The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging.
To date, the total crypto market is down 43% in just two months, so investors are unlikely to celebrate even if the descending triangle formation breaks to the upside.
Total crypto market cap, USD billion. Source: TradingView
Crypto Fear & Greed Index. Source: alternative.me
Weekly winners and losers among the top 80 coins. Source: Nomics
Tether (USDT) peer-to-peer vs. USD/CNY. Source: OKX
Accumulated perpetual futures funding rate on June 3. Source: Coinglass