Crypto markets kicked off the week the way many Monday mornings feel: still half-asleep and not quite ready to commit to a direction. Bitcoin (BTC) is holding around $91,000, while the rest of the major tokens drift lower in what's shaping up to be a quiet start to trading.
Here's where the major cryptocurrencies stand: Bitcoin at $91,570.92, Ethereum (ETH) at $3,104.15, Solana (SOL) at $141.21, XRP at $2.06, Dogecoin (DOGE) at $0.1380, and Shiba Inu (SHIB) at $0.000008478.
The sentiment is broadly neutral, but beneath the surface there's been some pain. According to Coinglass data, 105,562 traders were liquidated in the past 24 hours for $283.05 million. That's a lot of forced exits in what looks like sideways action.
The Outflow Story Continues
Institutional money keeps heading for the exits. SoSoValue data shows spot Bitcoin ETFs saw net outflows of $250 million on Friday, while spot Ethereum ETFs lost $93.8 million. Not exactly the bullish signal you'd want to see heading into a new week.
On the brighter side, top gainers over the past 24 hours include Story, Monero, and MYX Finance, though they're swimming against the broader tide.
What Traders Are Watching
According to trader KillaXBT, Bitcoin's recent climb isn't quite what it seems. The upside is largely technical rather than fundamental. Shorts that got aggressive during the recent dip are now being squeezed as the price stabilizes and grinds higher. In other words, this move is being driven more by short covering than by fresh spot demand, which means it might not have the staying power bulls would hope for.
Crypto Tony is eyeing a key technical zone. A wick toward $92,300 could present an attractive short setup, he noted. But there's an unfilled downside gap below that's acting like a magnet, and that void may need to be filled before Bitcoin can mount any sustainable rally.
Daan Crypto Trades pointed out the classic weekend behavior that crypto traders know all too well. Bitcoin closed the CME futures session on Friday and reopened Monday at nearly the same level. No new CME gap was formed, and there are currently no significant nearby gaps acting as directional catalysts. Translation: expect more of the same sideways action until something breaks.
The Bigger Picture
While Bitcoin treads water, the crypto industry continues to push for regulatory clarity. Recent developments include discussions around how legislation like the CLARITY Act could benefit Ethereum and Solana, Coinbase's push for a crypto market-structure bill as the legislative window narrows, and Strategy's latest purchase of 13,627 BTC for $1.25 billion even as MSTR stock hovers around $150 support.
Cardano founder Charles Hoskinson even suggested that Trump's crypto czar should resign if a crypto bill doesn't pass in Q1, raising the stakes on Washington's ability to deliver. Meanwhile, crypto billionaire Michael Saylor continues naming Nvidia and Bitcoin among the best performing assets of the decade.
For now, though, it's a waiting game. Bitcoin needs either fresh demand or a technical catalyst to break out of this range, and Monday's price action suggests neither is arriving just yet.
