Even as the crypto market faces a slowdown, it continues its ascent, reaching a staggering value of $3.35 trillion over the weekend. This uptick, consistent since early February, certainly paints a promising picture for traders navigating these digital waters.

The Stars Align

Ethereum and Dogecoin have been pivotal to this market rise, boasting a remarkable 40% increase within a mere week. While Ethereum’s hefty influence stands out, both cryptocurrencies light the path towards significant gains, carrot-and-stick fashion guiding traders’ fortunes.

Greed or Opportunity?

Consolidation looms as sentiment rests comfortably in the greed zone, with an index read at 70 for three consecutive days. This positioning isn’t hot enough to cause a sell-off, nor is it too tepid to dampen enthusiasm—a sweet spot ripe for further gains. As stated in Action Forex, the stage might be set for a new peak, perhaps sooner than expected.

Bitcoin’s Unyielding Push

Bitcoin ascended above $105.5k this Monday, approaching its historic highs after two failed attempts in recent months. Analysts predict that the impressive corrective turn from January to April has paved the way for another bullish wave, with expectations high for BTCUSD to topple its own records.

Inflows and Outflows

Weekly net inflows into spot Bitcoin ETFs in the US continue unabated, tallying an impressive \(921 million this third consecutive week. Conversely, Ethereum's ETF inflows broke, signaling a net outflow of \)38.2 million. Yet, optimism remains as strategies of significant firms outpace the coin issuance rate by miners, suggesting an unseen annual deflationary trend of 2.23%.

Miners Shift Gears

Public mining companies have shifted from their traditional HOLDing strategy. Selling nearly 70% of mined Bitcoins in April amidst declining profitability marks a notable change. This realignment reflects the miners’ adaptability in response to evolving market conditions.

Risks and Rewards

While strategic investments in Bitcoin have been considered by firms like Coinbase, risks have daunted such pursuits. Brian Armstrong, head of the exchange, cites these uncertainties, positioning caution over ambition—a sentiment echoed across cautious crypto venture capitalists worldwide.

The crypto market stands on a delicate precipice, where calculated risks can lead to untold rewards, or unforeseen perils. Traders should keep their eyes peeled and strategies agile amidst these transformative times.