The broader global cryptocurrency market capitalization edged up to $2.62 trillion, reflecting modest 24-hour rebounds across major altcoins despite investor sentiment lingering in "fear" territory with an index reading of 34. Institutional caution remains pronounced, evidenced by consecutive sessions of heavy capital flight from U.S. spot Bitcoin exchange-traded funds, which lost $399 million on Monday after shedding $643 million on Friday. Meanwhile, market participants are monitoring technical thresholds, noting that a break below $76,000 could spark deeper sell-offs, whereas holding above $79,000 might anchor a broader stabilization.
Key points
The November 3 U.S. midterm elections are poised to influence Congressional leadership an…: The November 3 U.S. midterm elections are poised to influence Congressional leadership and could determine the fate of the stalled CLARITY Act.
Bitcoin faces critical technical boundaries where moving above $79,000 indicates recovery…: Bitcoin faces critical technical boundaries where moving above $79,000 indicates recovery, but dropping under $76,000 threatens to provoke extended losses.
Crypto market momentum remains tethered to broader macroeconomic signals, such as impendi…: Crypto market momentum remains tethered to broader macroeconomic signals, such as impending U.S. labor reports, energy prices, and central bank interest rate policies.
Sources checked by our analysis pipeline: 1
In the past 24 hours, Bitcoin and Ethereum were up 1.87% and 2.41%, respectively. Among the major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin, and Cardano gained up to 2.66%, whereas Tron was down 0.13%.
Riya Sehgal, Research Analyst, Delta Exchange said early results from the November 3 US midterm elections have increased focus on Congressional control and future crypto regulation, and the outcome could influence renewed efforts to advance the CLARITY Act, which failed to clear a Senate procedural vote in September.
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Markets are also monitoring Friday’s US employment report, Federal Reserve rate expectations, oil prices and technology stocks for direction. Looking ahead, volatility could persist as markets assess election results and macroeconomic developments, Sehgal further said.
The global crypto market capitalisation went up 1.81% to $2.62 trillion, according to the CoinMarketCap data.
Avinash Shekhar, Co-Founder & CEO, Pi42 said Bitcoin is trading around the 76,000-77,000 range as the broader cryptocurrency market continues to face selling pressure amid cautious investor sentiment and uncertainty around…
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