell-off began in February and where local highs were also seen earlier in April. Over the past seven days, the cryptocurrency market has gained 2.8%, with Zcash (+15%), Algorand (+12%) and Cosmos (+9%) leading the way, while Trump (-10%), Theta Network (-2.5%) and Polkadot (-2.3%) lagged.

The sentiment index has risen to 47, entering neutral territory and reaching its highest level since the second half of January. Since last August, the indicator has spent no more than a few consecutive days…