Total capitalization of the Crypto Market (Totalcap) has remained down in the last 24 hours, while Bitcoin (BTC) is being negotiated over $ 97,300, still far from the next resistance. Pudgy Penguins (Pengu) was affected by low conditions, falling 10% and becoming the active with worst performance of the day.

In today’s news (6):

• Microstrategy was renamed as Strategy, incorporating the bitcoin symbol into its new logo. The financial results of the fourth quarter of 2024 reveal $ 20 billion in BTC acquisitions, reinforcing the company’s focus on Bitcoin’s future.
• Blackrock plans to list a Bitcoin ETF in Europe, probably launched in Switzerland, marking its first offer outside North America.

The crypto market is falling

Total capitalization of the crypto market has fallen slightly in the last 24 hours, being $ 3.15 trillion. After losing support of US $ 3.16 trillion, Totalcap tested a support of US $ 3.10 trillion during the minimums intrades.

However, Totalcap is still remaining above the low trend line that has been active since December 2024. This support line has been tested several times this year. If it is broken and the market falls below $ 3.10 trillion, new losses may occur.

On the other hand, recovering 3.16 trillion support can boost the total capitalization of the crypto market to 3.28 trillion. Consolidating this support level can lead to a higher high by invalidating the low thesis.

Bitcoin needs more impulse

The price of Bitcoin is remaining above critical support of 95,668, signaling possible recovery after recent losses. Maintaining this support is essential to avoid new falls. If the trend of low persists, the BTC can break this level, increasing the sales pressure and prolonging the short -term losses.

Currently being negotiated at 97,338, Bitcoin faces the risk of falling to 93,625 if the low momentum intensifies. The relative force index (RSI) indicates a strong feeling of low, making recovery more challenging.

Recovering 100,000 support can rekindle investors’ confidence and boost momentum high. This movement would help to compensate for recent losses and possibly attract a new buyer interest. Market participants remain cautious but optimistic, as breaking this psychological barrier can pave the way for a high sustained movement in Bitcoin’s price trajectory.

Pudgy Penguins Suffer

Pengu has dropped 11% in the last 24 hours, being negotiated at 0.0117. Altcoin is approaching its historic minimum of 0.0094, raising concerns among investors. Market volatility and low feeling are contributing to the fall.

If Pengu reaches its historical minimum and the sales pressure continues, it can break this level and set a new low record. This movement would probably trigger an increase in sales activity, further aggravating losses.

Breaking the resistance of 0.0147 and converting it into support can invalidate the low perspective. This would signal a possible recovery, helping Pengu recover part of the lost value. Achieving this milestone could restore investors’ trust and make way for a rise movement, offering a chance to reverse recent losses.