Bitcoin Surpasses $76,000, But the Continuity of the Rise is Doubtful.

Stagnation in the Cryptocurrency Market

Cryptocurrency prices are showing a stable outlook following sharp fluctuations at the beginning of the week. The total market capitalization has risen by approximately 1.7% to $2.65 trillion. However, it is observed that sentiment among short-term investors remains cautious.

Bitcoin and Altcoin Market

Bitcoin has gained about 5% since the lows on Monday, rising above the $78,000 level. However, most altcoins have only experienced modest and inconsistent recoveries, remaining well below their highs earlier in the year.

Investor Analyses

Market flows and on-chain data indicate a defensive posture. Cryptocurrency investment products have recorded weekly outflows amounting to $1.7 billion over the past two weeks. Long-term Bitcoin holders continue to experience unrealized losses, despite some institutions adding to their positions.