Bitcoin traded in a tight range on Sunday as several major altcoins posted stronger gains, despite the broader macro backdrop remaining dominated by a historic rally in precious metals.
From At 10:35 UTC, the total crypto market cap was $3.06 trillion, up 0.8% over the past 24 hours. bitcoin rose 0.5% to $87,872, and ether rose 0.5% to $2,939. Among major altcoins, XRP rose 1.1%, solana advanced 1.3% and rose 1.3%, all of which outperformed bitcoin and ether over the same period.
Bitcoin remains range close to $88,000
The 24-hour BTC-USD chart from TradingView (based on data from Bitstamp) showed bitcoin trading within a narrow band. After slipping earlier in the session, the price found support in the mid-$87,500s before returning towards the upper end of the range near $87,900. Each attempt to push higher was met with selling, while pullbacks were relatively shallow, a pattern consistent with consolidation in thin weekend liquidity.
Cryptoanalyst Michaël van de Poppe said on X that bitcoin remains stuck between around $86,500 and $90,000. He said another test of the lower end of that range would be important because repeated retests can weaken support over time. If buyers fail to defend this area, he said he would next look towards $83,000 and then $80,000 as potential downside zones.
On the positive side, van de Poppe said a move back towards $90,000 would be constructive if it also places bitcoin above its 20-day moving average, a commonly watched short-term trend indicator. Regaining that level, he said, could set the stage for a stronger move toward $105,000.
Glassnode’s on-chain levels framework where pressure can occur
Glassnode issued an update showing that several widely followed pricing models on the chain have changed slightly, with spot trading around $87,800. The research firm noted short-term holder (STH) cost basis at $99,900, active investors average at $87,700, true market mean at $81,100 and realized price at $56,200.
In on-chain analysis, the short-term owner cost base is commonly used as a reference for where recent buyers entered the market on average. With spot trading well below this level, many recent entrants are underwater, a condition traders often see because rallies against this zone can run into selling by holders looking to close near breakeven.
The active investors mean they are sitting almost exactly at current spot levels. In practical terms, this suggests that bitcoin is trading near a midpoint associated with coins that have recently moved in the chain, a setup that often coincides with sideways price action, as small moves quickly flip this group between modest gains and losses.
At current prices, the true market mean, near $81,100, is often treated as a deeper valuation reference rather than a forecast, while the realized price, near $56,200, represents the total chain cost basis for the entire supply and is generally considered a long-term benchmark.
Precious metals rally keeps macro focus sharp
Outside of crypto, 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 pointed out Friday that silver is up about 155% year-to-date, 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 was running at double-digit levels.
Fred Krueger, author of “The Big Bitcoin Book,” who said he’s “not much of a chartist,” said on X that he noticed a key line on a bitcoin/silver chart and suggested it raises the question of whether bitcoin could rise 50% while silver falls 50% in the very short term.
In a follow-up post about 15 minutes later, Krueger argued that silver lacks bitcoin’s network effects, saying that the more silver spikes, the faster it could fall as the narrative fades. He also said that supply could respond in less than a month, starting with scrap metal, and suggested that some investors might eventually ask why they didn’t just buy bitcoin instead.
