Summary
- Global crypto market cap briefly hit $3.49 trillion before an $800 billion correction, with $3.10 trillion acting as critical support.
- Bitcoin (BTC) holds steady at $96,175, eyeing $100K; $89,800 remains a pivotal support level.
- Hedera Hashgraph (HBAR) surges 80% to $0.37, backed by strong demand at $0.25, signaling further upside potential.
Market Stability Fuels Altcoin Growth
Cryptocurrency markets show signs of consolidation, creating opportunities for altcoins like HBAR to thrive.
Key Developments
- Coinbase Exits Turkey: Withdrew licensing applications, joining 14 other firms in liquidation. Binance, KuCoin, and OKX remain under review.
Institutional Bitcoin Buys:
- MicroStrategy added 15,400 BTC ($1.5B), bringing total holdings to 402,100 BTC.
- Marathon Digital raised $700M via private placement to expand BTC acquisitions.
Cryptocurrency Market Hits New Highs
The total market cap peaked at $3.49 trillion intraday before retreating to $3.41 trillion. Sustaining this level could signal prolonged bullish momentum.
Critical Levels to Watch:
- Support: $3.10 trillion (breach may trigger bearish reversal).
- Resistance: $3.49 trillion (reclaiming this level reinforces bullish control).
Bitcoin Price Analysis
- Current Price: $96,175 (testing $96K support).
- Upside Target: $100K, which would set a new ATH.
- Key Support: $89,800—loss of this level may indicate trend exhaustion.
👉 Bitcoin’s path to $100K: What traders need to know
Hedera Hashgraph (HBAR) Outperformance
- Price: $0.37 (+80% in 24h).
- Support: $0.25 (holds multi-month significance).
- Risk: A drop below $0.25 could trigger a fall toward $0.18.
FAQs
Q: What’s driving the crypto market rally?
A: Institutional investments (e.g., MicroStrategy) and altcoin breakouts like HBAR’s 80% surge.
Q: Is Bitcoin’s $100K target realistic?
A: Yes, if $96K support holds. Momentum could accelerate post-breakout.
Q: Why did Coinbase leave Turkey?
A: Regulatory hurdles led to withdrawal of licensing applications.
👉 How to capitalize on altcoin rallies
Conclusion
While volatility persists, strategic support levels and institutional activity suggest sustained growth. Monitor $3.10T (market cap) and $89.8K (BTC) as decisive thresholds.
Disclaimer: This content is for informational purposes only. Cryptocurrency investments carry high risk; always conduct independent research.
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