Bitcoin is now trading near $89,000 after slipping under $90,000 again, and most large-cap tokens are lower on the day, which keeps the Crypto Fear & Greed Index around 25 and indicates that anxiety has eased only slightly from last week while conviction remains thin and easily shaken by routine headlines.

The seasonal “Santa Claus rally” enters the conversation each December because equity desks track a tendency for late-month strength, yet for digital assets, the calendar effect only matters when liquidity and positioning are prepared to carry bids across sessions rather than fade into the close, which is not the profile this market has shown in recent days.

Bitcoin Price (Source: CoinMarketCap)

Seasonality Needs More Than A Calendar

If a holiday lift is going to matter for crypto, order-book depth on the largest spot pairs needs to rebuild into and after the United States session so that routine headline flurries do not push price through thin ladders, and spreads need to remain tight during moderate selling so execution costs do not sap appetite for adding risk late in the day.

Derivatives should confirm the shift with funding that moderates without relying on squeeze-driven bursts and with a futures basis that settles toward neutral rather than flipping repeatedly, because those signs show that leverage is resetting in a controlled way.

Flows then complete the picture when creations for spot Bitcoin products appear in a steady run instead of one-off prints and when net stablecoin issuance turns higher for more than a session or two, since those patterns show new dollars entering rather than the same capital recycling through a narrower set of venues.

Triggers That Could Decide December

Macro drivers still shape the path into year-end because a firm dollar and higher yields have repeatedly leaned on risk assets, meaning that softer rate expectations would remove a headwind, while any renewed hawkish tone would keep bids cautious and push market makers to carry less inventory through event windows.

Rotation beyond Bitcoin usually follows improved depth in the leader rather than leading it, so a healthier backdrop would show advances broadening from Bitcoin into larger caps only after order books thicken and funding calms.

For desks that watch sentiment, the index near 25 says fear dominates, yet not at the extreme levels seen earlier, which can allow short-lived rebounds on quiet days.

But a durable turn requires evidence that arrives together rather than piecemeal, including deeper books through the U.S. close, steadier funding and basis across multiple sessions, a visible run of ETF creations, and a rise in net stablecoin supply that survives beyond a single headline cycle.

If those pieces align, the case for a December lift improves, and the seasonal story becomes a tailwind rather than a distraction, while in their absence, the market remains one adverse policy remark or liquidity wobble away from another test of support.

The post Why This Santa Claus Rally Setup Leaves Bitcoin One Shock Away From Support Retest appeared first on Cryptonews.

Fear still hangs over altcoin season, but the sharp edge of panic has softened. The Crypto Fear and Greed Index is now 25, a modest recovery from November’s plunge near 10, yet the mood remains unsettled, and traders continue to move with hesitation rather than conviction.

Bitcoin sits just above $91,000 after falling steadily from yesterday’s $92,000, marking a 2% decrease over 24 hours.

Altcoins move inside that same heavy climate. Most large names sit in the red today, liquidity stays present, but flows lean toward defense, and new money prefers short-dated trades instead of long commitments.

Against that background, Zcash is one of the few popular tokens in positive territory, while Ethereum, Solana and Hyperliquid track the downtrend, which gives a clean snapshot of where capital still experiments and where it pulls back.

Bitcoin And Sentiment After November’s Shock

Bitcoin continues to dictate the tone. Derivatives screens show a reduction in leverage across both long and short positions, while spot flows lean toward sellers who continue to trim exposure after several weeks of steady declines.

Price action carries the look of a market still searching for stability, not one ready for a quick reversal.

Bitcoin Price (Source: CoinMarketCap)

Ethereum, Solana, and Hyperliquid Track The Pullback

Major altcoins follow that direction. Ethereum is trading near $3,090 after falling by roughly 2.5% in 24 hours, with order book activity showing more supply than demand at current levels. Solana sits near $134 after a 5.5% drop, extending the cooling that began once traders reduced exposure to high beta assets.

Hyperliquid is trading around $31, down by about 8%, and activity on its perpetual pairs has slowed compared with the pace seen in early November. These moves together show how broad the retracement remains, even as volatility cools relative to last week.

Zcash Holds A Bounce After Its November Peak

Zcash breaks from the trend. ZEC is trading near $384, up by about 10% in 24 hours, marking one of the few gains across large liquid names. The token had fallen steadily from its November peak near $700, yet recent market data show more active positioning at current levels and enough liquidity across venues to support a modest rebound.

The move does not form a new upward trend on its own, but it demonstrates the way privacy focused tokens can draw interest during quieter, defensive phases when traders search for assets with a historical pattern of occasional outperformance.

What This Phase Means For Altcoin Season

The current market still lacks the conditions for a broad altcoin season. Sentiment has improved from last week’s extreme lows, yet positioning remains conservative, and flows continue to concentrate in larger, more liquid assets.

Until Bitcoin can stabilize over a longer stretch and macro uncertainty eases, rotation is likely to stay narrow and sporadic. For now, the market sits in a phase where isolated tokens can rise on their own dynamics, but the overall environment still leans toward caution rather than a full risk recovery.

The post Crypto Winter Deepens As Altcoin Season Stalls And Only Zcash Manages A Lift appeared first on Cryptonews.

Bitcoin is currently trading over $92,000, roughly where it stood a day ago. The move steadies nerves after heavy selling, and the Crypto Fear and Greed Index near 27 suggests tension has eased from last week’s trough.

The open question is: does this resilience mark a turn or only a pause inside a still-fragile drawdown?

Bitcoin Price (Source: CoinMarketCap)

Bitcoin & Market Structure Signs

A durable shift usually starts with stronger market plumbing rather than price alone. Order-book depth on the largest spot pairs needs to be rebuilt into and after the U.S. session, since firmer ladders reduce the impact of headline spikes and help produce cleaner closes.

Derivatives should align with that picture; funding that moderates without relying on squeezes, and a futures basis that drifts toward neutral, indicate leverage is resetting in a controlled way. Those conditions support rallies that persist across sessions because cash demand replaces one-off covering that stalls before the close.

Flows add a second layer of confirmation. A stretch of net creations for spot Bitcoin products points to fresh capital rather than recycling, a pattern that has coincided with steadier settlement during past recoveries.

Rising net stablecoin issuance offers further evidence that cash is returning, while flat supply often maps to bounces that fade.

Policy And Rotation Risks

Policy and the dollar still frame risk appetite across assets. Rising yields and a firm dollar have leaned on crypto during risk-off episodes, so relief in rates would remove a headwind. Central-bank calendars continue to matter for intraday tone even when crypto-specific news is quiet.

Rotation outside Bitcoin typically follows, not leads. Large-cap tokens tend to stabilize after Bitcoin depth improves and spot-product flows settle. When the leader’s order books remain thin, altcoins attract only tentative interest, and relative strength rarely lasts through regional handovers.

For now, holding above $92,000 trims immediate pressure and buys time. Clear evidence that a bear phase is ending would arrive together: deeper books through the U.S. close, steadier funding and basis, a run of spot-ETF creations, and an upswing in net stablecoin supply.

Without that mix, the market remains one adverse headline away from another test of support, and larger allocators are likely to stay cautious.

The post Bitcoin Holds Above $92,000, But Bears Have Not Left The Stage appeared first on Cryptonews.

Sentiment continues to ease after last week’s extreme fear, with the Fear and Greed Index climbing to 27 and moving the market further away from the intense stress that defined recent sessions.

Bitcoin is trading near $92,000 with steadier ranges and lower liquidation pressure, which improves conditions across major spot venues and reduces the abrupt volatility that shaped the past two weeks.

This shift does not yet create the conditions for a full altcoin season, although it does support selective rotation into projects that maintain clear usage or active development tracks. Curve DAO Token, Bittensor, and Avalanche fit that profile today with moves that align with themes still drawing attention despite restrained risk appetite.

Curve DAO Token Sees Quiet Repricing

Curve DAO Token (CRV) is trading near $0.42, up by about 8% in 24 hours, supported by deeper liquidity and higher participation across stablecoin pools. The token’s position inside large liquidity routes keeps it relevant when traders prefer tokens linked to functional DeFi infrastructure rather than speculative stories.

Recent volumes show more consistent order flow after a stretch of uneven activity, and the market continues to monitor Curve’s incentive structure and ongoing work on pool adjustments. These elements form a practical base for CRV during a period when many DeFi tokens are still recovering from last week’s pressure.

Bittensor Steadies With Ongoing AI Network Activity

Bittensor (TAO) is now trading around $299, up by roughly 6%. Activity across its subnet ecosystem remains healthy, and staking and validator metrics show stable engagement with decentralized compute work.

TAO Price (Source: CoinMarketCap)

The token benefits from continuing interest in open artificial intelligence networks that provide measurable output rather than relying entirely on narrative-driven momentum.

This stability has helped TAO avoid the deeper swings seen in other high-profile tokens during the recent fear phase. The current move aligns with gradual repositioning toward networks supported by ongoing participation and verifiable utility.

Avalanche Improves As Liquidity Returns

AVAX is near $14.7, up by about 5% in 24 hours. The token moves with recovering liquidity across its major pairs and with activity linked to subnets and scaling efforts. While overall rotation remains selective, Avalanche continues to draw interest from participants who want exposure to layer one ecosystems that still report consistent development and deployment.

The token’s climb remains measured but fits today’s environment, which favors projects that maintain active pipelines and steady integration work rather than those driven only by short-term sentiment.

Altcoin Season Outlook As Pressure Fades

The shift from extreme fear to a reading near 27 creates slightly better conditions for altcoins, although markets still operate within cautious ranges. Bitcoin’s stable behavior near 92000 reduces the abrupt swings that halted rotation last week and allows flows to return gradually to DeFi, artificial intelligence, and layer one networks.

CRV, TAO, and AVAX show how the earliest stages of rotation can form when sentiment improves at the margins. While this is not yet a full altcoin season, the combination of reduced volatility and clearer engagement across these networks indicates that market structure is steadier than during last week’s low point.

The post Bitcoin Near $92K Steadies Market as Curve, Bittensor and Avalanche Lead Altcoin Rotation appeared first on Cryptonews.

Bitcoin is trading near $92,000, up by about 5% over 24 hours, as attention turns to how index rules and treasury policy could intersect in coming weeks. MSCI has an active consultation on the treatment of companies whose treasuries hold digital assets or whose business models are materially linked to them, with feedback windows running into January 2026, according to MSCI’s consultation materials.

In parallel, Strategy’s leadership has acknowledged the option to sell Bitcoin under specific circumstances, a shift in tone after years of continuous accumulation.

In a recent company update, Strategy CEO Phong Le described sales as a last-resort tool if balance-sheet metrics deteriorate, according to coverage and recordings of the briefing.

MSCI’s Consultation and Index Mechanics

MSCI’s review outlines scenarios in which index eligibility, classification, or weights could change if a firm’s risk profile is driven mainly by a digital asset rather than an operating business.

Outcomes range from unchanged inclusion to adjusted treatment or removal, with implementation details and timing to follow the comment window.

Any exclusion would force benchmark-tracking funds to rebalance according to index family rules, constituent weight, and transition procedures.

Liquidity can absorb staged flows, yet turnover tends to spike on effective dates, and moves often amplify when both equity and crypto depth are thin. Strategy’s share price has traded with high Bitcoin beta, which can compound swings during tight liquidity.

Strategy’s Toolkit If Price Pressure Persists

Strategy built its position through cash, convertible debt, and at-the-market equity programs. Management has now described sales as a last-resort tool if balance-sheet metrics deteriorate, a framing that puts liquidity and capital costs ahead of a rigid buy-only stance.

Sustained spot levels below recent add prices raise the effective cost of issuance and debt, while any equity-to-NAV discount can slow net additions.

If sales occur, sequencing becomes a choice between faster de-risking to stabilize leverage and a paced approach to limit market impact, each with different implications for realized gains and tax outcomes.

What Markets Watch Next

On the index side, investors will look for the consultation’s conclusion, any grace period, and whether changes are phased. On the corporate side, filings will be read for updates to issuance plans, leverage targets, treasury language, and purchase cadence.

Crypto-linked flows still shape the backdrop. Net creations in spot Bitcoin products, exchange balances, and order-book depth across BTC and ETH pairs help determine whether equity moves tied to crypto exposure settle or extend.

When depth rebuilds and product creations turn positive together, risk typically steadies; when those series soften while index decisions approach, volatility can rise into the event window.

The current Bitcoin bounce trims immediate pressure, yet policy signals and index rules still define the near-term path. MSCI’s review and Strategy’s contingency language now share a calendar, and together they will determine how crypto-heavy corporate exposure fits within mainstream equity benchmarks.

The post Strategy Floats Possible Bitcoin Sales As MSCI Review Nears Deadline appeared first on Cryptonews.

The market has moved out of extreme fear for the first time in days. The Crypto Fear and Greed Index now sits at 22 after spending most of last week between 10 and 17.

Bitcoin has climbed above $92,000 with a 5% gain over 24 hours, easing the pressure that defined recent trading. Sentiment is still fragile, but the rebound removes some of the strain that built during last week’s selloff.

This shift creates an environment where a few altcoins can advance even though the market has not fully recovered. DoubleZero, Sui, and Chainlink are among the strongest performers today, each rising on increased participation and renewed interest in specific themes.

Their moves sit in contrast to the wider market, where most assets remain cautious, and liquidity concentrates around established names.

Fear and Greed Index (Source: CoinMarketCap)

Sui: New Market Access Drives Activity

SUI is currently trading near $1.71 after rising 21% in the past 24 hours. The move comes after new access opened for New York-based users, which expanded available liquidity and increased inflows from regions that previously could not participate.

Spot data shows activity spread across large venues rather than pushed by a single impulse. The recent supply unlock of more than $80 million in tokens did not suppress demand, and today’s move indicates that the market has absorbed that event more comfortably than expected.

Chainlink: Utility Driven Engagement

Chainlink (LINK) is now trading around $14.5 after gaining 17% on the day. It remains one of the more liquid assets outside the largest layer ones, which often helps it perform when traders return to names with established use cases.

LINK Price (Source: CoinMarketCap)

Data feeds and Oracle integrations continue to anchor its role in various applications. This stability keeps LINK active during sessions where the market is still recovering from the aftereffects of fear.

DoubleZero: Rotation Into Mid Caps

DoubleZero (2Z) is trading near $0.137 with a 25% gain in 24 hours. Market data points to rotation into mid-cap tokens after Bitcoin’s rebound. Depth across active pairs has increased, and volume sits above last week’s averages.

The project continues to benefit from attention around tokens linked to liquidity incentives and early-stage trading models. There is no single catalyst today, but sentiment toward smaller structured products has improved after last week’s panic selling.

Altcoin Season Still Restricted

Even with today’s gains, the current phase does not resemble a full altcoin season. The index remains in fear, rotation is selective, and liquidity concentrates around tokens that already have strong market structures or clear engagement routes.

Last week’s severe reading of 10 shaped expectations, and the move to 22 shows some recovery but not a return to risk-seeking behavior.

For now, the market rewards tokens with distinct use cases, firm liquidity, or new access events. The wider environment remains cautious, shaped by recent liquidations and mixed macro signals.

Altcoin season is still distant, but isolated pockets of strength show that the market is no longer locked in the extreme fear that dominated late November and early December.

The post Bitcoin Rebounds Above $92K as Fear Eases and SUI, LINK, and 2Z Surge appeared first on Cryptonews.

Fear remains the dominant force even though price action looks steadier than yesterday. The Crypto Fear and Greed Index sits near 16 after dropping from 20, yet Bitcoin has climbed back towards $90,000, recovering about 6% from the previous session’s lows.

Bitcoin Price (Source: CoinMarketCap)

The contrast between a lagging sentiment reading and a modest intraday rebound captures the uncertainty that still shapes early December after two difficult months for risk assets.

Most altcoins continue to struggle, and liquidity remains concentrated in Bitcoin and stablecoins. Still, a few tokens show green numbers today. SKY, Pump.fun’s PUMP token, and the Pudgy Penguins linked PENGU coin each move higher, giving a view into where capital still participates when sentiment remains defensive.

Pudgy Penguins Supported By Brand Interest

PENGU is now trading above $0.011, up by around 22% today. Liquidity is thinner than in larger meme names, but price has remained firm as renewed attention around the Pudgy Penguins brand and related licensing efforts continues to circulate in community channels.

The link between a well-known NFT collection and the Solana-based token helps explain why PENGU shows strength when many smaller meme tokens remain under pressure, since traders often gravitate toward recognisable themes during risk-off stretches.

Sky Protocol Buybacks Lift Token

SKY is currently trading near $0.57, up by about 18% in 24 hours, with volume running ahead of recent averages. Market data show the token holding above the support zone formed during last week’s decline, which indicates that buyers have not stepped away immediately after the first bounce.

Sky Protocol disclosed that it bought back 154 million SKY in November using 7.8 million USDS, lifting total buyback spending above 88 million USDS since the program began. These steady purchases help absorb supply during fearful phases and maintain focus on the protocol’s stablecoin and collateral model, providing a clear explanation for today’s move without relying on speculation.

Pump.fun Sees Consistent Solana Activity

Pump.fun’s PUMP token is trading around $0.003, up by roughly 16% in 24 hours. Trading screens show active participation across several venues, supported by steady issuance on the Pump.fun launchpad and strong traffic in Solana’s meme markets.

The constant flow of new pairs and reliable engagement across social channels keeps the token visible even on days where risk appetite is thin. These factors give PUMP a degree of resilience during broader market pullbacks, and today’s move fits that pattern.

Altcoin Season Still Out Of Reach

SKY, PUMP, and PENGU show that isolated gains can occur even in extreme fear, but they do not signal a wide altcoin recovery. Bitcoin’s drop toward $80,000 this week and a sentiment reading near record lows keep trading conditions tight, with most flows concentrated in high liquidity assets rather than mid-caps.

Until fear subsides for more than a single session and rotation improves across a wider set of large altcoins, these moves will remain pockets of strength rather than evidence that altcoin season has returned.

The post Bitcoin Rebound Eases Altcoin Season Tension As SKY, PUMP And PENGU Outperform appeared first on Cryptonews.

Market anxiety is driving price action. Bitcoin is trading around $85,000 after a sharp single-session drop of nearly 6%, extending a decline from the October peak of around $125,000.

The Crypto Fear and Greed Index is currently near 20, following a trough around 10, which still indicates extreme fear. That backdrop links directly to central-bank signs, thinner liquidity, and continued long liquidations.

Bitcoin Under Policy Pressure

The Bank of Japan has been preparing markets for a shift away from ultra-easy settings, with Governor Kazuo Ueda indicating that a policy change meeting is scheduled for December, contingent on wage data. Traders have read that guidance as a potential end to the negative-rate era, which tightened financial conditions into the weekend and helped set off the slide.

On the U.S. side, Federal Reserve officials have leaned cautious on additional easing. Boston Fed President Susan Collins said she would be “hesitant to ease policy further,” describing a “relatively high bar” for further moves without clearer labor-market deterioration.

The remarks of the Federal Reserve and the talk of a policy shift in Japan have pushed yields higher and firmed the dollar; the combination raises funding costs, softens futures basis toward neutral, and reduces tolerance for leverage that had supported rallies during stronger tapes.

Outflows from some spot vehicles on risk-off sessions compound that pressure because they drain cash that would otherwise stabilize closes.

What Would Ease The Strain

Crypto markets shed billions as the global market enters December 2025. More than $637 million in long positions were liquidated during the slide, and the Altcoin Season Index fell to 25, pointing to weak breadth beyond Bitcoin.

Altcoin Season Index (Source: CoinMarketCap)

A credible turn would show up together rather than in fragments. Order-book depth on the largest BTC and ETH pairs would rebuild into and after the United States session, while spreads would stay contained during moderate selling, and funding would stabilize without leaning on short squeezes that exhaust by the close.

Spot product creations would need to improve alongside a rise in net stablecoin issuance, since that pairing signs fresh cash coming in rather than transient covering. When those flows persist for several sessions, rebounds tend to settle more cleanly at the end of the day.

Central bank remarks that push yields higher or firm the dollar can keep bids soft, and relief rallies risk fading when depth thins and exchange-traded flow does not offset de-risking. The tone across majors still follows Bitcoin, and Bitcoin remains one policy headline away from another test of support.

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Accumulated fear drives the market on the first day of December. The Crypto Fear and Greed Index is currently near 20, having climbed from recent lows of around 10, but still remains in extreme territory. Bitcoin is trading below $86,000 after dropping approximately 6% in a single session, extending a decline that began after the October high of nearly $125,000.

Today’s slide links to continued long liquidations, outflows from some spot products, and concerns about the rate path and global economic outlook. The tone resembles a market that is reducing exposure rather than preparing for a shift in risk appetite.

That backdrop keeps the altcoin season out of reach. Rotation remains thin, capital stays close to the largest venues, and only a handful of tokens show strength against a weak leader. Moves in MYX Finance and JUST offer small signs about where activity still concentrates, but the larger picture is shaped almost entirely by Bitcoin’s drawdown and traders’ preference for liquidity over experimentation.

Bitcoin Drives Sentiment In Extreme Fear

Bitcoin is trading around $85,000 to $86,000 after briefly touching lower levels during the session. Derivatives data indicate negative funding and a steady unwinding of leveraged long positions. The retreat is now spread across several weeks, with profit-taking, caution around macroeconomic data releases, and ETF outflows pulling cash away from high-beta trades.

Bitcoin Price (Source: CoinMarketCap)

This is the type of environment where altcoins struggle to find traction. Order books remain deep, yet the dominant flow leans toward selling rallies rather than building new positions. With the fear index still deep in the “extreme” range, traders avoid complex expressions of risk, which limits any chance of a broad altcoin recovery.

MYX Finance Holds A Green Print

MYX Finance is trading near $2.98, up by about 9% in 24 hours after hitting an intraday high above $3.95. Activity remains concentrated around its liquid restaking and perpetual trading routes, which continue to draw attention during quieter periods for other DeFi venues.

The project’s ongoing reward mechanics and steady turnover keep it visible, though the scale of today’s gain is small compared with prior weeks.

JUST Edges Higher On Steady TRON Activity

JUST is now trading near $0.043, with a 4% move in 24 hours. The token’s activity continues to cluster around TRON’s lending and stablecoin rails, where on-chain participation has stayed consistent even through recent volatility.

The move is modest and does not indicate a trend shift, but it shows that some networks with steady usage can continue to print small gains inside a fearful market.

Altcoin Season Still A Long Way Off

The day’s mix of Bitcoin weakness, cautious flows, and a few isolated green names fits a familiar pattern from past fear cycles.

When sentiment drops this low, markets tend to favor liquidity, avoid high leverage, and restrict altcoin activity to tokens tied to ongoing usage or yield structures. The absence of wider participation keeps altcoin season out of reach, and today’s Bitcoin slide reinforces that gap.

For now, the market remains defensive. MYX Finance and JUST show that selective interest still exists, but these isolated moves sit against a backdrop defined by deep fear readings and a lead asset well below recent highs.

The post Bitcoin Slips Again As Altcoin Season Stays Out Of Reach In December appeared first on Cryptonews.

Bitcoin is currently trading near $91,700, roughly 3% higher over the past 24 hours, shifting attention from last week’s stress towards whether the market can rebuild depth and attract steady cash demand.

Sentiment, however, still sits in fear territory even after the bounce, indicating that positioning remains defensive and that confidence in a floor is still tentative. The discussion now centers on durability rather than round-number optics, since $100,000 has served as the more meaningful pivot in recent months, while $90,000 functions mainly as a waystation inside the current range.

Market Signs To Watch

A recovery that sticks usually appears alongside thicker order books on BTC and ETH pairs, narrower spreads through the U.S. session, and funding that drifts toward neutral. Those conditions suggest that market makers are willing to warehouse inventory and that spot buyers are replacing short squeezes that fade late in the day.

When these signs strengthen together, intraday strength more often carries into the close; when they move in different directions, early gains tend to weaken as liquidity thins after hours.

Stablecoin issuance and exchange balances help separate real cash inflows from position covering. Net issuance that turns higher for several sessions frequently aligns with firmer spot settlement, while flat or negative supply can undercut rebounds even when prices look better intraday.

Order-book ladders around key U.S. data windows provide another read, since repeated gaps in depth leave the market vulnerable to cross-asset shocks.

Bitcoin Flows, Liquidity, And Macro Links

Spot Bitcoin and ETF flow direction continues to shape day-to-day closes. A turn toward creations in U.S. spot products generally supports stronger finishes, while persistent redemptions tend to cap rallies during the afternoon handoff.

The pace of those flows has tracked risk appetite in other markets, which is why late moves in equity futures often spill into crypto when depth is still rebuilding.

Macro context remains part of the setup. A firmer dollar or tighter financial conditions can reduce the willingness of traders to hold risk through event windows, while relief on rates can ease those drags and stabilize spreads.

Correlations have tightened during stress, so policy headlines or earnings guidance from large tech firms have continued to influence crypto, especially when liquidity is patchy.

For now, a price north of $90,000 eases the strain without settling the argument about trend. A convincing turn usually arrives when spot books thicken through New York hours and into the evening, when funding and basis settle toward neutral rather than swinging from one side to the other, when ETF creations start to outpace redemptions for more than a day, and when net stablecoin issuance rises in a way that points to new cash rather than recycled leverage.

Absent that mix, strength tends to exhaust itself before the close and the day finishes softer than it began, which keeps confidence brittle and keeps traders alert to policy headlines or earnings surprises that can drain bids in a few ticks. The market looks better than it did last week, yet it still trades like a place where one unwelcome headline can send price back to test the same ledges it just climbed.

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