After a tense weekend marked by geopolitical instability and market declines, the crypto market is showing signs of recovery.
Overview of the Crypto Market
The crypto market is beginning to show signs of life, with overall market capitalization reaching $3.12 trillion, an increase of 2.42% in the last 24 hours. Bitcoin continues to lead the market, trading above $101,400 with a 5.7% gain over the past week. Ethereum is also exhibiting positive trends, rising by 14.6% weekly, while altcoins like XRP, Solana, Dogecoin, and Cardano post double-digit weekly gains.
Key Players and Their Market Impact
One of the major confidence boosters for Bitcoin has been the news that MicroStrategy's Michael Saylor bought $1 billion worth of BTC. This massive purchase sent a strong signal of institutional confidence, activating interest in altcoins such as ETH, XRP, ADA, DOT, and Pi Network. Additionally, the asset HYPE surged over 22% this week.
Market Pressure from Macro Risks
Despite the positive developments, the Altcoin Season Index remains low at 15 out of 100, indicating Bitcoin's still dominant position in this rally. With geopolitical fears easing and options expiries concluded, crypto markets are stabilizing, although macro risks persist.
Despite the recovery and increased purchasing activity, traders are advised to remain cautious as significant macroeconomic risks and key market events, such as ETF developments, continue to loom.
