The crypto market today is showing cautious movement as investors wait for major economic signals, especially U.S. inflation data. Bitcoin is trading in the mid-$60,000 range and struggling to break the $70,000 resistance level due to weak buying pressure and uncertain market sentiment. Analysts say demand is currently shallow, which is limiting strong upward momentum and keeping traders defensive.
Ethereum and major altcoins like XRP, ADA, and BNB are moving sideways with mixed trends. Some coins are holding support levels, but there is no strong bullish breakout yet. The overall crypto market cap has slightly declined in the last 24 hours, reflecting cautious investor behavior.
A major event influencing today’s market is the expiry of around $3 billion in Bitcoin and Ethereum options contracts. This could trigger volatility and sudden price swings depending on how traders react.
On the regulatory side, authorities continue to crack down on crypto fraud. A major Bitcoin Ponzi scheme case recently resulted in a long prison sentence, highlighting increased global scrutiny on crypto-related crimes.
Overall, the market outlook remains uncertain short term, with traders watching macroeconomic data, institutional demand, and technical support levels for the next major move.$BTC $ETH