Crypto Prices Up, But Tension Remains High

While the market digests a wave of massive liquidations, bitcoin and Ethereum register an unexpected rebound. In a still tense climate, this recovery intrigues as much as it divides. The contrast between extreme volatility and price increase reignites debates about the market’s real solidity. After a week marked by instability, signals are blurred and positions are opposed.

A recovery in the midst of turmoil

The crypto market experienced a technical rebound even as it faced a wave of massive liquidations, while the ecosystem fails to compete against the dynamics of AI and robotics.

Thus, liquidated positions over the past 24 hours reached nearly 729 million dollars, including 453 million on longs and 276 million on shorts. This dynamic reflects significant pressure on the most exposed traders. These liquidations fueled strong volatility, illustrating the market’s fragility despite the apparent recovery.

In this context, several key figures help measure the extent of the movement :

• Bitcoin (BTC) stabilized around 78,300 dollars, up 2.1 % on the session ;
• Ethereum (ETH) appreciated 1.5 %, reaching about 2,338 dollars ;
• The total crypto market capitalization now stands at about 2.72 trillion dollars ;
• Ethereum accounted for 266 million dollars in liquidations, compared to 233 million for bitcoin ;
• Other major assets such as Solana (SOL), BNB, and XRP also advanced.

This rebound was partly supported by encouraging macroeconomic signals. The U.S. manufacturing PMI index, published earlier in the day, came out above expectations, suggesting an expansion of the industrial sector. This factor temporarily restored confidence among market operators, without erasing the structural tensions that still weigh on the entire crypto sector.

Fragile signals

Despite this temporary improvement, several indicators suggest that the market remains suspended between opposing forces.

Indeed, spot ETFs backed by bitcoin and Ethereum experienced significant net outflows, calling into question the robustness of institutional demand. This trend indicates that, despite rising prices, inflows into regulated products do not keep pace, highlighting a form of structural skepticism among long-term investors.

This partial withdrawal of institutional capital contrasts with the bullish short-term dynamics, revealing a dichotomy between the behavior of active traders and cautious investors.

The persistence of high volatility, fueled by recent movements on derivative markets and a fear index that remains at extreme levels, also feeds the idea that the market remains vulnerable to sudden reversals. An unbalanced distribution of liquidations is observed, illustrating a still unstable positioning of market participants, both on the buy and sell sides.