Bitcoin once again rose above $42,000 over the weekend, reaching a high of $42,800, while Ethereum also briefly surpassed $2,300. Unfortunately, the upward momentum declined afterwards, and there was a slight fall before the deadline.

Bitcoin returned to above $40,000 over the weekend and surged to a high of $42,842 around 1 pm yesterday (28) after a period of narrow oscillation.

Unfortunately, selling pressure emerged afterwards, and before the deadline, it was reported at $41,968, a decrease of 0.05% in the past 24 hours. Whether it can stabilize above $42,000 still needs to be observed continuously.

Has the GBTC sell-off wave passed?

According to SoSoValue data, the Bitcoin spot ETF showed net outflows for four consecutive days from the 22nd to the 25th of last week, with a total outflow of $422 million. However, it finally showed net inflows again on Friday, with a scale of $14.81 million.

With funds once again experiencing net inflows and the outflow amount of Grayscale GBTC gradually decreasing, analysts believe that the peak of the sell-off may have passed, but it still needs to be observed continuously this week.

Ethereum briefly surpasses $2,300

As for Ethereum (ETH), its trend is generally similar to BTC. Yesterday (28) afternoon, it briefly surpassed $2,300. Before the deadline, it also oscillated and fell to $2,258, a decrease of 0.34% in the past 24 hours.

Trend of the top ten cryptocurrencies

CoinMarketCap data shows that the top ten cryptocurrencies have experienced mixed changes in the past 24 hours. AVAX saw the largest increase of 3.36%, SOL increased by 1.7%; XRP and DOGE decreased by 1.34% and 1.67% respectively.

Over $100 million in liquidation amount in the past 24 hours

According to Coinglass data, the total amount of liquidations in the cryptocurrency market accumulated to $104 million in the past 24 hours, with 41,291 investors being liquidated. Among the liquidated cryptocurrencies, BTC accounted for $30.15 million, ranking first, and ETH followed with $15.97 million.

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