The total crypto market cap (TOTAL) and Bitcoin (BTC) grew slightly in the last 24 hours, with the latter climbing to $92,378. Zcash (ZEC) is leading the altcoins with a 9% rise, nearing the $450 mark.
In the news today:-
Sponsored- Twenty One Capital debuted on the NYSE with a $3.9 billion Bitcoin treasury but saw its stock drop sharply on opening day. The listing raises questions about the firm’s path forward as it enters public markets built around Bitcoin during a broader market downturn.
- The American Federation of Teachers urged the Senate to drop its crypto market structure bill, warning that it threatens pensions by weakening investor protections. The union says the proposal removes key safeguards and could let firms issue blockchain-based stocks without standard registration or reporting requirements.
The Crypto Market Jumps
The total crypto market cap jumped by $63 billion in 24 hours, reaching $3.12 trillion while holding below the $3.16 trillion resistance. Renewed optimism across major assets is driving sentiment as traders position ahead of a pivotal macro decision.
Anticipation surrounding the FOMC’s interest rate announcement is fueling strong bullish momentum. If confidence continues building, TOTAL could break above $3.16 trillion and advance toward the $3.21 trillion zone.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
However, if bullish momentum weakens, TOTAL may slip back to $3.09 trillion or $3.05 trillion. Any deeper decline could drag the market cap toward the key $3.00 trillion psychological level, a move that would challenge the current recovery outlook.
SponsoredBitcoin Escapes Its Downtrned
Bitcoin’s price is at $92,378 after nearly touching $95,000 during the intra-day high, fueled by bullish expectations ahead of the Federal Reserve decision. The crypto king is gaining strong momentum as traders price in a favorable macro shift that could lift digital assets across the board.
At the moment, Bitcoin appears to have broken free from the month-and-a-half-long downtrend that capped every rally attempt. If this bullish momentum continues, BTC could push toward the $95,000 resistance level and attempt a decisive breakout that strengthens recovery prospects and boosts market confidence.
However, if the bullish momentum fades, Bitcoin’s price could slip below $91,521 and retest $90,400 as support. Losing this key level would weaken buyer conviction and invalidate the bullish thesis, exposing BTC to deeper corrective pressure.
Zcash Continues Its Rise
ZEC price is up 9% in the last 24 hours, rising to $443 after bouncing off the $403 support level. The altcoin is now aiming at a rise to $520 to recover a chunk of the losses noted towards the end of November.
The Ichimoku Cloud signals that bullish momentum remains intact, suggesting ZEC could extend its climb if market support holds. A successful flip of $442 into support may open the path toward $520 and rise higher.
However, if investor sentiment weakens and selling pressure emerges, ZEC could slip back toward $403. Losing this support would invalidate the bullish outlook and erase much of the recent upside, falling to $340.
