The total crypto market cap fluctuated over the last 24 hours before rising by $60 billion from an intraday low. Bitcoin’s price is attempting to secure its spot above the local support to reach $110,000. Among the altcoins, Uniswap took the lead, rising by 22% following SEC Chair Paul Atkins’ positive comments regarding DeFi (Decentralized Finance).
In the news today:-
- Reports suggest President Trump is considering Treasury Secretary Scott Bessent to replace Jerome Powell as Federal Reserve Chair when his term expires in May 2026. This potential move comes amid ongoing tensions between Trump and Powell, raising concerns about possible disruptions to US fiscal policy.
- Around 200 people in Kibera, Kenya’s largest slum, are adopting Bitcoin for daily use, driven by local activism. However, while many are excited about Bitcoin’s growth potential, building a sustainable crypto community in such challenging conditions remains a difficult task.
The Crypto Market Recovers
The total crypto market cap experienced significant fluctuations over the last 24 hours, reaching an intraday low of $3.33 trillion. However, the market quickly recovered, gaining $60 billion, and is now standing at $3.40 trillion. This rebound highlights the volatility in the crypto space and investor sentiment.
The future of TOTAL’s price largely depends on the market conditions in the coming days. If these conditions remain positive, there is potential for a breach of the $3.43 trillion resistance. A move above this level could push the market cap to $3.49 trillion, continuing the upward momentum.
However, if market conditions worsen, the crypto market cap could drop back to $3.31 trillion. Such a decline would erase the recent gains made in the last few days and negatively impact investor profits, marking a potential shift in the market’s overall direction.
Bitcoin Is Looking For Support
Bitcoin’s price is currently at $109,657, having breached the $110,000 resistance multiple times over the past 24 hours. However, it has not yet managed to secure this resistance level as support. The ongoing price action indicates uncertainty in the market and the potential for further fluctuations.
If Bitcoin sustains above the local support level of $109,476, it could push toward a new all-time high (ATH) beyond $111,980. This would confirm the continuation of the bullish trend and signal confidence among investors. Maintaining this support is crucial for BTC to continue its upward momentum in the near term.
On the other hand if Bitcoin fails to hold the $109,476 support and experiences a drop, the price could fall to $108,000. Such a decline would invalidate the bullish outlook and potentially result in losses for investors. A failure to maintain the support level could lead to further price corrections.
Uniswap Leads The Gains
Uniswap has taken the top spot today, surging by 22% within the last 24 hours. This significant price jump follows SEC Chair Paul Atkins’ recent comments at the Crypto Task Force Roundtable on Monday, favoring decentralized finance (DeFi), which fueled positive sentiment among investors. The rally reflects growing confidence in DeFi projects like Uniswap.
Currently trading at $8.35, Uniswap aims to secure the $8.29 support level. If successful, this will enable the altcoin to push past the $8.76 resistance barrier. Establishing $8.29 as support is crucial for Uniswap to maintain its bullish momentum and target higher price levels in the near future.
However, if Uniswap fails to maintain the $8.29 support, the altcoin could fall to $7.55. A decline to this level would invalidate the bullish outlook, suggesting that selling pressure outweighs buying interest. Such a drop would mark a significant shift in investor sentiment.
Disclaimer
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