Crypto Market Stabilizes Amid Low Trading Activity
The crypto market's capitalization has remained relatively stable over the past 24 hours, hovering around $2.18 trillion. Trading activity is currently low due to the holiday season.
Bitcoin retreated to $63,300 on Tuesday but found support at its 50-day moving average. Despite remaining above this trend line for nearly a month, the leading cryptocurrency has been unable to break free from it.
Binance Coin rose to $620, a two-month high, before encountering resistance at the 200-day moving average and pulling back to $610. The coin has maintained its uptrend since August, steadily widening its gap relative to the 50-day moving average.
Large addresses are building up their positions, with the number of addresses holding over 10,000 increasing to a six-month high. However, balances in small wallets have been declining in August.