The crypto market has advanced further by another 4.92% over the last day, with a total market cap of $2.72 trillion, and the $3 trillion mark on the horizon.
Bitcoin is above its previous all-time high at around $71,000 at the time of writing, and the total crypto market cap looks like this:
Interestingly enough, the liquidations in crypto over the last day haven’t been especially harsh, compared to the figures when Bitcoin first broke above $69,000.
Over the last day, traders have lost around $258 million, with the bears suffering the worst of it at around $154 million, and the bulls coming in at around $104 million.
In summary, today, we can say that the bulls have all of the control. For now, at least.
Where To From Here?
It turns out that Bitcoin's actual high from yesterday was around $72,800.
The cryptocurrency now trades at around $71,600 and is consolidating above the $69,000 support.
We should also mention that Bitcoin has two courses of action from here.
Bitcoin can either continue further upwards to around $75,000 amid another wave of bearish liquidations, or we see a Bitcoin consolidation above $69,000 that allows the altcoins to catch up.
Overall, Bitcoin remains safe from the bears, as long as we don’t see a break below $69,000.
What’s Going On With Ethereum?
The much anticipated Dencun Upgrade that is expected to make Ethereum a lot faster and cheaper is set to go live tomorrow.
So far, we haven't seen any especially bullish (or even bearish) impulse moves on ETH.
As shown above, today is just another Tuesday for Ethereum, and what we see is a consolidation above $3,700.
Will a post-Dencun rally occur? Nobody knows.
However, what we do know is that Ethereum remains safe as long as it stays above $3,700. However, we still need to see a break above $4,000 very soon.
TonCoin’s New ATH
Toncoin just broke above its previous ATH of $3.56, and now trades at around $3.73 with nearly 40% in gains over the last day.
What we see above is massive bullishness on TonCoin, that has propelled the cryptocurrency into a new all-time high.
The smart course of action from here though, would be to wait.
The Fibonacci retracement tool shows us that a strong resistance sits at around $4, and we can be sure that TON will continue further upwards if we see a break and close above this psychological resistance.
Onwards With IOTA
IOTA, according to the charts, has rebounded nicely off the $0.2 resistance and is targetting its $0.46 local high.
Considering how much omentum IOTA is packing at the time of writing, we can say that a break above this $0.46 high is set to propel the cryptocurrency straight up anywhere between 60% to 80% to between $0.62 and $0.768.
Is Avalanche Back?
Avalanche broke the $50 resistance in the last 24 hours. However, instead of exploding further upwards, the cryptocurrency has now printed a red candle and is consolidating.
This outlook on Avalanche means that we still need to see the cryptocurrency break and close above $50 for any kind of confirmation.
To this end, investors are advised to wait, because a decline to around $44 or even lower remains possible if Avalanche doesn't complete this conversion of the $50 mark into support.
