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Due to maintaining low volatility, the total cryptocurrency market capitalization (TOTAL) and Bitcoin (BTC) remain stable near key price levels. Stacks (STX) is seizing this momentum, rising 15% in the past 24 hours.

Today's news is: -

• A recent Citigroup study predicts that the global stablecoin market could reach $3.7 trillion by 2030, with a baseline scenario of $1.5 trillion. Despite potential risks that could lead to a bearish $0.5 trillion scenario, the report remains optimistic, highlighting its potential global market impact.
• A false rumor spread online claiming the Catholic Church would excommunicate, leading to a $6.4 million bet on the next Pope prediction market on Polymarket. The false information was shared by a popular X account, condemning platforms like Polymarket for turning the papal election into financial speculation.

Cryptocurrency Market Capitalization Approaches $3 Trillion

Over the past 24 hours, the total cryptocurrency market cap has remained stable, staying above the $2.85 trillion support level. The current trading price is $2.89 trillion, and despite minor fluctuations, the market appears to be stabilizing. This stability comes as investors await a potential breakthrough.

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The total market cap is about to break through the $3.00 trillion mark, but faces resistance at $2.93 trillion. If the market successfully converts this resistance level into support, it could trigger further bullish momentum, leading to stronger growth.

However, breaking below the $2.85 trillion support level could cause the total cryptocurrency market cap to decline. This might drive the market lower, testing levels of $2.80 trillion or even $2.74 trillion, thus undermining the current bullish outlook.

Bitcoin Needs a Push

Bitcoin's price shows minimal volatility, trading at $93,397 at the time of writing. Despite low volatility in the past 24 hours, BTC struggles to maintain the $93,625 support level. The lack of decisive price action makes Bitcoin vulnerable to short-term fluctuations.

If Bitcoin can stabilize above the $93,625 support level in the coming days, it may further explore $95,668. This level is the final resistance before reaching $100,000. Successfully breaking through could further ignite bullish momentum, pushing Bitcoin to new price levels and boosting investor confidence.

However, if Bitcoin fails to hold above $93,625 and faces selling pressure, it may break critical support levels. Falling below $91,581 and $89,800 would invalidate the bullish outlook and continue the current price weakness.

Stacks Reaches Two-Month High

STX becomes the best-performing Altcoin of the day, rising 15.5% and trading at $0.902. The Altcoin successfully broke through $0.870, showing strong bullish momentum. This significant price movement highlights investor confidence and suggests potential further growth if market conditions remain favorable for STX.

As STX reaches a two-month high, it may continue rising towards the $1.000 mark. If it breaks through this level, STX could target the next resistance at $1.088, indicating further upside potential. Successfully breaking $1.000 could consolidate STX's short-term bullish outlook.

However, if STX experiences short-term profit-taking, the price could reverse. In this scenario, the Altcoin might fall below the $0.870 support level and potentially drop to $0.778, or even touch $0.729.