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The total crypto market cap (TOTAL) noted a slight dip over the last 24 hours, with Bitcoin (BTC) halting its rise as well. This was the result of profit-taking after nearly a week of gains, which is natural and expected. Altcoins like (BONK) fell by 12% from the intra-day high after being overbought.
The Crypto Market Dips
The total crypto market cap declined by $14 billion over the past 24 hours, settling near $3.16 trillion. This level now acts as short-term support. Despite the pullback, selling pressure remained controlled, suggesting investors are cautious rather than exiting positions aggressively.
Broader market weakness weighed modestly on digital assets, limiting upside momentum. TOTAL failed to reclaim the $3.21 trillion resistance during the session. Current conditions point to consolidation, with the market likely hovering around $3.16 trillion as participants reassess risk and liquidity conditions.
A recovery depends on improving macro sentiment and reducing selling activity. If investors return to HODLing, TOTAL could rebound toward $3.21 trillion. Sustained demand and stable capital flows would be required to support a move higher and reestablish bullish momentum.
Bitcoin Holds under $94,000
Bitcoin trades near $93,021 at the time of writing, remaining below the $93,471 resistance. Earlier in the session, BTC nearly slipped under the $91,511 support during intraday weakness, highlighting fragile short-term momentum amid elevated market uncertainty.
The dip followed a broader market sell-off and liquidation-driven pressure. Bitcoin has since stabilized, but recovery remains tentative. If investor sentiment fails to improve, renewed selling could push BTC back toward the $91,511 level, testing buyer resolve once again.
A shift back to bullish positioning could alter near-term direction. Stronger demand may help Bitcoin reclaim $93,471 as support. Securing this level would open a path toward $95,000, restoring upside momentum and improving confidence across the market.
BONK Is Overbought
BONK experienced sharp volatility over the past 24 hours. The meme coin spiked to an intraday high of $0.00001340 before reversing lower. Price failed to hold above the $0.00001216 resistance, reinforcing this level as a key barrier limiting short-term upside momentum.
BONK now trades near $0.00001174, holding above the $0.00001103 support. If current market conditions persist, this support may face a retest. A breakdown could expose BONK to further downside, with $0.00001009 emerging as the next key support zone.
A recovery in bullish sentiment would change the outlook. Renewed buying pressure could push BONK back above $0.00001216. Securing this level may open a path toward $0.00001353, invalidating the bullish thesis and shifting momentum back in favor of buyers.
This article has been published in beincrypto.com via Yahoo News.
