The crypto space saw a blend of subtle calm and sudden spikes today. Bitcoin (BTC) held its ground at around $105,420.95 today, while Ethereum traded just below $2,500, at around $2,485. Although the bulls are trying very hard to maintain the bullish trend, market sentiment continues to remain bearish due to the sluggish behavior of the bulls. As a result, the bears have held a significant dominance, which could keep the price restricted throughout the day.
Top 10 Cryptos Display Sluggish Trend
After a huge, volatile week, the Bitcoin price surged above $105,000 and sustained above the range, which has elevated the token above the bearish influence, marginally. Meanwhile, the recovery that triggered before the weekly close failed to push the Ethereum price above $2500, and hence, the price has remained below the pivotal resistance. With the top two tokens displaying a sluggish trend, the remaining tokens in the top ten follow suit.
The 4th largest crypto, XRP, is displaying some strength after reaching the neckline of the bullish structure while remaining under bearish influence in the wider aspect. Meanwhile, Solana is juggling around $150 and struggling to hold the bullish momentum as the other cryptos like Dogecoin, Tron & Cardano have begun to print bearish candles with the prices ranging around $0.18, $0.28 & $0.65 respectively.
Top Gainers & Losers for the Day
The top gainers attract fresh tokens like AB (AB) and Kaia (KAIA) that have surged by over 16.5% and 12.2%, respectively. Meanwhile, Internet Computer surges over 6.41%, SPX6900 by 6%, XDC Network, Raydium & Quant by over 3% each, followed by dogwifhat, Fartcoin & Bitcoin Cash by close to 2% each.
On the other hand, DeXe faces an acute pullback of over $14.58%, followed by Vaulta, Optimism, The Graph, Celestia, Artificial SuperIntelligence Alliance and Pendle price drops by over 3% each, followed by Worldcoin, Kaspa & Ethereum Name Service by 2% each.
However, the market sentiments around Kaspa, Pi, XRP, Cardano, Ethereum, PEPE & a few more remain largely bullish. This suggests the demand for these tokens could increase in the coming days, leading to a significant upswing in the prices of these tokens.
Wrapping it Up!
The crypto markets are expected to remain consolidated throughout the day as the bulls and the bears could be passive. With a drop in volatility, the prices of the top tokens may maintain a range-bound consolidation, preventing huge price actions. However, in case the volume fluctuates, the prices of Bitcoin & Ethereum could deviate depending on the mounted bullish or bearish pressures. Until then, the crypto markets may maintain a sluggish trend.
