Market Overview

The crypto market capitalisation has risen by 2.3% over the past 24 hours to $2.19T. Still, we see the market’s ability to absorb the news of selling bitcoins from its reserves as the key development. The market began to recover from the initial dip fairly quickly, adopting a pragmatic stance regarding the scale of the sell-off. Although a test of the previous high is still to come, market capitalisation is approaching the 50-day moving average; a sustained move above this level would be an important confirmation of a reversal towards a bullish trend. Among the most active coins, the top gainers over the past 24 hours were Aptos (+6.1%), Internet Computer (+3.8%) and VeChain (+3.7%). Lagging were Stellar (-2.3%), Gram…