The total crypto market cap (TOTAL) and Bitcoin (BTC) are both trading in green today as altcoins pushed the demand higher. MYX Finance (MYX) led the rally by skyrocketing 77.89% in the last 24 hours.
In the news today:-
Sponsored- Jupiter co-founder Siong Ong questioned whether the platform should halt JUP token buybacks after spending over $70 million with limited price impact. He suggested redirecting funds toward user growth and incentives, asking the community for feedback on the potential shift.
- BitVentures Limited has entered crypto mining weeks after its rebrand, acquiring Bitmain hardware to mine Bitcoin, Litecoin, and Dogecoin. The company secured 0.5 MW of US data center power and plans to expand into staking and node services.
The Crypto Market Crosses $3 Trillion
The total crypto market crossed the critical point of $3.00 trillion after registering a $52 billion increase today. The rise is likely owing to the optimism following the New Year.
A more solidified rise, however, depends on the market securing the $3.00 trillion level and holding it as firm support. The next resistance for TOTAL is to breach past the $3.05 trillion level.
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On the downside, weakness in buying pressure could reopen risks. A slip below $3.00 trillion may trigger further losses, with $2.92 trillion emerging as the next critical area where buyers are expected to step in.
SponsoredBitcoin Climbs to $90,000
Bitcoin is changing hands at $89,746 at the time of writing and is holding above the $89,21 support level. This level had restricted price advances earlier this month, and its shift into support suggests the market is finding a short-term footing.
To recover from recent pullbacks, Bitcoin must challenge the resistance around $90,000. A sustained buying spree is crucial to push BTC beyond this zone, which would likely reinforce bullish confidence and attract renewed interest. The Relative Strength Index (RSI) is in the positive zone, suggesting bullish momentum is strengthening, aiding recovery.
If demand fades, downside risks could resurface. A drop below $89,241 would weaken the current structure and shift attention to $88,166 as the next support area. Failing to defend both levels could increase selling pressure and deepen losses for Bitcoin holders.
MYX Finance Hits 2-Month High
MYX led the altcoin market with a 77.8% surge in the past 24 hours. The token broke through multiple resistance levels before stalling near $7.00. Strong volume accompanied the rally, signaling heightened speculative interest, though short-term volatility remains elevated after such rapid gains.
Rising demand helped MYX clear the $5.38 resistance, confirming bullish momentum. However, rallies of this magnitude often attract profit-taking. If $7.00 flips into support, downside risk may ease, allowing the uptrend to stabilize and reducing the likelihood of an immediate corrective pullback.
Profit booking remains a key threat to the bullish setup. If selling pressure increases, MYX could retrace toward the $5.83 support. A breakdown below this level would invalidate the bullish thesis and may trigger a deeper decline toward the $4.25 zone.
