Crypto market recap: Ethereum rebounds, but weekly losses keep traders defensive

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Crypto market recap

Highlights

Market cap held near $3T as Bitcoin and Ethereum posted modest daily gains despite weak weekly trends.
Fear stayed elevated at 29, with low altcoin season readings showing investors favor defensive positioning.
New ETFs and job growth highlighted long-term adoption even as short-term price action stayed cautious.

Bitcoin traded near $88,400, up 0.77% (24h) but still down 2.82% (7d), showing tentative dip-buying rather than a decisive trend reversal. Ethereum climbed to about $2,940, up 2.50% (24h), though it remained down 6.27% (7d), reflecting ongoing pressure on higher-beta assets. Broader majors followed a similar pattern, with BNB up 1.63% (24h) and Solana up 1.82% (24h), while weekly performance stayed mostly negative. The CMC20 index rose modestly on the day but remained down roughly 4% over seven days, underscoring that the rebound is still fragile. Market sentiment stayed cautious, with Fear & Greed at 29 (Fear) and the Altcoin Season index at 28/100, signaling Bitcoin continues to dominate liquidity flows.

Drivers: miner disruption fades as positioning turns defensive

Part of the day’s stabilization came as concerns around Bitcoin’s network fundamentals eased, after weather-related mining disruptions temporarily pushed hashrate lower. Historically, such hashrate dips tied to external shocks tend to reverse once operations normalize, limiting their long-term price impact. At the same time, traders appeared to reduce leverage rather than aggressively add new risk, keeping intraday moves relatively contained.

The Average Crypto RSI near 47 suggested the market was neither oversold nor strong enough to support a sharp momentum rally. With macro uncertainty still lingering, investors favored selective exposure instead of broad risk-on positioning. This dynamic helped Bitcoin outperform many altcoins on a relative basis, reinforcing its role as the market’s defensive anchor. Until volatility compresses further, price action is likely to remain choppy rather than directional.

News focus: ETFs expand, jobs data improves, institutions circle alt exposure

On the policy and product front, attention turned to expanding institutional access, highlighted by the launch of a new U.S. spot altcoin ETF focused on Avalanche. Such products signal continued experimentation by asset managers seeking regulated ways to offer crypto exposure beyond Bitcoin and Ether. Separately, industry employment data showed crypto-related jobs grew again in 2025, supporting the view that infrastructure and talent investment continues despite price drawdowns.

Together, these developments point to a market where long-term adoption narratives persist even as short-term sentiment remains cautious. For traders, the contrast between improving fundamentals and weak price trends creates a wait-and-see environment. Sustained upside will likely require clearer macro relief or stronger spot demand. Until then, the market appears focused on consolidation rather than acceleration.

Recently we wrote that a survey conducted by the UK Cryptoassets Business Council (UKCBC) among ten UK cryptocurrency exchanges found that 40% of transactions from bank accounts to crypto exchanges are either blocked or delayed by banks.

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