🧭 EXECUTIVE SUMMARY The crypto market opens the day with solid recovery, but still without signs of euphoria. The global market cap returned to the range of $2.52 trillion – $2.53 trillion, Bitcoin continues to concentrate flow and sentiment remains in extreme fear. On the institutional side, the latest available closing recorded outflows from both BTC and ETH ETFs, which still hinders a more aggressive reading for altcoins.

🌍 MARKET OVERVIEW💰 Market Cap: $2.52 trillion – $2.53 trillion📊 24h Volume: $123 billion🟠 BTC Dom: 56.7% – 56.8%🔵 ETH Dom: 10.8%🏦 Stablecoins: $312 billion (12.36% of market cap) 😨 Fear & Greed: Extreme Fear

🌊 FLOW READINGThe main dynamics remain concentrated in Bitcoin, with no clear signs of a broad altseason. High BTC dominance, significant participation of stablecoins, and still depressed sentiment show a technical price improvement, but not a complete return to risk appetite.

⚠️ DERIVATIVES AND RISKCoinGlass maintains Bitcoin as the main pole of open interest, which leaves the environment sensitive to squeezes and rapid movements — especially on a day with a relevant macro trigger.

🏛️ ETFs | SoSoValue (latest available close)🟠 BTC: -US$ 159 million in net outflow 🔵 ETH: -US$ 64.67 million in net outflow

🗓️ MACRO OF THE DAY | USA⏰ 14:00 ET (15:00 BRT): Release of the FOMC Meeting Minutes. Investors will seek clues about the committee's view on inflation, geopolitical impacts, and interest rate trajectory. This is the main catalyst of the day.

👀 WATCHLIST

₿ Bitcoin💲 Reference price: US$ 71,500 – 71,700🎯 Key range: US$ 71,000 – US$ 72,000Reading: Main thermometer of flow, dominance, and risk appetite.

🔷 Ethereum💲 Reference price: US$ 2,246 – 2,256🎯 Key range: US$ 2,200 – US$ 2,300Reading: Follows the recovery, but still with weaker institutional support than BTC.

🚀 Day highsHighlights among the majors: ETH (+7.6%), ADA (+6.6% to +7.0%), SOL (+7.1%), XRP (+5.7%) and DOGE (+4.4%). ETH, SOL, and ADA stand out for the combination of price strength and relevance.

📉 DropsNo significant general drops today. The market is operating in broad recovery in the main assets — the focus should be on relative strength.

🔥 NarrativesRecovery driven by geopolitical relief (drop in oil after the announcement of safe passage for 2 weeks in the Strait of Hormuz) and technical movement in the majors. The day seems more guided by macro and global sentiment than by specific altcoin narratives.

🧠 DIAPERSPETIVEBase scenario: selective recovery with caution. The price has improved, but sentiment remains in extreme fear and ETFs closed negative in the last data. The main intraday focus is on the Fed's minutes — any hawkish or dovish tone could significantly impact the dollar, interest rates, and risk appetite.

Keep an eye on Bitcoin's reaction: it continues to be the main driver of the market.

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