Crypto Market on High Alert: Americas Daybook

By Omkar Godbole (All times ET unless stated otherwise) The cryptocurrency market remains cautious, with bearish forecasts circulating due to price volatility. Bitcoin's bounce from Monday's dip below $84,000 has stalled near $87,000, while major altcoins such as XRP, ETH, SOL, and DOGE continue to hover near their Monday lows. The CoinDesk 20 and CoinDesk 80 Indices have seen minimal gains of less than 1% over the past 24 hours. According to Alex Kuptsikevich, FXPro's chief market analyst, "This lull following downward momentum is precarious, with the market at risk of reverting to a sell-off at any moment." He noted that the market capitalization is just below $3 trillion, adding, "The focus is now on whether the crypto market's bulls can defend the late November lows near $2.83 trillion." A positive note is that the ETF sell-off has paused, with the 11 U.S.-listed spot ETFs experiencing inflows of $8.48 million on Monday, marking a three-day streak, as reported by SoSoValue. However, the combined four-day figure of $229 million is still significantly lower than the billions in outflows since early October and needs to grow substantially to impact valuations. Some observers suggest reassessing the panic surrounding higher interest rates in Japan and their potential impact on cryptocurrencies and the broader financial market. Jeroen Blokland, founder of the Blokland Smart Multi-Asset Fund, stated on X, "If the Japanese government allows interest costs as a percentage of GDP to rise, widening the budget deficit while potential GDP growth is near zero, it will be forced to abandon the welfare state. In a society that is among the oldest in the world, that is not a viable option. Yield Curve Control will become part of the Bank of Japan's monetary policy again." In other key news, KAS, the native token of the Kaspa blockchain, which utilizes the blockDAG structure and GHOSTDAG protocol for high throughput, has shown weakness. The token rose 8% last month, defying the broader market weakness, as investors welcomed verified programmability (vProgs), which brings native, lightweight programmability directly to Kaspa's layer 1 without compromising speed, security, or decentralization. In traditional markets, Treasury yields remain high, supporting the dollar index. Remain vigilant! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today. What to Watch For a more comprehensive list of events this week, see CoinDesk's Crypto Week Ahead. Token Events For a more comprehensive list of events this week, see CoinDesk's Crypto Week Ahead. Conferences For a more comprehensive list of events this week, see CoinDesk's Crypto Week Ahead. Market Movements Bitcoin Stats Technical Analysis Crypto Equities Crypto Treasury Companies ETF Flows Spot BTC ETFs Spot ETH ETFs Source: Farside Investors While You Were Sleeping