The crypto market today showed its clearest stabilization signal after a week-long slide. Bitcoin and Ethereum recovered, total market value improved, and short liquidations overtook long liquidations for the first time since the May 12 selloff began. This shift suggests forced selling may be easing, while traders move back toward two-way positioning instead of one-sided panic.
Bitcoin climbed above $77,000, while Ethereum recovered above $2,100. The total crypto market cap rose to $2.57 trillion, supported by calmer trading volume and selective buying across altcoins and crypto-related equities. Traders also watched whether panic-driven volume would normalize, because lower forced selling often helps markets rebuild stronger support zones after sharp declines.
Bitcoin and Ethereum Recover
Bitcoin traded near $77,184, up 0.73% in 24 hours, marking its first green session in six days. Ethereum rose 0.8% to $2,130, while Solana gained 1.45% to $85.79. XRP edged higher, but BNB slipped slightly.
The rebound remains shallow because Bitcoin still trades below its 200day moving average near $82,228. However, the market structure has improved. Instead of longs being flushed aggressively, short sellers are now absorbing more pressure, which often signals that bearish momentum is losing strength.
Shorts Lead Liquidations
CoinGlass data showed $178.82 million in total liquidations, down sharply from Monday’s $814.50 million. Shorts accounted for $102.76 million, or 57.5%, while longs represented $76.05 million, or 42.5%. This was the first short-led liquidation split since the May 12 decline started.
The four-hour window was especially important. Short liquidations reached $49.38 million, compared with $36.18 million in longs. Bitcoin recorded $35.93 million in liquidations, while Ethereum followed with $30.78 million. ZEC, HYPE, and SOL also saw notable leverage unwinds.
Altcoins Show Selective Strength
Altcoin performance improved, but traders remained selective. Bonfida led gainers with a 46.7% rally on more than $103 million in volume. Lighter climbed 27.6% with over $81 million in volume, showing stronger demand for selected DeFi names.
Derive, Purr, and Banana For Scale also gained, though with smaller liquidity profiles. Meanwhile, losing tokens showed fading momentum. Ronin dropped after its earlier rally, and Billions Network continued to fall on heavy volume, suggesting active selling rather than simple profit-taking.
ETF Outflows Slow Down
ETF flows stayed negative, but selling pressure eased. Bitcoin spot ETFs posted $331.05 million in net outflows, lower than Monday’s $648.64 million, with IBIT leading the decline. Ethereum ETFs lost $62.30 million, mainly from ETHA, while ETHW saw a small inflow. Meanwhile, XRP and Solana products attracted fresh capital, showing selective institutional interest despite BTC and ETH weakness.
Crypto Stocks and Sentiment Improve
Crypto stocks turned green, led by miners. IREN gained more than 8%, while Hut8, Bitmine, and TeraWulf also advanced. Coinbase, Robinhood, Block, and Circle finished positive, reflecting improved confidence after Bitcoin’s recovery.
Sentiment stayed cautious. The Fear and Greed Index held at 39, still in fear territory, but it no longer deteriorated. The Altcoin Season Index also improved to 39, suggesting altcoins are recovering relative to Bitcoin as traders slowly regain confidence across riskier market segments.
Conclusion
The crypto market today looks healthier, but still not fully recovered. Short-led liquidations, slower ETF outflows, stronger miners, and improving altcoin sentiment all point toward stabilization. Still, Bitcoin must hold above $76,000 and reclaim $78,600 to confirm stronger recovery momentum. Until then, the base case remains cautious consolidation rather than a fast V-shaped rebound for now.
