Bitcoin (BTC) price rangebound in thin volume as traders rotate into metals: Crypto Markets Today
Bitcoin and ether traded flat amid low liquidity as traders rotated into rallying gold and silver, impacting niche crypto tokens.Summary
The crypto market entered a narrow trading range on Tuesday due to low volume and liquidity, with Bitcoin's daily volume dropping 25% to $35 billion and Ether's shrinking 21% to $24.6 billion. This market apathy coincides with a rally in precious metals, as gold hit a record high and silver surged over 57% since the year's start, indicating a risk-off rotation. On derivatives exchange HyperLiquid, silver futures volume neared $1 billion, rivaling major crypto assets. This sentiment is potentially fueled by geopolitical tensions, such as new U.S. tariffs. Despite bearish positioning evident in options markets (puts pricier than calls), niche tokens like HyperLiquid's HYPE, privacy coins, and memecoins outperformed the majors. HYPE surged over 22% as traders sought value in the memecoin sector, with Pump.fun's volume hitting its highest since June.
(Source：CoinDesk)