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The total crypto market cap (TOTAL) grew by $83 billion in the last 24 hours, sitting at $3.41 trillion at the time of writing. Bitcoin (BTC) bounced back after forming a 5-month low, with OFFICIAL TRUMP (TRUMP) leading the altcoins following an 18% rise in the past day.
In the news today:-
- Iggy Azalea’s Mother Coin surged 25% after the launch of Thrust, a Solana-based platform promoting transparency in celebrity-backed tokens. The rise comes amid broader market declines in Bitcoin and Ethereum, as investors shift focus toward memecoins and alternative digital assets for potential short-term gains.
- Franklin Templeton launched Hong Kong’s first Luxembourg-registered tokenized money market fund under the HKMA’s “Fintech 2030” initiative. The Franklin OnChain U.S. Government Money Fund marks the city’s first end-to-end tokenized investment product by a global asset manager.
The Crypto Market Jumps
The total crypto market capitalization surged by $83 billion, climbing to $3.41 trillion at the time of writing. However, TOTAL remains capped below the $3.43 trillion resistance level. The market’s current consolidation phase suggests cautious optimism as investors await stronger bullish confirmation before pushing prices higher.
TOTAL’s momentum has strengthened following improvements in global macrofinancial conditions, reigniting confidence among investors. If the crypto market successfully breaches the $3.43 trillion resistance, it could trigger an extended rally toward $3.49 trillion and eventually $3.56 trillion. This scenario would reaffirm market resilience and encourage renewed institutional participation.
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However, if the broader market sentiment weakens, TOTAL could lose momentum and retrace its recent gains. A dip below $3.35 trillion would expose the $3.31 trillion support level, where buyers may attempt to stabilize prices. Falling below this point could erase the week’s growth and signal renewed bearish pressure.
Bitcoin Attempts Recovery
Bitcoin’s price is trading at $103,543, rebounding after touching a five-month low of $98,940 during intra-day trading. The recovery indicates cautious optimism among traders, though the crypto king still faces strong resistance overhead. Sustained buying pressure will be essential for Bitcoin to confirm a meaningful short-term reversal.
BTC is currently consolidating below the $105,000 resistance, waiting for renewed bullish momentum to drive a breakout. Investor confidence remains key to sustaining this rebound. If Bitcoin manages to breach $105,000 successfully, it could trigger a rally toward $108,000, signaling potential recovery from last week’s steep correction.
However, if investor sentiment weakens or the market turns risk-off, Bitcoin could lose its footing above the $101,477 support level. A drop below $100,000 would invalidate the bullish outlook, potentially sending BTC down to $98,000. Such a move could reignite panic selling across the broader cryptocurrency market.
OFFICIAL TRUMP Leads The Altcoins
TRUMP became the day’s top-performing altcoin, soaring 18.74% after news that Fight Fight Fight LLC, its issuer, is in talks to acquire Republic.com’s U.S. operations. The potential integration could expand TRUMP’s real-world utility, as Republic’s platform has supported over 3,000 successful fundraising campaigns to date.
TRUMP’s price is trading at $8.25, sitting just below the crucial $8.35 resistance level. A decisive breakout above this barrier could strengthen bullish momentum, setting the stage for a move toward $9.00. Such a rally would reinforce growing investor confidence following recent developments tied to TRUMP’s potential ecosystem expansion.
However, if the TRUMP price fails to sustain current levels and dips below the $8.00 support, bearish pressure could intensify. A fall toward $7.35 would negate recent bullish signals, suggesting weakening investor sentiment. Losing this critical support may prompt short-term traders to exit, deepening the correction phase.
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