The cryptocurrency market opens this Thursday with prices practically flat and a prevailing trend that leans more toward caution than optimism. Neither Bitcoin nor Ethereum has managed to break out of negative territory so far this year, and the rest of the top 10 also offers few surprises.
Bitcoin: stuck between supports and resistances
Bitcoin trades today in a range between $63,400 and $64,000, with a market capitalization close to $1.3 trillion. This morning’s data shows something noteworthy: the daily, weekly, monthly, and yearly trends for the opening price have turned negative, something that hasn’t happened in recent weeks.
The asset continues to trade below its 7-, 15-, and 30-day moving averages, a technical indicator often read as a sign of short-term weakness. However, not everything is negative: the 30-day return remains positive (+1.28%), which some analysts interpret as a possible early indication of stabilization after the recent drop.
In the macro space, two forces are pulling in opposite directions:
In favor of a recovery: signals that the Federal Reserve will not raise rates in September, combined with July inflation data that came in line with economists’ expectations.
Against: geopolitical uncertainty in the Middle East, particularly as long as the Strait of Hormuz remains closed, continues to weigh on risk assets such as Bitcoin.
Ethereum and the rest of the market
Ethereum is trading in a range of $1,900 to $1,980, with slight daily fluctuations. Its market capitalization is around $230 billion, far below Bitcoin but solid compared with the rest of the altcoins.
A notable detail: of the ten largest cryptocurrencies by market capitalization, only two—TRON and Hyperliquid—are in positive territory so far in 2026. Neither Bitcoin nor Ethereum is among them. Today’s session reflects that very superficial calm: most large tokens closed the past 24 hours within just about a 1% swing compared with where they started.
In summary
The market is sideways, with no clear catalyst to drive a strong move in the short term.
Bitcoin faces a tug-of-war between favorable macro signals (a possible pause by the Fed) and unfavorable geopolitical pressure.
So far, 2026 has been a weak year for both leading assets versus their previous all-time highs.
An important note
This summary describes the current state of the market for informational purposes only; it is not an investment recommendation or a buy/sell signal. Cryptocurrency volatility is high—30% to 40% drops are not unusual even in bullish markets—and any trading decision should be based on individual research, risk management, and each person’s financial situation.
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