bitcoin and ethereum traded below key psychological levels on sunday evening as the global cryptocurrency market cap fell 11 to 182 trillion see also best usdc interest rates why it matters bitcoin traded a bit flat over the weekend with relatively thinner volumes at press time the apex coin was below the 40000 level risk assets are under pressure with stock futures trading lower ahead of a hectic earnings week on sunday the sp 500 and nasdaq futures were 03 and 04 down respectively at press time expectations for a half percentage point rate hike in the central bank’s may meeting are baked in after the us federal reserve chair jerome powell said last week it was “absolutely essential” to restore price stability alternativeme’s “crypto fear  greed index” flashed “extreme fear” at press time the index has remained unchanged from last week on friday bitcoin saw some support around the 40000 level which is an “encouraging sign” according to oanda senior market analyst craig erlam cryptocurrency trader michaël van de poppe tweeted “slightly in favor the market goes up the next week” he said that it is crucial that bitcoin holds the 38000 to 39000 region as ethereum moves to a proofofstake model the rate of staking is set to surge according to delphi digital this increase in staking is expected post “the merge” the merge is a reference to a merger between the cryptocurrency’s mainnet and the beacon chain proofofstake system the independent research firm said in a note seen by benzinga that currently nearly 97 of the total eth supply is being staked “all staked eth will remain out of circulation until another upgrade finally happens after the merge is complete as a result staking will continue to be a significant supply sink for eth into the foreseeable future” said delphi digital read next this crypto analyst warns stock market may trigger crypto market crash