market update

Many altcoins, also established meme coins (liq pull event), are getting heavily sold off. Also a major DeFi exploit involving a cross chain setup triggered bad debt on lending protocols like Aave, which is why DeFi and bridge related tokens (ZRO) are getting heavily sold off.
That said, it’s important to keep in mind that it’s the weekend, so liquidity is thinner, and the real price action often unfolds into the weekly close and early monday.
Notably, AI related coins (e.g., TAO, NEAR, FET, etc.) are showing relative strength.
On top of that, it’s important to note that the total crypto mcap, including Bitcoin, just got rejected at the resistance of its rising channel. Even though this happened over the weekend, it’s still structurally relevant and opens the door for a move back toward channel support, potentially in the $68k to $70k range. As a result, setups here are quite uncertain and not strongly supported by the current structure.