Total crypto market cap (TOTALCAP) and Bitcoin (BTC) both posted decent gains today (3), with the former rising by nearly $100 billion. DeXe (DEXE) made its mark among altcoins, closing just above $20 in the past 24 hours.
In today's news:
Tron’s T3 Financial Crime Unit has frozen $100 million in USDT since September and identified $3 million tied to North Korean actors. These funds were allegedly used to support the regime’s fundraising through cryptocurrency exploits.
Terraform Labs founder Do Kwon has pleaded “not guilty” to federal fraud charges in a US court after being extradited from Montenegro. The US is seeking prison time, while South Korea is also seeking legal action against him.
Crypto market on the rise
The total crypto market capitalization increased by nearly $100 billion in 24 hours, reaching $3.34 trillion. It is currently holding above the critical support level of $3.28 trillion, reflecting strong momentum and renewed investor confidence.
This recent rally puts TOTALCAP closer to testing the $3.49 trillion resistance. To reach this milestone, the market cap must first solidify $3.28 trillion as support and bounce off it. Securing this level would provide a solid foundation for continued growth in the near term.
TOTALCAP Chart on TradingView
However, failure to hold $3.28 trillion as support could lead to a decline towards $3.10 trillion. Such a decline would erase the gains recorded in recent days, underscoring the importance of holding key levels to preserve market optimism.
Bitcoin Celebrates Major Milestone
Bitcoin is trading at $97,077, having successfully turned $95,668 into a strong support floor. The cryptocurrency is now approaching the critical $100,000 level, signaling renewed investor optimism and strong market momentum.
As Bitcoin celebrates 16 years since the Genesis block, this milestone has infused a bullish sentiment into the market. The excitement surrounding this historic event is contributing to BTC’s recent rise, highlighting its importance in boosting confidence among investors.
Bitcoin Chart on TradingView
On the other hand, if the current optimism fades, Bitcoin price could fall below $95,668, putting the bullish outlook at risk. A decline to $93,625 could occur, highlighting the need for sustained momentum to maintain upward progress.
DeXe takes first place
DEXE made an unexpected move into the top 100 cryptocurrencies, becoming the best-performing asset of the day with a 30% surge in 24 hours. This impressive rally captured the market’s attention, highlighting the altcoin’s growing momentum and potential for further gains.
Currently trading at $19.4, DEXE broke through the $20 resistance level but failed to establish it as support. Turning $20 into a support level could extend the altcoin’s uptrend, providing a foundation for continued growth and strengthening investor confidence in its bullish trajectory.
DEXE Chart on TradingView
However, failure to secure $20 as support could lead to a decline towards $15.9. Such a drop would erase a significant portion of DEXE's recent gains, invalidating the bullish outlook and highlighting the importance of maintaining key support levels for stability.
The article Why is the crypto market booming today, 01/03/2025? was first seen on BeInCrypto Brazil.
