Crypto markets are feeling the squeeze, with money moving around but not much coming in. Bitcoin is stuck around $103, 000, and other big coins like ZEC, ICP, and QNT are seeing gains. But overall, the market feels like a game of musical chairs—money is just moving from one place to another, not growing.

This isn't just a short-term thing. For months, new money flowing into crypto has slowed down. Stablecoins, ETFs, and digital asset treasuries (DATs) aren't bringing in the cash they used to. U. S. spot ETFs, for example, have seen over $1. 5 billion leave in just under two weeks. Even though the global money supply (M2) is growing, it's not making its way into crypto. This might be because the extra money is being used for things like AI, infrastructure, and boosting local economies instead.

So, when will things change? Maybe soon. The Federal Reserve is starting to ease up, which could mean more inflation. That might help Bitcoin and other digital assets that act like gold. But for now, traders are watching Bitcoin closely. If it bounces back from a key support level, it could signal new highs.

In other news, Coinbase is asking the U. S. Treasury to keep new stablecoin rules reasonable. Meanwhile, a crypto exchange called Lighter just teamed up with Chainlink for better data on real-world assets. And in traditional markets, the dollar is getting stronger, which could put more pressure on crypto.

Big events to watch today include interest rate decisions from the Bank of England and Mexico's central bank. Plus, the Federal Reserve's Christopher Waller is giving a speech on payments and banking. Earnings reports from Block and Iren are also on the agenda.

Bitcoin is down slightly from yesterday, while Ethereum and other major coins are mixed. Traditional markets like stocks and commodities are showing some gains, but the dollar is holding steady.

On the technical side, Bitcoin is testing key support levels. If it holds, it could mean more gains ahead. But if it breaks down, things could get messy. Traders are also hedging their bets with options, showing they're preparing for both ups and downs.

In the end, the crypto market is in a weird spot. Money isn't flowing in like it used to, but there are still opportunities for those who know where to look. Keep an eye on Bitcoin's next move—it could set the tone for the rest of the market.

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