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The total market cap (TOTAL) continued its sideways movement, albeit noting some growth today, as did Bitcoin (BTC)’s price. Notcoin (NOT), on the other hand, impressed the market with a massive rally over the weekend.
In the news today:-
- Ethereum (ETH) supply on centralized exchanges reached its lowest point in years, as $3 billion worth of ETH exited since ETF approval.
- Binance announced the delisting of three altcoins – (XEM), OMG Network (OMG), and Waves (WAVES). The latter two were a surprise, given they were among the well-performing assets in 2023.
The Total Market Cap Heals
Despite the weak bullishness in the crypto market, TOTAL has not seen considerable growth. Still stuck around the $2.50 trillion mark, the total market cap is only moving sideways.
The rise, which was consistent under May 21, took a pause following the Ethereum ETF approval and has been struggling since then. Nevertheless, TOTAL added $28 billion in value over the last 24 hours, beginning June on a positive note.
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However, the $2.50 trillion market must be secured as a support floor to sustain this optimism.
Bitcoin’s Price Notes a Slight Jump
Bitcoin’s price, trading at $68,679, broke through the resistance of $68,500 today. BTC has been hovering around this price level for over 12 days now, awaiting a bullish push.
To initiate a recovery of the recent losses, BTC would first need to breach the resistance of $70,000. This would enable the world’s biggest crypto asset to close above $71,800, bringing it closer to the all-time high of $73,650.
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Should either of the breaches fail, Bitcoin’s price could slip to $66,000 or lower to $64,883.
Notcoin Is Not a Joke
The altcoin that became the highlight of the crypto market towards the end of May had a spectacular weekend. NOT’s price shot up by 94% in the last 48 hours, closing at $0.022.
During the intra-day rise, the altcoin reached a high of $0.029, marking a 152% rise. While this was not sustained, the altcoin managed to register a new all-time high.
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The next target for this altcoin is now $0.030, which will require a 44% jump at the hands of Notcoin. However, if NOT holders opt to sell, this growth could be invalidated, and the altcoin could fall on the charts.