The total crypto market cap (TOTAL) and Bitcoin (BTC) continued their sideways momentum as the week began. Dogecoin (DOGE), following in the footsteps of the crypto king, registered a 7.5% decline in the last 24 hours.
In the news today:-
Sponsored- Strategy plans to convert its $6 billion in convertible bond debt into equity, reducing balance sheet debt while potentially diluting existing shareholders. The firm says its $49 billion Bitcoin holdings can withstand a drop to $8,000 per BTC and still fully cover outstanding debt.
- Apollo Global Management has partnered with Morpho, agreeing to acquire up to 90 million MORPHO tokens, or 9% of the total supply, over four years. The deal aims to support and expand Morpho’s on-chain lending infrastructure, though specific collaboration details were not disclosed.
The Crypto Market Is Moving Sideways
The total crypto market capitalization declined by $48 billion, now standing at $2.33 trillion. The drop followed another failed attempt to break the $2.37 trillion resistance level. That barrier has capped upside for weeks, reinforcing short-term weakness across Bitcoin, Ethereum, and major altcoins amid cautious investor positioning.
TOTAL may continue facing pressure unless broader macro conditions improve. Weak liquidity and limited risk appetite remain constraints. Without strong external catalysts, the crypto market is likely to consolidate above the $2.30 trillion level, reflecting a balance between defensive buyers and short-term sellers in current conditions.
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However, bullish momentum could reemerge if capital inflows strengthen. Renewed institutional interest and improving sentiment may shift positioning. A decisive move above $2.37 trillion would signal breakout potential. Sustained buying pressure could then push TOTAL toward $2.45 trillion, restoring confidence across the broader digital asset market.
SponsoredBitcoin Remains Under $70,000
Bitcoin is trading at $68,783 at the time of writing. BTC has remained below the $70,000 resistance level for 10 consecutive days. This psychological barrier continues to influence trader behavior, as a breakout could trigger aggressive accumulation, while repeated rejection may encourage short-term profit-taking.
The Chaikin Money Flow indicator shows a downtick and remains below the zero line. This signals persistent capital outflows from Bitcoin markets. Weak inflows could limit upside momentum and reinforce resistance at $70,000. Continued selling pressure may increase the risk of BTC sliding back toward the $65,000 support zone.
However, renewed investor demand could shift sentiment quickly. Strong spot buying and derivatives support may help Bitcoin reclaim $70,000 as support. A confirmed breakout could drive BTC toward $72,294. Sustained bullish momentum may then push the price toward $75,000, fully invalidating the current bearish outlook.
Dogecoin Takes a Hit
Dogecoin is down 7.5% over the past 24 hours, trading at $0.1026 at the time of writing. The meme coin leader faced rejection at $0.1107 resistance. Price action slipped below the $0.1028 support level, signaling short-term weakness amid broader cryptocurrency market volatility.
Despite the decline, the Money Flow Index remains in positive territory. This suggests buying pressure has not fully dissipated. Sustained inflows could help Dogecoin stabilize above current levels. A recovery move may retest $0.1172 resistance, with extended bullish momentum potentially driving price toward $0.1280.
However, broader market sentiment remains a critical factor. If investors react defensively to macro uncertainty, renewed selling could intensify. A breakdown below current levels may send Dogecoin toward $0.0966. Further weakness could push the price to $0.0883, invalidating the near-term bullish outlook.
