- Bitcoin retains dominance as altcoins struggle, reflected in a low Altcoin Season Index.
- ETF outflows and volatility index suggest traders remain cautious despite price gains.
- Strong perpetuals activity and rising prices hint at short-term confidence amid fear.
The cryptocurrency market is exhibiting mixed signals, reflecting both cautious optimism and underlying uncertainty. Fear & Greed Index is currently in the “Fear” zone with a score of 39, which, while an improvement from the previous “Extreme Fear” state, still signals investor hesitancy.
The Crypto Fear & Greed Index is currently in "Fear" after being in "Extreme Fear" for the past week.
— CoinGecko (@coingecko) April 10, 2025
What is your take on the market mood right now? pic.twitter.com/ZjYm7SCkvI
Bitcoin and Major Cryptocurrencies: A Positive Short-Term Trend
The past week has seen encouraging price movements for key cryptocurrencies. Bitcoin, for example, is trading at $81,648.55, marking a 5.10% increase.
Ethereum follows closely, rising by 7.70% to $1,596.28, and Solana has jumped by 7.02% to $114.82. XRP is leading the gains, surging by 9.11% to $1.9929. These short-term gains reflect positive momentum for the broader market.
Bitcoin’s Dominance and Market Composition
Despite the overall market’s caution, Bitcoin continues to dominate, holding a 62.6% market share. Ethereum follows with a 7.4% share, while the rest of the cryptocurrency market accounts for 30.0%. The market capitalization for all cryptocurrencies currently stands at $2.59 trillion, with trading volume at a substantial $159.65 billion.
These figures indicate strong participation, yet the market is still predominantly driven by Bitcoin, with altcoins lagging behind. This is further confirmed by the Altcoin Season Index, which stands at a mere 16 out of 100, signaling that Bitcoin remains the focal point for investors.
ETF Withdrawals and Derivatives Activity
Investor caution is also evident in the crypto ETF market, which saw a net withdrawal of $138.4 million. This trend of outflows aligns with the increase in profit-taking behavior and market uncertainty leading up to April 9. On the other hand, derivatives markets show a different picture.
Open interest in perpetual contracts has surged to $457.23 billion, indicating robust trading activity. However, futures contracts are seeing comparatively lower interest at $3.38 billion.
The heightened volatility expectations, especially for Ethereum, also reflect this uncertainty, with Ethereum’s Volmex Implied Volatility Index standing at 77.06, compared to Bitcoin’s 55.14.
