Market update: Bitcoin pauses for a breath, Ethereum, Solana and others to follow
After an explosive rally, the pace cools: Bitcoin holds around $92,500, down 1.3% on the day.
After an explosive rally, the momentum has cooled a bit: Bitcoin is consolidating around $92,500, posting a 1.3% drop on the day. The total market cap of the largest crypto sits at about $1.84 trillion. Ethereum is also moving in Bitcoin's wake and is showing a small decline. Right now, the second-largest by market cap is at $1,770.
The biggest laggard among the top ten is Dogecoin, down almost 5% to finish last. But on a weekly basis there’s a rebound: DOGE up 10% to $0.17.
In the broader crypto market, Bitcoin season remains for now. That means BTC is currently outperforming most altcoins. Only fifteen altcoins have posted higher returns than Bitcoin over the past 90 days. Among the outperformers are Tron, BNB, and PAX Gold (PAXG).
PAXG is benefiting from gold's ongoing price rally. Since the start of the year, the gold price has been rising almost uninterrupted. At the time of writing, a troy ounce of gold is at a fresh record of $3,337. That gives PAXG a 24% price gain over 90 days.
Investors are watching today with interest the release of US durable goods orders data. This economic data could potentially steer both traditional financial markets and the crypto sector.
Finally: NAVI (NAVX) holders should brace for a scheduled token unlock today. According to Messari data, the circulating supply will only expand by 0.83%. Historically, NAVX price dipped briefly after prior unlocks, then rebounded strongly.
