bitcoin Sunday traded in a tight range as several major altcoins posted stronger gains, even though the broader macroeconomic backdrop remains dominated by a historic rally in precious metals.
At 10:35 am UTC, the total crypto market capitalization stood at $3.06 trillion, an increase of 0.8% in the last 24 hours. bitcoin rose 0.5% to $87,872 and ether it gained 0.5% to $2,939. Among major altcoins, XRP up 1.1%, solana advanced 1.3% and rose 1.3%, outperforming bitcoin and ether during the same period.
Bitcoin remains in a range close to $88,000
TradingView’s 24-hour BTC-USD price chart (based on Bitstamp data) showed bitcoin trading within a narrow band. After falling early in the session, the price found support in the mid-$87,500s before bouncing towards the upper end of the range near $87,900. Every attempt to rise was met with selling, while pullbacks were relatively shallow, a pattern consistent with the consolidation of the weekend’s tight liquidity.
Crypto analyst Michaël van de Poppe said in X that bitcoin remains stuck between approximately $86,500 and $90,000. He said another test of the lower end of that range would be important because repeated tests can weaken support over time. If buyers fail to defend that area, he said he would next look towards $83,000 and then $80,000 as possible bearish zones.
On the upside, van de Poppe said a pullback towards $90,000 would be constructive if it also puts bitcoin above its 20-day moving average, a commonly observed short-term trend indicator. Reclaiming that level, he said, could set the stage for a stronger move towards $105,000.
Glassnode on-chain tiers frame where pressure may arise
Glassnode posted an update showing that several widely followed on-chain price models have changed slightly, with spot trading around $87,800. The analytics firm listed the short-term holder (STH) cost basis at $99,900, the active investor average at $87,700, the actual market average at $81,100, and the realized price at $56,200.
In on-chain analysis, the short-term fork cost basis is commonly used as a reference for where new buyers entered the market on average. With spot trading well below that level, many recent entrants are underwater, a condition traders often watch because rallies toward that zone can lead to selling by holders looking to exit near the breakeven point.
The average of active investors is almost exactly at current spot levels. In practical terms, that suggests that Bitcoin is trading near a midpoint associated with coins that have been moving more recently on-chain, a setup that often coincides with sideways price action as small moves cause that group to swing rapidly between modest gains and losses.
Below current prices, the true market average, near $81,100, is often treated as a deeper valuation benchmark rather than a forecast, while the realized price, near $56,200, represents the aggregated on-chain cost basis of the entire supply and is generally considered a long-term benchmark.
Precious metals rally keeps macroeconomic attention alive
Outside of cryptocurrencies, precious metals remained in the spotlight as investors continued to gravitate toward traditional inflation hedges amid concerns about long-term purchasing power.
The Kobeissi Letter noted on Friday that silver is up about 155% so far this year, briefly becoming the world’s third-largest asset by market capitalization, while gold is up about 72% this year. The firm compared the move to 1979, when inflation reached double-digit levels.
Fred Krueger, author of “The Big Bitcoin Book,” who said he is “not much of a chartist,” said on
In a follow-up post about 15 minutes later, Krueger argued that silver lacks the network effects of bitcoin, saying that the more silver rises, the faster it could fall as the narrative fades. He also said supply could respond in less than a month, starting with scrap, and suggested some investors might ultimately wonder why they didn’t just buy bitcoin.
