The total capitalization of the crypto market has dropped US $ 125 billion in the last 24 hours, and Bitcoin (BTC) has also lost its $ 100,000 support as macroeconomic conditions remained bassists. Among the altcoins, Lido Dao (LDO) was the worst performance of the day, falling 9%.

In today’s news (5):

• Coinbase’s legal director Paul Greeal will witness in a Congress investigation into Operation Choke Point 2.0, a controversial initiative aimed at restricting crypto business. His testimony is part of a broader effort to strengthen relations between the crypture community and the US federal government.
• SEC Commissioner, Hester Peirce, stressed that, although the commission is adjusting its approach to crypto regulation, its focus remains in the prevention of fraud. Despite the creation of a new crypto task force, Peirce stressed that the reconstruction of politics will take time and that greater regulatory clarity does not necessarily mean an endorsement to the sector.

The crypto market did not support its recovery

The total capitalization of the crypto market has dropped US $ 125 billion in the last 24 hours, being $ 3.16 trillion. The lack of recovery in the broader financial markets is preventing a reaction from the crypto sector. With still unfavorable macroeconomic conditions, the feeling of the market remains weak.

Currently, the total capitalization of the crypto market is maintaining above the support of US $ 3.16 trillion, aided by the 100 -day exponential moving average (EMA). However, if the fall continues, these support levels can be broken. This scenario could bring totalcap to lower levels, potentially testing $ 3.10 trillion in the coming days.

Recovering the $ 3.28 trillion support would invalidate the current perspective of low, paving the way for a recovery. If this support is consolidated, Totalcap could reverse recent losses and position itself for new advances. A reversal above this level would restore the positive feeling in the market.

Bitcoin continues to face difficulties

The price of Bitcoin fell 3.15%, being negotiated at $ 98,148. The main cryptocurrency has struggled to maintain a support of $ 100,000, and this continuous difficulty may indicate a price consolidation phase.

Despite recent difficulties, Bitcoin still remains over $ 95,668, offering some support for possible recovery. However, if the BTC falls below this critical level, it may face a sharper drop, testing lower supports, such as $ 93,625. This movement would reinforce a short term low perspective.

For Bitcoin to recover the high momentum, consolidating the $ 100,000 support is essential. If this happens, the BTC can target $ 105,000 or more. A movement above this key level would probably invalidate the current low feeling and place Bitcoin in a trajectory toward its historical maxim.

DAO DAO invalidates an optimistic pattern

The price of Lido Dao (LDO) has fallen 9% in the last 24 hours, being negotiated at $ 1.69 and losing crucial support of $ 1.82. This decline highlighted a challenging trend in the short term, making Altcoin one of the worst of the day.

The drop in the price of LDO has invalidated an optimistic standard of ascending triangle. The failure to break this training made Altcoin vulnerable, with the next expected support around $ 1.56. If the low momentum continues, the price may fall even more, increasing the seller pressure.

Recovering the $ 1.82 support would give LDO a chance to reverse recent losses. This would invalidate the current perspective of low, placing Altcoin in a possible recovery path towards $ 2.20, bringing a new optimism to investors and traders.