🍀Overall market:
The total market capitalization of cryptocurrencies decreased by about 1.4% to 1.7% over the past twenty-four hours, dropping to around $4 trillion.
The prevailing rate is approximately -1.5%, indicating a dominance of overall selling pressure in the market today.
Bitcoin and Ethereum:
Bitcoin temporarily rose above $116,000, then retreated to around this price.
Ethereum experienced strong volatility, briefly rising then returning to show a clear decline.
Gains and losses in other parts of the market:
Alternative currencies like Meme Coins and Fan Tokens recorded strong losses, some dropping by as much as 14.4%.
Ethereum Tokens trading activity has notably increased this week, with tokens like $PEPE recording a high weekly trading volume of $7.8 billion, and OKB achieving jumps of +154%.
Wider selling pressures:
The market decline came due to a mix of overbought correction, macroeconomic pressures, and sudden flows of liquidity into high-risk assets.
Ethereum forecasts optimistic despite the correction:
Analyst Tom Lee predicted that ETH could reach $15,000 by December 2025, which is an encouraging trend for optimistic investors.
🌟Brief overview:
The overall market is moderately retreating after a local correction wave.
BTC and ETH: slight increase but pressure still persists, especially on ETH.
Investors are active in Ethereum tokens with some leaders in trading and performance.
Overall performance is negative, with some positive indicators in the medium term (Tom Lee's outlook).
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