SKN | Ether and majors rise as bitcoin rebounds toward $76,000, but the bounce may not last

Key Points

• Crypto markets stabilized after early-week volatility, with total market capitalization rising about 1.7% to roughly $2.65 trillion.

• Bitcoin rebounded around 5% from Monday’s lows, trading in the $76,000–$78,000 range, but stalled near key resistance levels.

• Ether and major altcoins posted uneven, modest gains, remaining well below their earlier-year highs.

A fragile rebound after a brutal week

Crypto prices stabilized on Wednesday following sharp early-week swings, offering a tentative rebound rather than a clear trend reversal. Total market capitalization rose about 1.7% over the past 24 hours to roughly $2.65 trillion, according to CoinMarketCap data, after heavy liquidations and thin liquidity drove prices sharply lower at the start of the week.

Bitcoin climbed roughly 5% from Monday’s lows, rebounding into the $76,000–$78,000 range during Asian and early European trading hours. The move marked a recovery from panic-driven selling, but price action stalled near resistance levels that have capped upside since early February.

Ethereum and other large-cap tokens followed with uneven gains, suggesting stabilization rather than renewed momentum.

Altcoins lag as sentiment stays defensive

While the rebound helped calm markets, most altcoins posted only modest recoveries and remain well below their highs from earlier this year. BNB led gains among majors, helped by renewed public support from Binance founder Changpeng Zhao, while dogecoin advanced after fresh commentary from Elon Musk.

Elsewhere, price action was choppy and selective. The lack of broad participation reinforced a cautious tone among short-term traders, many of whom remain focused on capital preservation rather than chasing rebounds.

Macro backdrop offers limited relief

The stabilization in crypto mirrored mixed signals across global markets. Asian equities pared earlier losses after a weak session for U.S. technology stocks, with investors rotating toward financials and industrials amid concerns that rapid advances in artificial intelligence could pressure traditional software business models.

Commodities added another layer of complexity. Oil prices moved higher following heightened geopolitical tensions in the Middle East, while gold rebounded above $5,000 an ounce on dip buying. The Japanese yen weakened as traders positioned ahead of this weekend’s national election, adding to broader currency volatility.

Flows and onchain data signal caution

Despite the price bounce, capital flows continue to reflect defensive positioning. CoinShares reported $1.7 billion in outflows from global crypto investment products last week, marking the second consecutive week of heavy redemptions. Bitcoin-linked products accounted for the bulk of withdrawals, followed by ether and other major assets.

Onchain indicators tell a similar story. Data from CryptoQuant shows long-term bitcoin holders have slipped into unrealized losses, a condition historically associated with deeply bearish phases that can precede local bottoms, but also signal prolonged consolidation rather than immediate recovery.

Options markets suggest traders are beginning to position for stabilization, but without strong conviction. Hedging activity remains elevated, indicating that many participants are still bracing for renewed volatility.

Institutional exposure under pressure

Corporate and institutional crypto exposure remains in focus as price weakness amplifies balance-sheet swings. Ether’s decline has pushed unrealized losses at large holders sharply higher, with BitMine’s paper losses nearing $7 billion. Some institutions have begun trimming risk, while others, including Strategy, continue to add bitcoin on weakness.

Bounce without confirmation

For now, crypto’s rebound looks more like a pause than a turning point. Liquidity remains thin, flows are still negative, and risk appetite fragile. Unless broader macro conditions improve and capital returns decisively to the space, traders say the current bounce may struggle to evolve into a durable recovery.