The recent market has been pretty interesting, showing a lot of resilience in its volatility.

Money is starting to flow back into major coins like BTC and ETH. Both retail investors and institutions are increasing their positions, but leverage is being used very cautiously. BTC is now holding steady around $92,000, and the overall market cap is about $3.25 trillion.

Last week was scary, though—a cascade of liquidations wiped out $4,000 in just one hour, triggering almost $2 billion in liquidations. But as you can see now, things have stabilized again.

The main feature of this cycle is: everyone is bullish, but no one dares to go all-in. Funds are very cautious, mostly allocated to leading assets. Market sentiment is recovering, just at a relatively slow pace.