#加密货币 #BTC #FTM
The total cryptocurrency market capitalization (TOTAL) and Bitcoin (BTC) fell sharply today, sparking bearish sentiment across the market. Following BTC’s footsteps, many altcoins fell on the charts, with Fantom (FTM) being the biggest loser of the day.
Cryptocurrency markets suffer heavy losses
The total cryptocurrency market capitalization fell by $104 billion to $3.27 trillion in the past 24 hours. The decline reflects the growing bearish pressure across the market, raising investor concerns about the potential for further losses. Whether the market can stabilize remains uncertain.
Despite the drawdown, it is possible that TOTAL could recover and retake support at $3.28 trillion, suggesting a rebound is possible. But if this fails and macro-financial signals remain bearish, TOTAL could fall to $3.10 trillion.
Cryptocurrency market capitalization analysis.
On the other hand, if trading activity regains momentum, this bearish outlook will be invalidated. Total may successfully break through key resistance levels and attempt to re突破 the $3.49 trillion mark.
Bitcoin remains above the key support level.
The price of Bitcoin has fallen to $96,444, maintaining above the key support level of $95,668. This decline is due to BTC's inability to reclaim the $100,000 support level. The current price trend reflects increased market uncertainty as investors assess Bitcoin's recovery potential in the coming days.
In the short term, Bitcoin may consolidate above $95,668, with little likelihood of a significant drop. The ongoing hype from New Year celebrations has fostered a cautiously optimistic sentiment, preventing the formation of bearish momentum.
Bitcoin price analysis.
Successfully breaking through $100,000 would mark a key moment for Bitcoin, potentially pushing its price towards $105,000. This move could signal the beginning of a new bullish trend, attracting more investors and laying the groundwork for further increases in the new year.
Fantom's monthly sales are at a low.
Fantom's price has dropped by 8% in the past 24 hours, making it the largest loser of the day. This decline has brought the altcoin down to a monthly low, raising concerns among investors about its recovery potential in a bear market environment.
FTM is currently trading at $0.88, positioned between the support level of $0.76 and the resistance level of $1.03. Whether altcoins can maintain the current price range will depend on broader market sentiment and increased trading activity in the coming days.
FTM price analysis.
If broader market signals turn bullish, FTM may target the resistance level of $1.03. Turning this into a support level would mark the beginning of a recovery, overturning the bearish outlook down to $0.76 and restoring investor confidence.