Crypto market remains under pressure: BTC holds the $76K level, BNB trading volume rebounds against the trend
The cryptocurrency market continues its weak oscillation pattern.
Bitcoin has been trading in a narrow range around $76,720 for the past 8 hours, with a slight dip of 0.2% over the last 24 hours, and a weekly drop of 5.1%. The 24-hour trading volume is $40.1 billion, a significant surge of 36.8% from the previous day, indicating a clear uptick in market activity, although prices haven't followed the volume upwards.
Institutional funds are still flowing out, with a net outflow of $1.07 billion from ETFs, ending a six-week streak of gains. The surge in global bond yields and rising oil prices are major factors putting pressure on risk assets.
BNB has shown relatively stable performance. Current price is $643.76, with a 24-hour trading volume of $1.35 billion, up 14.1% from the previous day, clearly indicating a rebound in market activity. On-chain fees over the past 24 hours are $209.6K, with revenues of $21.1K.
Analysts point out that whether BTC can hold the $77K level will determine its short-term direction, and the $100K target is being tested under the current macro environment. Investors need to closely monitor Fed policy shifts and changes in institutional fund flows.
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