The overall market outlook is positive ahead of the highly anticipated White House Crypto Summit, with the global crypto market cap at $3.02 trillion.
Daily volume has declined 20% to just over $117 billion, while total crypto liquidations have decreased 57% to $229 million in the past 24 hours.
However, sentiment remains largely in the fear territory with the crypto fear & greed index metric reading at 30.
Could the rebound for Bitcoin (BTC) to above $92k help bulls across the market? Bitcoin Cash is among those to surge in the past 24 hours.
Analysts suggest USA-linked coins could be among those to watch ahead of Friday’s crypto-related event at the White House.
Analyst’s take
BTC dominance remains at 60% after a recent dip. It suggests a possible breakout for the top coin.
However, crypto analyst Miles Deutscher points out that altcoins’ seasonality index is hovering at extreme lows.
Hitting oversold territory may see alts experience some relief.
The altcoin seasonality index has just hit extreme lows.
Altcoin metrics peaked in December and $BTC has taken the lead since.
However, we are now approaching oversold territory. Could altcoins be in for some relief soon? 🤔
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ONDO, CRO, LINK among top gainers
Crypto markets are witnessing a notable bounce in early trading on March 6, 2025, with top coins Bitcoin (BTC) and Ethereum (ETH) retesting key price levels.
As BTC bids for upward continuation above $90k and ETH looks to strengthen above $2.300, altcoins recording the biggest moves in the past 24 hours include Movement (MOVE), Ondo (ONDO), Cronos (CRO) and Chainlink (LINK).
ONDO and CRO were both up 13% in the past 24 hours at $1.18 and $0.09 respectively.
Cronos gains amid recent news around Crypto.com gaining full license in Europe.
MOVE rose sharply after hitting a new low on March 4 and traded 17% up at $0.49.
Like Cronos, Ondo and LINK, the surge comes amid anticipation around the White House crypto event.
Movement also gained amid a $3.2 million MOVE buy pressure from World Liberty Financial.
According to LunarCrush, Ondo and Chainlink are among real-world asset linked projects to command massive social chatter.
RWA is on 🔥
Social mentions are moving significantly higher across the entire sector today with many of the leading assets showing double digit price moves.
Top real-world assets by social mentions:
1) Chainlink
2) Hedera
3) Avalanche
4) Injective
5) VeChain
6) Internet…
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This suggests increased attention and could be a factor in what direction prices take in coming days and weeks.
Other tokens to watch in this period include Hedera, Injective, VeChain, Internet Computer and Avalanche.
Crypto top losers today
Most top altcoins were trading green on the day after recovering from a tariffs-related downturn earlier in the week.
Despite this, there are tokens facing significant profit taking pressure after outpacing peers in the last few weeks.
These include Pi Network (PI), Quant (QNT) and Mantra (OM). PI hovered below $1.90, QNT around $86 and OM near $6.91, with their respective prices down more than 6% in the past 24 hours.
Other top losers in the crypto market today are Hedera, Story and Cardano, down between 4% and 5%.
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