Market overview

The crypto market capitalisation has returned to the $2.19T level, retreating into its previous trading range following a flight from risk assets on Thursday evening and the continuation of this trend on Friday morning. The market remains indecisive just above its 50-day moving average, as bearish momentum has already petered out and buyers have found no reason to act. Over the past 24 hours, leading cryptocurrencies have mostly fluctuated between -2.5% and +1.5%. The biggest gains came from Cardano (+7%) and Algorand (+3.2%), while Near (-4.8%) and Avax (-3.9%) led the declines.

Bitcoin made another attempt yesterday to climb above $65K, but once again failed. The consolidation range has narrowed from $58K to $66K in June…