Following a sharp correction driven by U.S. macroeconomic uncertainty last week, crypto markets have stabilized. While Bitcoin remains mostly unchanged, gaining just 0.5%, Ethereum and BNB have posted stronger gains, helping shift overall sentiment.
BNB Sets All-Time High
BNB gained more than 5%, setting a new all-time high of $880 before pulling back slightly. The surge was accompanied by $1.75 million in liquidations, mostly from short positions. BNB’s market cap now exceeds $120 billion, driven by growing usage of BNB Chain and ongoing token burns.
Ethereum Recovers Key Support Level
Ethereum rose over 4% in the last 24 hours, moving back above $4,300 after dipping below $4,200 earlier in the week. On-chain data shows Ethereum still leads in transaction fees and total value locked, maintaining around 60% dominance in DeFi. Futures markets remain steady, indicating no major shift in positioning.
Outlook
While it remains uncertain whether the current bounce will lead to a broader rally, Ethereum and BNB have shown stronger recovery compared to other top assets. Both tokens have reclaimed key levels, and in BNB’s case, set a new record. That said, the Crypto Fear & Greed Index remains in “fear” territory, suggesting that investor sentiment is still cautious following last week’s macro-driven correction.
With upcoming macro events such as the Federal Reserve’s Jackson Hole meeting still ahead, further volatility is possible. However, the latest rebound may signal growing interest in altcoins.
