Red figures after strong rally: crypto market cools slightly

Bitcoin and consorts are taking a breather after last week's extreme rise.

The crypto market is cooling a bit. Red figures are visible almost everywhere. Bitcoin is down about 4 percent, many altcoins are losing between 0.5 percent and 10 percent. Overall, the market capitalization is down about 3.2 percent and now stands at 3.24 trillion (9 a.m. reading).

A normal consolidation: last week Bitcoin almost reached 100,000 euros, and many altcoins rose by double digits. The mood barometer temporarily reached 94 points, a record level for "absolute greed." Now this has dropped to 83 points.

Open interest for Bitcoin stands at 116 billion, down slightly about 3 percent. In the futures market, there are currently more short positions, or bets on falling prices (51 percent).

Bitcoin spot ETFs are also showing a decline. Outflows of 438 million euros were recorded on Nov. 25, 2024. BlackRock bought for about 240 million euros, while the other 11 asset managers sold almost exclusively.