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Bitcoin edges higher as crypto market cap rises and sentiment improves
Bitcoin traded above $64.5K as crypto market capitalization rose 1.6% to $2.19T, but sentiment stayed in the fear zone with the index at 41.
Crypto market capitalization rose 1.6% over the past 24 hours to $2.19T, extending a period of consolidation in a relatively narrow range, according to Action Forex.
Among actively traded coins, Tezos gained 3.6%, Aave rose 2.9%, and Bitcoin added 1.3%. The decline was more pronounced in smaller tokens, with Immutable down 6.4%, Filecoin off 5.7%, and Cosmos down 4.8%.
A sentiment index climbed to 41, still classified as the fear zone, and Action Forex noted that only a sustained move above 50 would signal a broader shift in the market cycle. On Monday, Bitcoin moved above $64.5K and recouped losses from the prior seven days as Strategy stopped selling the asset.
Action Forex also highlighted positioning and protocol developments, including UBS boosting its exposure to call options on Bitcoin ETFs 24-fold in the second quarter and Cardano developers publishing a roadmap for the Dijkstra update, with rollout planned in two phases, the first ending by the end of the year and the second targeted for the second quarter of 2027. The brief also noted SafePal reported a data breach affecting about 40,000 users, including the exposure of accounts tied to its platform.
Latest closeBitcoin $64,316.36 ▼0.3%