The total crypto market cap (TOTAL) and Bitcoin (BTC) have noted decent gains over the last 24 hours. The latter is now holding above the $115,000 mark. Leading the charge among the altcoins is Ondo (ONDO) with a 10% rise.
In the news today:-
Sponsored- Jair Bolsonaro, Brazil’s former president, was convicted on five counts—including plotting a coup and subverting democratic institutions—and sentenced to over 27 years behind bars. Though his tenure saw only limited progress on pro-crypto regulation, his conviction could trigger wider instability across Brazil’s markets.
- Gemini’s IPO drew demand exceeding supply by more than 20 times, prompting the exchange to lift its price range to $24–$26. With trading set to debut Friday on Nasdaq under GEMI, the valuation could hit $3.1 billion at the top end.
The Crypto Market Claims Support
The total crypto market cap surged by $63 billion in the past 24 hours, reaching $3.95 trillion at press time. Market analysts highlight that TOTAL is closing in on the $4.01 trillion threshold. This level represents a critical resistance zone that could determine the market’s near-term trajectory.
If macroeconomic conditions stay favorable, TOTAL may continue its upward movement through the weekend. Securing $3.94 trillion as reliable support could allow the market cap to breach $4.01 trillion. Such a move would reinforce investor confidence and signal the continuation of a strong bullish phase across major cryptocurrencies.
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However, risks remain if sentiment turns bearish. Deteriorating financial conditions could drag TOTAL under $3.94 trillion, breaking key support. A sharper decline might push valuations toward $3.89 trillion, and an extended downturn could expose the market to $3.81 trillion, undermining recent gains and weakening overall crypto market stability.
Bitcoin Retakes Crucial Support
SponsoredBitcoin’s price has recorded steady gains in the past 48 hours, bringing the crypto leader to $115,256 at press time. The asset is currently maintaining support above $115,000, a crucial level for sustaining momentum.
If bullish momentum continues, Bitcoin may rebound from $115,000 and target $117,261 in the coming sessions. A successful move to this resistance could further extend investor profits, improving market sentiment. Such a rally would also edge BTC closer to the highly anticipated $120,000 milestone, reinforcing optimism among long-term holders.
However, downside risks remain present if selling activity intensifies. Profit-taking by BTC holders could weigh on price action, potentially erasing recent gains. In that case, Bitcoin might decline toward $112,500, signaling weakness in buyer conviction. A fall to this level would raise concerns about short-term stability and market resilience.
Ondo Wears The Mantle Of The Leader
ONDO defied the broader market downturn, gaining 10% in the last 24 hours while most altcoins faced losses. The token is currently trading at $1.12, marking a strong performance on the daily chart.
With $1.06 established as firm support, ONDO is positioned for potential upside. A push toward $1.17 could help the token flip this resistance into support. Securing that level may open the path for a rally toward $1.27, extending gains and potentially driving stronger bullish conviction among investors and traders.
Still, profit-taking could weigh heavily on ONDO’s momentum. As the altcoin trades near a two-month high, increased selling pressure may trigger a breakdown. If ONDO slips below $1.07, it risks falling toward $1.00. Such a decline would undermine bullish sentiment and invalidate the optimistic technical outlook.
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