Total crypto market capitalization (total) and Bitcoin (BTC) had a tough weekend. The US attacking Iran has caused massive liquidation and losses for investors, bringing BTC below $99,000. However, amidst the bearish, the story (IP) rose 12% and rose upward.
In today’s news: –
Strategy co-founder Michael Saylor suggests his company, and now could add Bitcoin to a total of around 592,100 BTC. This follows a mysterious pattern of signals before submitting an enhancement strategy as the largest corporate Bitcoin holder before submitting additional purchases to the SEC. Hacken’s native token $HAI lost its $5.5 million market capitalization after the attacker exploited a private key leak, resulting in massive token mint and a 98% drop in value. The company compensated the affected $hai owners by implying future token swaps.
The crypto market has been lost considerably
Total crypto market capitalization has now dropped by $36 billion over the past 24 hours, at $3.06 trillion. The decline was driven by a US attack on Iran following a $138 billion decline on Sunday. The market is under pressure and investors’ sentiment following these events are still uncertain.
Despite a short recovery, the total market capitalization is below the $3.09 trillion resistance level. Regaining this level and flipping it into support is important for a sustained recovery. If Total did not do so, it would remain vulnerable to further declines, possibly falling to $3.00 trillion.
However, if the total is successfully recovered $3.09 trillion in support, the market could return to $3.16 trillion. Such moves will help mark a recovery from recent losses, restore investor confidence and increase market capitalization in the short term.
Bitcoin regains $101,000 in support
Bitcoin has experienced a rough day, falling below $99,000 at its lowest level on Sunday. The decline was caused by rising tensions in the Middle East after the US was hit by an attack on Iran. Bitcoin prices responded sharply to geopolitical unrest and put pressure on the broader crypto market.
Currently, Bitcoin is trading at $101,102, exceeding the $100,000 support level. Altcoin is about to recover from recent losses, but this recovery is dependent on wider market sentiment. Investor trust remains weak as RSI sits in the bearish zone underneath the neutral mark, limiting potential profits.
As investors sentiment continues to decline and pressure sales continue to rise, Bitcoin is heading below $100,000 and towards $98,000. Breaks below this key support level show a deeper bearish trend. However, if support is $101,503, Bitcoin could rebound and move beyond $102,734, indicating a potential recovery of $105,000.
The story surprised the market
The story emerged as the best performance asset of the day, up 12% despite the overall bear market situation. This surge helped Altcoin to go above $3.00. Investors are watching carefully as the story shows strong resilience. Recent market fluctuations have made him one of the top performers.
Parabolic SAR indicators moved under candlesticks, indicating a potential shift in momentum upward trend. The price of Story, currently trading at $3.03, is poised to continue on an upward trajectory. If bullish momentum continues, the story could rise towards $3.55 in the coming days, further attracting investor interest.
However, if the story is facing significant sales pressure, it could fall below the $3.00 level. A decrease to $2.64 will invalidate the current bullish paper, indicating a potential reversal.
Disclaimer
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