The total crypto market cap (TOTAL) and Bitcoin (BTC) jumped over the last 24 hours as the US Treasury declined. This also triggered a rise among the altcoins, with Zcash (ZEC) taking the lead following a 32% rise in 24 hours.
In the news today: –
Sponsored- Foreign central banks now hold more gold than US Treasuries for the first time since the mid-1990s. This shift signals a growing preference for gold’s stability over the perceived safety of US debt.
- Vitalik Buterin and Anatoly Yakovenko have clashed over the security of Ethereum’s layer-2 networks. Buterin argues that L2s inherit Ethereum’s strong action against 51% attacks and maintain base-layer finality guarantees.
The Crypto Market Jumps
The total crypto market cap surged by more than $123 billion in the past 24 hours, bringing TOTAL to $3.85 trillion. This sharp increase follows a decline in US Treasury yields, which drove investors toward digital assets.
Crypto tokens are gaining momentum as TOTAL approaches the key resistance of $3.89 trillion. A successful breakout above this level could strengthen the broader bullish sentiment.
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However, if investors react to volatility with panic selling, TOTAL could drop below $3.81 trillion and retest $3.73 trillion. Such a correction would indicate weakening confidence and profit-taking among short-term traders.
SponsoredBitcoin Finds Room To Rise
Bitcoin is trading at $114,954 after breaching the $112,500 resistance over the past 24 hours. The crypto king remains just below the $115,000 mark, testing investor conviction.
Marking a two-week high, Bitcoin’s price has restored market optimism that BTC could continue rising. Analysts see potential for an advance toward $117,261 if current momentum holds.
However, if profit-taking intensifies, Bitcoin could retrace to $112,500 or even $110,000. Such a decline would indicate waning demand and renewed selling pressure. Maintaining support above $112,500 is critical to preserve the current uptrend.
Zcash Leads The Gains
ZEC price has surged 32% in the past 24 hours, reaching $365 at press time. The altcoin’s rapid rise reflects strong market demand and renewed investor confidence. ZEC may continue attracting attention.
The next major target for ZEC is $400, a critical resistance level that could determine its short-term trajectory. Breaching this barrier would signal continued bullish strength and potential for further gains.
However, ZEC may face sharp selling pressure from short-term traders who are taking profits. A correction could push the price below $338, potentially testing $300 or lower. Such a decline would undermine the bullish outlook.
