Crypto Market Stabilizes After Volatile Quarter

The cryptocurrency market has been experiencing a volatile quarter, with prices fluctuating wildly. However, recent data suggests that the market may be stabilizing after a strong squeeze in the derivatives market.

Total liquidations across the crypto market reached about $547 million over the past 24 hours, with roughly $446 million of that coming from short positions. This has led to a pause in the market's upward momentum, but it is still unclear whether this is a sign of a fresh breakdown or just a natural correction.

Despite the recent decline, Bitcoin and Ethereum remain higher on a weekly basis, with BTC up 3.4% and ETH up 3.3%. The Fear and Greed Index has also risen to 23, which while still in extreme fear territory, suggests that market stress is gradually easing.

The recovery in the ETH/BTC ratio and Bitcoin's ability to hold above key support levels may indicate the beginning of a broader market recovery. However, it remains to be seen whether this momentum can be sustained or if external pressures will push prices lower again.