The total crypto market cap (TOTAL) and Bitcoin (BTC) are showing signs of steadiness, which supports the growth of altcoins. This is evident in Hedera Hashgraph’s (HBAR) 80% rise over the last 24 hours.
The Crypto Market Forms New Highs
The total crypto market capitalization reached an intra-day high of $3.49 trillion, marking a brief surge in value. However, it faced a correction, retracting by $80 billion. This volatility highlights the ongoing fluctuations in the crypto market, with investors monitoring price movements closely for signs of stability.
Currently, the total market cap stands at $3.41 trillion, showing an attempt to establish support around this level. If the crypto market can maintain this threshold, it may signal continued growth in the coming weeks. Traders and analysts will be keen to see whether the market can sustain this momentum without further declines.
Sponsored Sponsored
The key level to watch is the $3.10 trillion support. If the total market cap dips below this point, the recent bullish trend could be considered reversed. A fall below $3.10 trillion could trigger a shift in investor sentiment, potentially leading to further price corrections across the market.
Bitcoin Stands Still
Bitcoin is currently trading at $96,175, aiming to establish solid support at the $96,000 level. This support is vital for Bitcoin to regain its upward momentum and reignite its rally. A firm hold at this level could set the stage for further price appreciation in the near future.
For Bitcoin to reach the $100,000 mark, it must maintain support around $96,000. Hitting this psychological level would signify a price increase and also mark a new all-time high (ATH) for BTC. Achieving this milestone would reinforce the ongoing bullish sentiment among investors and traders in the crypto market.
The critical support level for Bitcoin remains at $89,800. While a drop below this level is considered unlikely, it could signal a shift in market sentiment. If Bitcoin fails to hold support at $89,800, the bullish outlook for further gains could be invalidated, potentially triggering a market correction.
Hedera Hashgraph Continues to Impress
HBAR’s price surged by 80% in the last 24 hours, currently trading at $0.37. This impressive rally signals strong investor interest and market momentum. The price increase suggests potential continued growth if the bullish trend holds, making it a cryptocurrency to watch in the near term for further gains.
The recent growth has propelled HBAR to a multi-month high, turning the $0.25 level into a key support zone. If HBAR can maintain its price above this level, it will help sustain the upward momentum. Holding above $0.25 is crucial for the altcoin to continue its rally and avoid a potential price pullback.
However, if HBAR falls below the $0.25 support, it risks a significant decline to $0.18 or lower. Such a drop could invalidate the current bullish outlook, signaling a potential reversal in market sentiment.
Source: Be (in) Crypto
