Cryptocurrency Market Shows Signs of Relief with Moderate Bounce

The cryptocurrency market has shown signs of relief after a moderate bounce on Wednesday. Total crypto market cap climbed about 6% to roughly $2.42 trillion.

Bitcoin (BTC) rose from around $62,900 late Tuesday to about $68,200 at publishing time, posting a 6.2% daily gain and pushing its weekly change just slightly into the green.

Ethereum (ETH) outperformed BTC, jumping over 10% to trade back over $2,060, and up a solid 4.6% on the week. Across the rest of the top-10 crypto assets — all trading higher — Solana (SOL) posted the biggest daily gain, up over 12%.

Despite the rebound, some on-chain indicators suggest stress hasn't fully cleared. Analysts at glassnode said in an X post that Bitcoin's Realized Profit/Loss Ratio (90-day SMA) has fallen below 1, signaling a shift into an excess loss-realization regime.