Crypto Market Consolidates Amid Equity Gains

The crypto market has been consolidating within a narrow range despite recent gains in equities and a weakening dollar. Over the past seven days, the market capitalization has lost around 2%.

The top gainers over the past 24 hours were Zcash (+4.8%), Dash (+2.4%), and Near Protocol (+1%). However, Cosmos (-3.8%), Aptos (-2.7%), and Filecoin (-2%) experienced significant losses.

Bitcoin has been trading below its 50-day moving average for four consecutive days after an initial attempt to break above it was followed by a pullback to $63.3K. On a weekly time frame, the leading cryptocurrency remains below the 200-week MA, indicating that bears are dominating both medium-term and ultra-long-term trends.