BTC stabilizes around $64,255 with institutional demand steady but markets eye catalysts for a breakout from range-bound trading.
Bitcoin traded near $64,300 on Friday, reflecting a tight range as traders await a catalyst to spur volatility. The cryptocurrency hovered at $64,255, down 0.78%, while Ethereum dipped 0.41% to $1,903. Total market capitalization stood at $2.27 trillion, with BTC dominance at 56.8%.
The Fear & Greed Index registered 29, signaling fear, and altcoins underperformed with an index reading of 43 out of 100. Recent U.S. jobless claims fell to 199K, raising questions about near-term liquidity conditions for crypto markets.
Institutional demand remained a key support, though small-cap tokens like Catecoin and Fusionist surged over 89% amid speculative trading. Funding rounds for firms like Jpyc and Zigchain highlighted ongoing investment in blockchain infrastructure.