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Crypto market capitalization slips to $2.19T as BTC stalls under $66K

Bitcoin failed again to break above $65K and is consolidating between $62K and $66K over the past 30 days, while Cardano and Algorand posted gains.

Reported · Written up by our desk · Market Structure

Crypto market capitalization has returned to about $2.19T and pulled back into a prior trading range after a flight from risk assets, according to Action Forex. The market has been trading indecisively just above its 50-day moving average, with bearish momentum fading and buyers not yet stepping in. Over the past 24 hours, leading cryptocurrencies were mostly rangebound, fluctuating between declines and modest gains of roughly -2.5% to +1.5%. Action Forex cited Cardano rising about 7% and Algorand up about 3.2% as the biggest winners, while Near fell about 4.8% and Avalanche dropped about 3.9%. Bitcoin attempted again to climb above $65K but failed, and its June consolidation band of about $58K to $66K has narrowed to roughly $62K to $66K over the last 30 days. Action Forex said the market remains stuck near recent highs, and noted that a breakout above $66K could draw in sidelined traders, while lower trading volumes and limited market depth argue for caution, particularly when using leverage. Action Forex also pointed to Bitcoin position building and shifting network activity. It cited CryptoQuant data showing large holders of Bitcoin, Ethereum, and XRP accumulating while prices stay near or below realized price levels, and said transfer activity by small Bitcoin holders has risen sharply after the Coldcard hardware wallet hack, with transfer volumes at the highest level seen in almost four years. The brief added that a decline in volatility is another reason to be cautious with leverage, and noted work by a group of developers that used AI models to flag 4,962 potential security issues across 390 projects, including 85 critical and 635 high-risk items.

Latest closeBitcoin $64,976.42 ▲1.1%|Ethereum $1,914.66 ▲0.7%|XRP $1.033 ▼0.1%

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