Total capitalization of the crypto (total) market and bitcoin (BTC) are stabilizing despite a slight drop in the last 24 hours. Altcoins also recorded small daily losses, with story (IP) being the most affected, falling 8%.

Today’s news (14) about cryptocurrencies:

• SEC is considering reclassifying XRP as a commodity, similar to what happened with ETH in the past. In addition, Vermont regulators withdrew the lawsuit against coinbase, citing SEC’s new crypto task force, which can benefit Ripple.
• The Arena Party, the main opposition in El Salvador, criticized President Bukele for an agreement with the IMF, warning that his insistence on continuing to buy Bitcoin can compromise the country’s economic stability. However, Arena’s recent electoral defeats limit their influence on Bukele’s decisions.

The crypto market remains above critical support

The total capitalization of the cryptocurrency market has dropped US $ 40 billion in the last 24 hours, with US $ 2.63 trillion. This brings the market closer to critical support of $ 2.58 trillion, and it is essential to maintain this level for any recovery.

If macroeconomic conditions improve and investors’ feelings change, the total can recover. A movement above $ 2.75 trillion would signal a possible resumption, but would require strong investors support to keep the impulse high. This would help restore confidence in the market.

However, if total capitalization loses the $ 2.58 trillion support, the market may fall even more, reaching US $ 2.50 trillion. This scenario would prolong the losses, making it difficult to recover rapidly.

Bitcoin has not yet broken resistance

Bitcoin has not been able to exceed $ 85,000 in the last 24 hours, reaching a minimum of $ 80,000 during the day. However, the BTC has recovered slightly and is being negotiated at $ 81,978, still under pressure.

To recover market confidence, Bitcoin needs to turn $ 82,761 into support and then break the $ 85,000 barrier. If you get this break, the price can rise to $ 87,041, boosting investors’ positive feeling.

On the other hand, if Bitcoin cannot exceed $ 82,761, it can continue to consolidate over $ 80,000. If you lose this support, the BTC can fall to $ 76,741, extending losses and making it difficult to recover in the short term.

Story falls, but finds support

IP has dropped 8% in the last 24 hours, being negotiated at $ 5.78, still above the $ 5.71 support. Despite the recent drop, Altcoin shows potential recovery. Maintaining this support can be critical to a possible positive reversal.

The main target of IP is $ 7.07. If this resistance breaks, Altcoin can approach its historical maxim of $ 8.99. However, this will depend on the trust of investors and the absence of seller pressure.

If IP cannot break $ 7.07, it can continue to consolidate between this resistance and the $ 5.71 support, which would delay a more significant recovery.