The cryptocurrency market experienced a slight uptick on Friday, with Bitcoin rising 1.25% to $77,250 since midnight UTC. The CoinDesk 20 Index saw a 0.7% increase, with 14 of its members trading in the positive.
This surge follows Bitcoin finding support at the $75,000 mark, a level it had previously struggled to surpass, on Wednesday. The cryptocurrency has been range-bound between $75,000 and $80,000 since April 19. However, negative funding rates on futures exchanges indicate traders are predominantly positioned for a potential downturn.
Meanwhile, U.S. equity index futures saw minimal change, with Nasdaq 100 futures cooling down after the week's major tech earnings releases, while S&P 500 futures marginally rose by 5 points. Precious metals, including gold and silver, declined by 1% and 0.7%, respectively.
The altcoin market presented a mixed picture, with AXS and HYPE gaining around 3%, whereas DeFi tokens MORPHO and AAVE were in the red. The derivatives market positioning and token performance reflected the cautious sentiment prevailing in the market.