The cryptocurrency market is experiencing a period of selective strength and consolidation. Bitcoin (BTC) is holding near the $67,000 level, following a failed attempt to extend a rebound from a dip below $66,000. This comes after a broader slide that began with a rejection near $90,000 on January 28, leading to a low around $60,000 last Friday. While a sharp snapback briefly lifted BTC toward $72,000, follow-through has been limited, with the asset down about 5% on the week. Bitcoin's market capitalization is approximately $1.340 trillion, and its dominance has slipped to 56.6%, indicating capital is probing selective alternatives rather than fueling a broad, Bitcoin-led rally.
Ethereum (ETH) remains well below the key $2,000 psychological level, trading around $1,970.88. Among other major assets, XRP is holding under $1.40, while Binance Coin (BNB) has shown resilience, holding above $600 and posting a 2.7% gain to $615.20. Solana (SOL) faced a minor 0.1% dip to $80.41.
The market's character is defined by fragmentation and selective risk-taking. Altcoin strength is present but narrow and highly tactical. HYPE and HBAR led gainers among larger altcoins, each rising about 5%. Conversely, MYX experienced a sharp breakdown, plunging nearly 40% on the day. Smaller-cap tokens saw the most dramatic swings, with PIPPIN soaring roughly 190% over the past week.
Overall, total crypto market capitalization stayed below $2.4 trillion, up only about $20 billion from the prior day. The current dynamic suggests traders are buying specific pockets of the market rather than committing fresh capital to a broad-based move, indicating caution and tight risk budgets prevail.