The total cryptocurrency market cap (TOTAL) and Bitcoin (BTC) have fallen slightly over the past 24 hours. As the cryptocurrency market cools, altcoins are also affected, with First Neiro (NEIRO) on Ethereum being one of the biggest losers of the day.
Cryptocurrency market cools down
The total cryptocurrency market capitalization has lost $66 billion in the past 24 hours, falling to $2.86 trillion, having failed to secure support at $2.90 trillion. This marks a major setback to its recent bullish momentum.
Despite the stock market decline, investor bullish sentiment remains strong. However, a correction triggered by the sell-off could drop the market value to $2.75 trillion, erasing more of the recent gains.
If the market recovers and reclaims support at $2.90 trillion, this could propel TOTAL past $3.03 trillion. Achieving this milestone would set a new all-time high for the cryptocurrency’s market capitalization.
Bitcoin shows red candlestick chart
Bitcoin is trading at $88,234 and is struggling to push towards the $88,691 support level. This move is crucial for the cryptocurrency to continue to break through the recent all-time high of $93,242 and continue its impressive daily record.
If Bitcoin fails to maintain its current momentum, further declines could test the $85,000 support level. If this critical level is breached, the price could face a steeper decline to $80,301, which would significantly weaken the bullish sentiment.
For a recovery to occur, Bitcoin must maintain its current momentum, which is largely influenced by holders avoiding profit-taking. Sustaining the positive market sentiment could allow the cryptocurrency to resume its upward trajectory and set higher highs in the near term.
Expect altcoin breakthroughs
Altcoins could see a massive rally soon, and many could see a breakout after a quick decline. Take advantage of 20-50% price drops in popular altcoins, believing that this could provide an excellent buying opportunity.
Historically, altcoins often experience sharp rebounds after pullbacks, especially during bullish phases. For greater stability, large-cap altcoins tend to perform better, with smaller declines and greater upside potential.
“Buying the dip” can pay off
The practice of “buying the dip” has proven to be profitable for many in the cryptocurrency market in the past. For example, the rapid recovery of major assets after price declines in recent months has demonstrated the potential of this approach.
While Bitcoin often takes the spotlight, altcoins tend to see more significant percentage gains, especially during bull cycles.
The total cryptocurrency market cap (TOTAL) and Bitcoin (BTC) have fallen slightly over the past 24 hours. As the cryptocurrency market cools, altcoins are also affected, with First Neiro (NEIRO) on Ethereum being one of the biggest losers of the day.
Cryptocurrency market cools down
The total cryptocurrency market capitalization has lost $66 billion in the past 24 hours, falling to $2.86 trillion, having failed to secure support at $2.90 trillion. This marks a major setback to its recent bullish momentum.
Despite the stock market decline, investor bullish sentiment remains strong. However, a correction triggered by the sell-off could drop the market value to $2.75 trillion, erasing more of the recent gains.
If the market recovers and reclaims support at $2.90 trillion, this could propel TOTAL past $3.03 trillion. Achieving this milestone would set a new all-time high for the cryptocurrency’s market capitalization.
Bitcoin shows red candlestick chart
Bitcoin is trading at $88,234 and is struggling to push towards the $88,691 support level. This move is crucial for the cryptocurrency to continue to break through the recent all-time high of $93,242 and continue its impressive daily record.
If Bitcoin fails to maintain its current momentum, further declines could test the $85,000 support level. If this critical level is breached, the price could face a steeper decline to $80,301, which would significantly weaken the bullish sentiment.
For a recovery to occur, Bitcoin must maintain its current momentum, which is largely influenced by holders avoiding profit-taking. Sustaining the positive market sentiment could allow the cryptocurrency to resume its upward trajectory and set higher highs in the near term.
Expect altcoin breakthroughs
Altcoins could see a massive rally soon, and many could see a breakout after a quick decline. Take advantage of 20-50% price drops in popular altcoins, which could provide excellent buying opportunities.
Historically, altcoins often experience sharp rebounds after pullbacks, especially during bullish phases. For greater stability, large-cap altcoins tend to perform better, with smaller declines and greater upside potential.
“Buying the dip” can pay off
The practice of “buying the dip” has proven to be profitable for many in the cryptocurrency market in the past. For example, the rapid recovery of major assets after price declines in recent months has demonstrated the potential of this approach.
While Bitcoin often takes the spotlight, altcoins tend to see more significant percentage gains, especially during bull cycles.
