The crypto market today showed early stabilization after a week-long slide. Bitcoin moved above $77,000, while Ethereum recovered past $2,100. Total market value rose to $US2.57 trillion as short liquidations overtook longs for the first time since May 12. This shift suggests forced selling may be easing, with traders moving toward more balanced market positioning.
Bitcoin and Ethereum Rebound
Among the top cryptocurrencies, Bitcoin traded near $US77,184, up 0.73%. Ethereum gained 0.8% to $2,130, while Solana rose 1.45% to $85.79. XRP moved slightly higher, but BNB slipped. Even so, the broader tone improved because major assets stopped making fresh lows.
Although the bounce remained modest, the structure behind the move looked more constructive than in previous sessions. Bitcoin still needs stronger momentum to reclaim key resistance, but the market no longer looks as aggressively pressured as it did during the earlier liquidation wave.
Shorts Lead Liquidations
The most important signal came from liquidation data. CoinGlass reported $178.82 million in total liquidations, sharply lower than Monday’s $814.50 million flush. More importantly, shorts represented 57.5% of total liquidations, while longs accounted for 42.5%. That reversal matters because the recent market decline was driven mostly by long liquidations.
Bitcoin recorded $35.93 million in liquidations, while Ethereum followed closely with $30.78 million. Other active names include ZEC, HYPE, and SOL. The four-hour window also showed stronger short-term pressure, confirming that recent positioning had become heavily bearish before the bounce.
Altcoins Show Selective Strength
Altcoin activity has improved. Bonfida led the gainers’ board with a 46.7% rally on more than $103 million in volume. Lighter gained 27.6% with over $81 million in volume, showing stronger demand for selected DeFi and Solana-linked names. Derive, Purr, and Banana for Scale posted sharp gains, though with smaller liquidity profiles.
On the losing side, momentum cooled in names that had recently rallied. Ronin dropped 10.8% after a strong move earlier in the week. Billions Network fell 13.3% on heavy volume, suggesting active selling rather than simple profit-taking. The rotation showed that traders were becoming more selective.
ETF Outflows Slow Down
ETF flows remain a concern, but the pressure eased. Bitcoin spot ETFs saw $331.05 million in net outflows, down sharply from Monday’s $648.64 million. BlackRock’s IBIT drove most of the exit, while other funds were largely flat. Ethereum ETFs posted outflows of $62.30 million, mainly from ETHA. However, Bitwise’s ETHW recorded a small positive inflow.
Interestingly, XRP and Solana ETF products continued to attract inflows. XRP saw $1.48 million in positive flow, while Solana added $3.78 million.
Crypto Stocks Turn Green
Crypto stocks also turned higher, led by miners. IREN gained more than 8%, while Hut8, Bitmine, and TeraWulf also advanced. Coinbase, Robinhood, Coinbase, Block, and Circle finished positive, showing that equity-linked crypto sentiment has improved alongside Bitcoin’s bounce.
Market Sentiment Remains Cautious
Market sentiment remained cautious. The Fear and Greed Index held at 39, still in fear territory, but no longer deteriorating. The Altcoin Season Index improved to 39, reflecting better relative performance from altcoins. Lower oil prices have also helped ease inflation worries, giving risk assets some breathing room.
Conclusion
The outlook now depends on Bitcoin holding the $76,000 area and reclaiming $78,600. If ETF outflows continue to slow, the market could stabilize. For now, the crypto market today looks healthier, but has not fully recovered across major assets.
