The total crypto market cap (TOTAL) and Bitcoin (BTC) have observed a slight increase over the past day, thus maintaining the momentum. The trajectory of altcoins is taking shape after this momentum, even if it exceeds it, with companies like Audiera (BEAT) marking a 69% rise.
In the news today: –
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The Uniswap unification fee change proposal has passed the required voting threshold and is expected to go live later this week. The upgrade will enable protocol fees, burn 100 million UNI tokens, and introduce incentives to increase returns from liquidity providers.
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A power outage caused by a PG&E substation fire left 130,000 San Francisco customers without power, cutting off access to crypto wallets and exchanges. The incident highlighted how the usability of crypto still depends on local energy and internet infrastructure despite blockchain’s decentralization.
The total crypto market cap currently stands at $2.98 trillion, up $16 billion in the last 24 hours. This upward movement suggests a potential stabilization in the short term. If the buying momentum continues, Bitcoin could see limited gains in the near term.
For a more sustainable recovery, market capitalization must recover $3 trillion as a strong support level. A decisive surpassing of this psychological threshold would likely strengthen investor confidence and attract new capital.
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However, if the recovery loses steam, downside risks remain. The market could pull back towards $2.92 trillion, with $2.85 trillion being the next key support level.
Bitcoin is currently trading at $88,846, maintaining its position above the resistance level of $88,210. This area had previously limited upward movement at the start of the month, and its transformation into support indicates near-term stability.
To offset the recent declines, Bitcoin needs to push towards the $90,308 resistance level. A confirmed breakout above this price could strengthen investor sentiment and indicate renewed bullish momentum.
On the other hand, if buying pressure weakens, Bitcoin could fall below $88,210. A clear break below this level would focus on $86,361 as the next downside target, and the loss of both supports could intensify the downside pressure.
BEAT surged 69% in the last 24 hours, taking the price to $4.07 at the time of writing. The rally produced a new intraday record. Strong demand and aggressive momentum highlight increased speculative interest as traders react to rapid price expansion.
