Market Overview
Bitcoin and Ethereum both remain under pressure after last week’s flush-out, but the worst of the forced-selling appears to be fading. 1) Sentiment has hit capitulation levels – the Fear & Greed Index sits at 10 (Extreme Fear) – historically a contrarian, late-cycle reading. 2) ETF flow data in the news-feed shows two consecutive sessions of net BTC inflows and a sizeable $63 m rotation into ETH-linked ETPs, indicating fresh institutional dip-buying. 3) On-chain and media chatter point to renewed whale accumulation (Coinbase premium narrowing, addresses adding >95 k ETH, Binance topping up its SAFU fund with BTC). 4) Technically, both BTC and ETH are sitting on major daily support zones: BTC at $68 k-$69 k (March breakout retest, hourly demand block) and ETH at the psychological $2 k handle (June & December pivot). The latest 24-hour OHLCV data show decreasing sell volumes and long lower-wicks, signalling absorption of supply. 5) Macro cross-asset tone is mildly USD-negative (soft DXY on China reserve-shift headlines, lower USD/JPY), which typically offers a tail-wind for crypto. Near-term risks: a break below $68 k (BTC) or $1 980 (ETH) would invite another waterfall as liquidity remains thin (24 h volume down ~15 %). However, with derivatives positioning largely cleaned out (funding back to neutral) and no major U.S. data until retail sales in the next session, the path of least resistance for the next few hours is a low-volatility grind higher / sideways consolidation.