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In recent days, the crypto market has been quite volatile. I’ve noticed that geopolitical tensions are once again affecting the market, especially regarding the Strait of Hormuz. When news came out that it had reopened again, Bitcoin briefly surged to above $78,000, but as tensions escalated, it fell back down. This pattern shows that the crypto market is still driven by news.
At present, Bitcoin is trading at around $77.55K, up 1.30% over the past 24 hours. Its market share is around 57%, which is quite strong. Ethereum is also at $2.33K, showing a 2.12% increase. Bitcoin dominance is still high, meaning altcoins can’t quite make moves on their own.
At the token level, some interesting things are happening. BLUR is down, seeing a 7.40% decline over 24 hours. But the meme sector is seeing solid activity. BOME is up 6.21%, NEIRO has risen by 6.07%, and PNUT is also showing a 2.17% gain. ASTEROID is especially interesting, up 7%, because Elon Musk has approved it as SpaceX’s mascot.
There have also been some important developments on the crypto policy front. The SEC has approved a new proposal from the NYSE that allows trading tokenized securities with on-chain settlement. This could be a big deal for the crypto space.
Some problems have also emerged. Due to the KelpDAO exploit, there was a bad-debt issue on Aave, leading to withdrawals of more than $6.6 billion. The RAVE token saw a 96% drop over 24 hours, indicating suspicious price manipulation.
In the next segment, there are several important events. Tennessee’s Bitcoin reserve hearing, Hong Kong’s Web3 Carnival, and multiple token unlocks are on the agenda. Both ZRO and KAITO are set to unlock. At the same time, the deadline for the U.S.-Iran ceasefire is also approaching, which could be a major turning point for the market.
Overall, the crypto market is still full of uncertainty, but there are also some positive signals. Both policy support and activity in the meme sector are worth noting. If you want to track these developments, you can find information on all these tokens on Gate.