Crypto Market Stalls Under Overhead Supply After Rebound

The recent market volatility in cryptocurrencies has been characterized by sharp technical corrections and swift recoveries. The current rebound in Bitcoin and Ethereum prices is being viewed as a signal that the broader risk trade remains intact.

On the daily charts, Bitcoin futures are currently hovering around $68,185, pulling back 1.91% on the day. Ethereum's price surge has activated a major bull flag, but the real test for buyers begins now.

The market is rotating into balance, with low delta during sideways price action often indicating a 'wait state.' The next break can be sharp because liquidity builds up while participation looks quiet.