Market Overview

The crypto market soared by more than 4% to $2.71T, reaching May’s highs at the very start of the day following nearly two weeks of consolidation after the rally. Bitcoin was the key driver, with altcoins actively supporting it, but the renewal of highs soon fuelled profit-taking. It appears there is a strong inclination towards short-term profit-taking in the markets, coupled with scepticism about the market shifting into a bullish phase. Among the top coins over the past 24 hours, the top gainers were Dash (+18%), Zcash (14.7%) and Uniswap (+9.5%), whilst the worst performers were Filecoin (-4.8%), Aptos (-2.7%) and Immutable (-0.6%).

Overnight, Bitcoin rose to $82K between the active trading sessions in the US and…