📈 Why Is the Crypto Market Up Today?
The total crypto market cap (TOTAL) and Bitcoin (BTC) have noted decent gains over the past day, with the former rising by nearly $100 billion. DeXe (DEXE) made its mark among the altcoins today, nearly closing above $20 over the last 24 hours.
🔸 The Crypto Market Is In Green
The total crypto market cap surged by nearly $100 billion in the past 24 hours, reaching $3.34 trillion. Currently, TOTAL is holding above the critical $3.28 trillion support level, reflecting strong momentum and renewed investor confidence.
This recent uptick positions TOTAL closer to testing the $3.49 trillion resistance. To achieve this milestone, the market cap must first solidify $3.28 trillion as support and bounce off it. Securing this level would provide a strong foundation for continued growth in the near term.
However, failure to maintain $3.28 trillion as support could lead to a decline toward $3.10 trillion. Such a drop would erase the gains recorded over the past few days, emphasizing the importance of sustaining key levels to preserve market optimism.
🔸 #Bitcoin Celebrates A Major Milestone
Bitcoin is trading at $97,077, having successfully turned $95,668 into a strong support floor. The cryptocurrency is now nearing 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 bullish sentiment into the market. The enthusiasm surrounding this historic event is contributing to BTC’s recent rise, highlighting its importance in driving confidence among investors.
On the other hand, if the current optimism fades, Bitcoin’s price could drop below $95,668, jeopardizing the bullish outlook. A decline to $93,625 could follow, highlighting the need for sustained momentum to maintain upward progress.