The total cryptocurrency market capitalization (TOTAL) and Bitcoin (BTC) have both seen a recovery, with the former adding more than $50 billion in the past 24 hours. Altcoin have also enjoyed this bullish momentum, especially meme coins, with Mog Coin up more than 16% in a day.
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The cryptocurrency market is recovering
The total cryptocurrency market capitalization has increased by $54 billion over the past day to $2.16 trillion as macroeconomic conditions improve. The recovery bodes well for the broader cryptocurrency market.
Currently, the total cryptocurrency market capitalization is hovering above the $2.11 trillion support level. A successful recapture of the $2.24 trillion support level would fuel further recovery and potentially erase some of the recent losses.
However, if the market fails to break through the $2.24 trillion resistance level, Total will likely continue to remain below this threshold for the foreseeable future and remain above $2.11 trillion as a key support level.
Bitcoin continues to rise
The price of Bitcoin has been rising steadily over the past 24 hours and is currently trading at $63,551, firmly above the $61,868 support level. This positive momentum reflects the improvement in market sentiment.
If the overall market conditions remain stable and Bitcoin continues this bullish trend, a move to $65,292 is possible. A breakout above this critical level would open the doors for Bitcoin to rise further, boosting its upward trajectory.
On the other hand, if unexpected selling pressure emerges, Bitcoin could fall back to the $61,868 support level. Losing this critical support level would invalidate the bullish outlook, potentially sending BTC down to $60,000.
Popcat Memecoin hits new high!
Ethereum is currently valued at $2,485.24, up 2.88% from its previous price. With the two most popular cryptocurrencies still rising, investors are cautiously optimistic about the future.
Subsequently, Solana (SOL) performed well again, rising 4.57% to $149.18. Although XRP was not volatile, it had good momentum and rose 1.95% to $0.5407. In the uptrend, meme currencies saw a big rise, with Popcat hitting a new all-time high.
Stocks with the biggest gains:
The biggest gainer of the day was Dogwifthat (DWH), which rose 18.16% to $2.63. MogCoin followed closely behind, rising 17.41% to a current value of $0.0000001673. Popcat also saw a noteworthy gain of 16.80%, reaching $1.41. It is worth noting that in less than a month, one smart whale made $4.36 million in profit from Popcat, which means a return of more than 100%.
The currencies with the biggest declines:
Monero (XMR) led the decline, falling 4.31% to $147.08. Kaspa (KAS) followed, falling 1.68% to $0.1442, while Tether Gold (XAUT) saw the smallest drop of 0.34% and was trading at $2,645.25.
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