LIVE#write2earn Crypto Market Steadies as Bitcoin Consolidates and Bittensor Nears $500
#BittensorTAO #MarketNews #FIT21 #etf
The overall cryptocurrency market cap (TOTAL) remains stable as the market cools off. Bitcoin's (BTC) price is expected to consolidate over the coming trading sessions, while the Bit tensor DAO token (TAO) continues its rally, nearing the $500 mark.
In the News Today:
US House of Representatives: Passed the Financial Innovation and Technology for the 21st Century Act (FIT21), setting up a framework for digital asset regulation.
Van Eck: Pushed the SEC to approve spot Ethereum ETF filings on a first-come, first-served basis. Van Eck argues that the SEC's practice of approving all filings simultaneously to avoid giving a first mover advantage raises fairness issues.
The total crypto market cap is at a crucial support level of $2.50 trillion, with anticipation of a rebound due to recent inflows. The next resistance is at $2.61 trillion, but a bullish move might only reach $2.55 trillion. Falling below $2.50 trillion could lead to a decline to $2.45 trillion, negating bullish prospects.
Bitcoin Might See Consolidation:
Bitcoin is trading at $69,500 after failing to break $71,800. It has critical support at $68,500 and is expected to stay rangebound between $68,500 and $71,800. If it loses support at $68,500, it could drop to $66,000.
TAO Faces a Barrier:
TAO is trading at $468 after a 30% rise. TAO is approaching the $500 resistance, a level it has struggled to close above. Breaking through $500 could signal a positive shift, but failure might see TAO fall back to $418 or even $351.
