📉 Market Overview

The global crypto market cap is around US $3.27 trillion, down by about 6 % over the past 24 hours.

Bitcoin (BTC) recently dropped to its lowest level in six months, trading below US $97,000.

Ethereum (ETH) and many major altcoins are down sharply — ETH saw declines of around 8 % and many altcoins followed suit.

🔍 Key Drivers

A risk-off sentiment dominates markets: weaker economic data (especially from China) and uncertainty about central bank policy (less likelihood of a rate cut) are weighing on investor appetite for risk assets.

Many leveraged crypto positions were liquidated — more than US $1 billion in traded crypto contracts were wiped out in a short span.

Historically, crypto has been correlated with equities and risk assets — when equities drop, crypto tends to drop too, limiting its role as a “safe haven”.

✅ What to watch

Watch for signs of support for Bitcoin near US $94,000–US $95,000 and whether altcoins can stabilise.

Keep an eye on macro data (inflation, central bank statements) — they could change the risk environment and impact crypto.

Monitor institutional flows and ETF redemptions/inflows — these have large effects in the crypto space now.