Following a recent upswing, the total cryptocurrency market valuation retreated from $2.39 trillion to $2.34 trillion over the past day, marking a decline of approximately 2.34%. This dip represents a natural pullback rather than a renewed crash, occurring as the market cools off from the significant gains triggered by the latest US inflation data. Bitcoin’s market presence has remained remarkably steady, with its dominance holding firm at 58%, suggesting a period of market consolidation rather than a decisive shift in investor appetite for risk.
Total 24-hour volume increased by approximately 24.8% to $109.1 billion, driven significantly by a 50%+ rise in spot trading compared to a slight decrease in perpetual futures volume. Global derivatives open interest remained stable around $370-$380 billion, with about $72 million in BTC liquidations over the same period. This indicates high two-way flow without an aggressive rebuilding of leverage, reducing the immediate risk of a large liquidation cascade, although volatility could still occur due to macro headlines.
The cryptocurrency market recently saw a modest decline after an inflation-driven increase. Despite a dip in total value, liquidity has risen and leverage does not appear to be increasing, with sentiment remaining neutral though certain meme coins and XRP show strong activity. A key indicator to observe over the next 24 hours is whether the total 24-hour trading volume stays around or above $100 billion while the market cap stabilizes, as persistent high volume without a significant value drop could suggest accumulation rather than a new downtrend.