Bitcoin Bulls Are in No Hurry

The crypto market has taken another step downwards, losing just over 1% in the last 24 hours to $2.83T. This marks a breakout from the range seen over the last few days, with an attempt to establish a downtrend this week. The bulls may be simply gathering strength ahead of the next upward surge. However, in the short term, the situation looks rather worrying against the backdrop of weakening stock indices and the bond market, as well as continued flight to the safe-haven US dollar.

What makes this all the more interesting is that movements in the cryptocurrency market over the past day have been mixed. Among the most actively traded coins, the top performers were Near (+4.9%), Cosmos (+1.5%) and Tron (+0.5%). That said, the ratio of falling to rising coins is currently around 9:1. At the other end of the spectrum are Uniswap (−5.9%), Litecoin (−5.2%) and XRP (−5.1%).