bitget

The cryptocurrency market is in a mixed mood, with some recent outperformers facing pressure while major cryptocurrencies remain resilient. Privacy-focused coins monero (XMR) and zcash (ZEC) fell more than 4% in the last 24 hours, contrasting with relatively stable trading in bitcoin (BTC), ether (ETH), XRP (XRP), solana (SOL), and others that have bounced back from late Sunday lows.

Notably, the CoinDesk DeFi Select and Smart Contract Select Indices are showing strength, up roughly 5% and 4% respectively since early Asian trading hours, underscoring pockets of growth amid broader caution.

Zcash which, in a rare bright spot against the wider market despondency, has surged over 500% since September, is now teasing a bearish double top pattern (see the Technical Analysis section below). Whether a decline in ZEC heralds a bounce in BTC and ETH — in continuation of diverging trends with majors — remains to be seen.

Hot analysts’ takes about how we are still early in terms of institutional adoption, and how incoming inflows could lift valuations sky-high, continued to do the rounds, offering hope to battered BTC bulls.

In other development, Arca's CIO Jeff Dorman dismissed speculation about #strategy (MSTR) Executive Chairman Michael Saylor liquidating his BTC holdings, noting that Saylor's financial position would likely shield him from selling unless bitcoin’s value collapsed precipitously.

Ryan Lee, the chief analyst at #Bitget urged traders to monitor U.S. regulatory developments, particularly around exchange-traded funds (ETFs), stablecoin payment frameworks and exchange oversight. These could swiftly shift investor sentiment back to a risk-on stance, Lee said.

In traditional markets, #Japan 'ese longer-dated government bond yields surged in response to reports that Prime Minister Sanae Takaichi's first stimulus package may include spending worth roughly 17 trillion yen ($110 billion).

With the country's debt-to-GDP ratio already among the highest globally at 240%, such a move could flood the market with bonds and push yields higher, bolstering the risk of a fiscal crisis. For crypto traders, rising Japanese yields may pressure Treasury bonds, pushing yields higher, and weigh on risk assets like tech stocks and digital currencies. Stay alert!

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