TLDR - Daily Market Report #639
- Market: Total crypto market cap at $2.5T, down roughly $2T since Oct 10. Clear bear-market conditions.
- $BTC : Around $70K, dominance near 55%. Network difficulty dropped 11% as miners shut down during winter stress. Selling pressure easing after capitulation.
- $ETH : Trading near $2.1K after dipping to $1.7K. High volatility, sentiment still fragile.
- $BNB : Around $643. Ongoing Binance FUD, mostly driven by compliance and flagged wallets rather than insolvency.
- $XRP: Around $1.40. Still viewed as a core large-cap despite weak momentum.
- $SOL: Around $87 after touching $70. Talk of lower levels persists, but a short-term bounce is in play.
- Memecoins: $DOGE near $0.10. Cultural memes continue to hold better than short-lived launch tokens.
- $HYPE: Around $31. Strong relative performance driven by perp DEX volume, buybacks, and expansion.
- $LINK: Around $9. Heavy institutional integration, yet still underpriced by the market.
- Privacy: $XMR around $328, $ZEC around $245. Privacy narrative faded, historically cyclical.
- L1s/L2s: $SUI $DOT $ARB remain under pressure as adoption lags price.
Sentiment: Capitulation phase. DCA zones forming for majors. Patience required.
