#加密货币 #BTC #FTM
The total cryptocurrency market capitalization (TOTAL) and Bitcoin (BTC) have significantly declined today, triggering bearish sentiment across the market. Following BTC's lead, many altcoins have fallen on the leaderboard, with Fantom (FTM) being the largest loser of the day.
Cryptocurrency market suffers heavy losses.
In the past 24 hours, the total cryptocurrency market capitalization has dropped by $104 billion, falling to $3.27 trillion. This decline reflects increasing bearish pressure across the market, raising concerns among investors about the possibility of further losses. It remains uncertain whether the market can stabilize.
Despite the shrinkage, Total could still potentially recover and regain the $3.28 trillion support, indicating a possibility of a rebound. However, 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 become invalid. Total may successfully break through key resistance levels and attempt to re-break the $3.49 trillion mark.
Bitcoin remains above key support levels.
Bitcoin's price 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 increasing 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. Continued hype around 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 crucial 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 foundation for further increases in the New Year.
Fantom's monthly sales are at a low.
Fantom's price has dropped 8% in the past 24 hours, making it the currency with the largest decline of the day. This drop has brought the altcoin down to a monthly low, raising concerns among investors about its ability to recover in a bear market environment.
FTM is currently trading at $0.88, 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 recovery, overturning the bearish outlook to $0.76 and restoring investor confidence.