Analysis: Cryptocurrency market value has evaporated $610 billion so far this year, and the current key support level for BTC may be $81,600

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ChainCatcher reports that, according to Bitcoin.com, in the 89 days since entering 2025, the total value in the cryptocurrency field has shrunk by $610 billion, dropping from approximately $32,700 to $2.66 trillion.

Bitcoin's trading price is between $82,856 and $83,032, with a market capitalization of around $1.65 trillion and a global 24-hour trading volume close to $14 billion. Currently, Bitcoin shows signs of short-term consolidation. Although there is a temporary upward momentum, the trading volume pattern indicates weak buyer participation. Lower highs and lower lows suggest that the broader downward trend will continue, with the resistance level of $84,500 remaining crucial and the support level of $81,600 being critical.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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