Last week, Bitcoin ETFs saw a fresh wave of inflows, totaling more than $265 million across two days. This sudden boost sparked optimism among traders, but the broader crypto scene still shows signs of fragility. Despite these encouraging numbers, the total market valuation slipped back below $1.89 trillion, a key short-term resistance point.
The big question now is whether the crypto market can hold above this level and push towards $1.94-$1.96 trillion, an area that has blocked rallies multiple times in July. Overcoming this zone would signal a potential trend shift, yet for now, support near $1.84 trillion remains vital. Falling below this could drag prices down to June’s lows around $1.74 trillion.
Meanwhile, altcoins are lagging behind. The combined market cap of all cryptocurrencies except Bitcoin, Ether, and stablecoins hovered near $374 billion, still trapped under a downward trendline sitting around $390 billion. Breaking past this barrier could open the door to $400 billion and beyond, indicating more widespread buying interest beyond the largest tokens. However, a drop below $370 billion would hint at renewed weakness and a slide back towards $360 billion.
Institutional appetite remains mixed. While Bitcoin ETFs attracted sizeable inflows recently, they were preceded by a string of outflows totaling over $260 million in the previous sessions. Ethereum ETFs performed even weaker, highlighting that sustained demand from big investors has yet to fully materialize.
These dynamics paint a picture where Bitcoin and Ether lead the bounce, but a full market recovery needs broader support from altcoins and consistent institutional demand. Without those elements aligning, the crypto rebound risks another stumble.
This content is for informational purposes and should not be considered financial advice.
