๐ Crypto Market Update | Tuesday
Bitcoin is pushing toward $77,000 as risk sentiment improves, but the market is still feeling the pain from the $290M KelpDAO exploit over the weekend. ๐จ
Here's what's happening:
๐ข Bitcoin (BTC) โ climbed to $76,500 with a brief spike to $77,000. Key resistance at $78,300 โ a break above that could unlock serious upside.
๐ด Altcoins โ still struggling. ETH only managed +0.3%. ENA, ETHFI & JUP all in the red. DeFi sentiment remains fragile after the exploit.
โก AAVE โ lost 22% over the weekend but clawing back +2.6% today. Record open interest but sell orders are dominating.
๐ฅ Short Squeeze Alert โ BTC & ETH funding rates are negative, meaning heavy short positioning. If price holds, a short squeeze could send prices flying fast. ๐
๐ Macro Watch โ Middle East tensions easing could push oil prices lower and give crypto a further boost. Peace talks with Iran in focus.
Bottom Line:
Bitcoin is holding strong. Altcoins need time to recover. The next big move depends on whether BTC can break $78,300 and whether DeFi rebuilds confidence. ๐