Bitcoin’s recent stability hasn't been enough to spark a broader altcoin rally
Bitcoin and Ether remain above their 50-day moving averages, but the broader cryptocurrency market is struggling to gain momentum. Analysts are closely watching upcoming Federal Reserve interest-rate decisions and the delay of the CLARITY Act as key factors influencing future market volatility.
Why it matters
The lack of market breadth in crypto suggests institutional caution, making the sector highly sensitive to macroeconomic policy shifts and legislative developments.
While bitcoin BTC $ 63,329.86 and ether (ETH) are under pressure, their prices remain above their respective 50-day averages, a bullish sign. The broader market isn’t so lucky.
The 50-day simple moving average (SMA) is widely tracked as a near-term trend gauge. Price breaks above that level are taken as a sign that bullish momentum is building. Right now, only 29 of the top 100 coins, including the two largest, are trading above their respective 50-day averages. So the breadth remains decisively bearish.
It looks even worse when compared with the Nasdaq 100 breadth. As of Monday, 47 stocks from the index traded above their 50-day SMAs.
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