Crypto Market Trends Show Steady but Selective Gains

The cryptocurrency market has been experiencing steady but selective gains in recent days. Ethereum has taken the lead among major non-stablecoin assets, while Bitcoin continues to hold strong above $77,000. This trend suggests that investors are still prioritizing familiarity and depth over smaller names.

According to recent data, the total cryptocurrency market capitalization stands at around $2.65 trillion, with a 0.4% increase over the past 24 hours. The 24-hour trading volume has reached near $83.7 billion, while Bitcoin's dominance is approximately 58.0%, and Ethereum's dominance is about 10.6%. This indicates that larger-cap assets are still driving market movement.

The top five altcoins have also seen varying degrees of growth, with Ethereum (ETH) experiencing a 2.1% increase to around $2,324. Other notable movers include Solana (SOL), which has risen by 1.1%, and Binance Coin (BNB), up by 0.4%. However, the wider market remains patchy, with some assets exhibiting more volatility than others.

The flow backdrop has softened, with U.S. spot bitcoin ETFs recording net outflows of $89.7 million on April 28, and U.S. spot ether ETFs posting a net outflow of $21.8 million on the same day. This indicates that institutional investors are not yet fully committing to a risk-on message. Additionally, the macro tone remains uneasy due to ongoing war-related tensions in the Middle East and anticipation of the Federal Reserve's decision.