The total crypto market cap (TOTAL) grew over the last 24 hours, with Bitcoin (BTC) also observing a jump past $88,000. Among the altcoins, Zcash (ZEC) marked the highest gains, rising by 13% over the past day.
In the news today:-
Sponsored- The SEC finalized civil settlements with three former FTX and Alameda Research executives, closing a major part of its case tied to the exchange’s collapse. The regulator said FTX raised over $1.8 billion by portraying itself as a secure platform with strong customer asset protections.
- Poland’s parliament overrode a presidential veto to advance the Crypto-Assets Market Act, sending the bill to the Senate. Lawmakers passed the unchanged legislation 241–183, effectively rejecting President Karol Nawrocki’s objections.
The Crypto Market Jumps
The total crypto market cap stands at $2.95 trillion, rising by $96 billion in the past 24 hours. This recovery attempt suggests short-term stabilization. If buying pressure persists, Bitcoin and major altcoins could see modest upside.
For a stronger price recovery, the total crypto market cap must decisively reclaim $3.00 trillion. A breakout above this psychological level would likely restore investor confidence. Such a move could attract fresh inflows.
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Failure to sustain the recovery would expose downside risks. A pullback to $2.92 trillion could follow, with $2.85 trillion acting as the next critical support.
SponsoredBitcoin Recovers Slightly
Bitcoin is trading at $88,173 at the time of writing, holding below the $88,210 resistance level. This zone previously cushioned upside pressure earlier this month. Flipping this level into support suggests short-term stability.
To recover recent losses, Bitcoin must advance toward the $90,308 resistance level. A confirmed breakout above this threshold would likely improve investor confidence. Such a move could signal renewed bullish momentum.
If bullish momentum fades, Bitcoin risks a decline back to $86,361. A decisive break below this support may expose $84,698 as the next downside target. Losing both levels could extend bearish pressure.
Zcash Is Leading The Gains
Zcash surged 13% over the past 24 hours, lifting the price to $440 at the time of writing. The rally places ZEC just below the $442 resistance level. Converting this zone into support is essential to sustain momentum and confirm a short-term trend shift.
Macro indicators remain constructive. The Ichimoku Cloud signals ongoing bullish momentum, suggesting buyers retain control. If this structure holds, ZEC could extend gains beyond current levels and target the $520 resistance, supported by improving trend strength and continued market participation.
Downside risks remain if momentum weakens. Failure to reclaim $442 or renewed selling pressure could push ZEC below the $403 support. A breakdown from that level may send the price toward $340, invalidating the bullish thesis and reinforcing a broader corrective phase.
