Cryptocurrency analysis firm MarktQuant has released a comprehensive assessment of the current market conditions, highlighting Bitcoin’s bullish momentum and Ethereum’s struggling performance.
According to the report, Bitcoin’s price has been steadily consolidating above the $62,000 level, with increasing open interest indicating growing market participation. Positive cumulative volume delta (CVD) in the spot market further suggests strong buying interest. However, negative CVD in futures markets highlights potential risks and the need for continued monitoring.
Ethereum, on the other hand, continues to underperform. Despite a slight improvement in its valuation, the asset remains in cash, indicating a lack of momentum. Ethereum is approaching oversold levels, but a bullish reversal seems unlikely without stronger recovery signs.
Solana, however, is showing early signs of recovery, with its valuation improving. While still in cash, Solana’s potential for a trend shift is increasing.
Overall, the market appears to be in a bullish trend, with Bitcoin leading the way.
