Crypto market close to a top, with the possibility of a slight decline

Expert market comment made by Chief Market Analyst Alex Kuptsikevich of the FxPro Analyst Team: Crypto market close to a top, with the possibility of a slight decline
FxPro | 33 days ago

Crypto market close to a top, with the possibility of a slight decline

Market Picture

Over the past seven days, the cryptocurrency market has ranged between $3.26 trillion and $3.30 trillion, reaching $3.33 trillion as of writing after recovering from the lower end of the range. Among the leading cryptocurrencies over the past day are EOS (+11.7%) and Aave (+8.5%). Among the outsiders are XPR and Monero, which showed a decline of 1%.

Bitcoin rose 2% over the last day, holding the 104k as a key level. The positive factor is that sellers have not yet managed to seize control of the market. However, resilience at high levels may be temporary before the next bounce, and there is considerable pressure near the upper boundary of the current range. In other words, the short-term outlook suggests a decline from current levels.

News Background

According to Deribit data, BTC options are balanced, while put options on Ethereum have a slight bias.

According to TradingView, bitcoin miners have almost stopped selling their holdings of the first cryptocurrency in recent weeks, preferring to accumulate coins on their balance sheet. This shift from selling to hoarding could be an important factor for the cryptocurrency market.

According to Dune, a week after the major Pectra upgrade was implemented, the number of smart account authorisations for EIP-7702 exceeded 11,000. This indicates high interest in the new features from exchanges, wallets, and decentralised apps.

By the FxPro Analyst Team

Regulation: FCA (UK), SCB (The Bahamas)
read more
The Yen Halts Its Decline, but Domestic Signals Remain Negative

The Yen Halts Its Decline, but Domestic Signals Remain Negative

The USD/JPY pair stabilised at 145.11 following three consecutive days of gains. The Japanese yen had previously faced downward pressure due to a combination of factors, including weak macroeconomic data. Japan’s exports declined for the first time in eight months, indicating that the impact of US tariffs is now being felt.
RoboForex | 16h 54min ago
ATFX Market Outlook 18th June 2025

ATFX Market Outlook 18th June 2025

Soft U.S. retail sales and industrial production in May point to a weakening economy. U.S. stocks closed lower on Tuesday as the Israel-Iran conflict entered its fifth day, deepening investor anxiety. The U.S. military is deploying fighter jets to the Middle East. The Dow Jones fell 0.7%, the S&P 500 dropped 0.84%, and the Nasdaq declined 0.9%.
ATFX | 21h 50min ago