The global crypto market cap slipped 0.84% in the past 24 hours, extending a weekly decline of about 5.4%. The total market capitalization now sits near $2.98 trillion, down from the recent swing high of $3.34 trillion. The TradingView chart shows the market trending below its 30-day simple moving average (SMA), while Heikin Ashi candles continue to print weak momentum and narrow-bodied consolidation — a signal that sellers are still in control, but exhaustion may be setting in.
The global crypto market cap slipped 0.84% in the past 24 hours, extending a weekly decline of about 5.4%. The total market capitalization now sits near $2.98 trillion, down from the recent swing high of $3.34 trillion. The TradingView chart shows the market trending below its 30-day simple moving average (SMA), while Heikin Ashi candles continue to print weak momentum and narrow-bodied consolidation — a signal that sellers are still in control, but exhaustion may be setting in.
South Africa’s central bank sounded fresh alarms this week about the risks of unchecked crypto growth, highlighting that 7.8 million local users and $1.5 billion in assets now sit outside formal regulatory oversight. This comes right after the U.S. SEC began scrutinizing Fed chair candidate Kevin Hassett’s ties to Coinbase, adding another layer of political friction.
For traders, this means one thing: uncertainty. Each new regulatory headline reinforces caution, particularly among institutional investors who prefer compliant exposure via ETFs or regulated custodians. Altcoins, already more volatile, feel the pressure first as liquidity thins out and speculative positions unwind.
