Why is the market up today?
liquidation risks if macro sentiment reverses.
3. Stablecoin Reserve Growth (Bullish Impact)
Overview: U.S. authorities seized $5.8M ETH linked to a 2021 hack, expanding the Treasury’s crypto holdings to $34.7M (MEXC News).
What it means: Regulatory seizures paradoxically signal long-term state adoption, while reducing circulating supply of seized assets.
Conclusion
Today’s rally combines Ethereum’s institutional momentum, equity market tailwinds, and strategic stablecoin accumulation. While leveraged positions introduce volatility, the alignment of ETF catalysts and macro policy shifts suggests cautious upside. Will Ethereum’s dominance hold if Bitcoin’s SOPR metric flashes late-cycle exhaustion? Monitor BTC dominance (now 57.76%) for rotation signal.
