According to Binance Square, the global crypto market cap is roughly US$3.1 trillion, falling ~2.5% over the past 24 hours.
Bitcoin (BTC) is trading around US$91,310, down ~2.2% today.
Most of the major cryptocurrencies have mixed performance, but some smaller-cap coins — like CVC, LUNC and DCR — are seeing sharp gains (up 12–36%).
📰 What’s Driving the Market
According to a note shared on Binance Square, the chairman of Bitmine suggests that cryptocurrency prices may have bottomed, hinting at potential long-term upside ahead.
Market sentiment remains cautious as macroeconomic factors such as U.S. sovereign debt levels and upcoming inflation data (e.g. core PCE) could influence expectations for interest-rate moves by the Federal Reserve.
There’s still scepticism: funding-rate data from derivatives markets shows sentiment stays somewhat bearish — meaning many traders remain cautious in the near-term.
📈 What to Watch
If macro conditions improve (e.g. lower rates, positive economic data), we might see renewed interest in risky assets which could support a rebound in crypto.
Smaller-cap coins outperforming lately — they remain volatile, but if momentum holds, these could attract more attention.
Institutional sentiment — comments like those from Bitmine’s chairman — may influence longer-term narratives around whether this is a bottoming phase or just a temporary dip.
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