Traders have recently been selling off rallies in Ether, Solana, and XRP, while Monero has made headlines by surging above $640

Analysts suggest that improving macroeconomic conditions and stabilizing prices could support the crypto markets in the medium term, with Bitcoin potentially reaching $120,000 if sentiment shifts positively

The crypto markets are displaying mixed signals, as Bitcoin tests its 50-day moving average and hovers near $90,300. Monero's impressive 44% increase over the past eight days reflects a growing interest in privacy-focused assets, although analysts advise caution due to potential pullbacks.

Currently, Bitcoin is facing selling pressure, and a slip below $90,000 could trigger further declines. Overall, the market appears to be adopting a sell-the-rally mentality, which may characterize the coming months.