30-5-2025 – The cryptocurrency market, after a spirited surge, has begun to temper its fervour, with the total market capitalisation easing by 2.43% to $3.35 trillion over the past day. Trading volumes, however, have surged to $184.7 billion, reflecting a flurry of activity as investors recalibrate their positions in response to shifting market dynamics.
Bitcoin, the bellwether of the crypto sphere, has stumbled to a nine-day trough, settling at $104,684. Market observers note that the liquidation of long positions signals a short-term softening, with technical indicators like the Super Trend, though still positive, showing signs of waning upward drive. This cooling follows weeks of robust gains, suggesting a pause in the market’s breathless ascent.
Elsewhere, Ethereum has encountered resistance at a critical threshold, resulting in a 3.6% decline to $2,609. Technical analysis reveals a decelerating MACD on the three-day chart, raising the spectre of a potential bearish shift in the weeks ahead, as bullish momentum falters.
The broader altcoin landscape mirrors this retreat. Solana has shed 4.79%, Cardano 5.73%, and Dogecoin a steeper 6.76%. BNB and XRP have not been spared, declining by 2.47% and 3.37%, respectively, while newer entrants like Sui have fallen 4.06%. Stablecoins such as USDT and USDC, true to form, have held steady amidst the volatility.
Global economic currents have also played their part. A second US court ruling blocking President Trump’s proposed tariffs, combined with Treasury Secretary Bessent’s confirmation of stalled trade negotiations with China, has injected uncertainty into markets, dampening sentiment across asset classes, including cryptocurrencies.
The Fear & Greed Index, a barometer of market psychology, lingers at 61, firmly in ‘Greed’ territory. Historical patterns suggest that such elevated levels often precede a cooling-off period, and today’s downturn aligns with this trend, as exuberance gives way to caution.
