Total capitalization of the Crypto Market (Totalcap) and Bitcoin have faced low pressure in the last 24 hours, losing important support levels. Among Altcoins, Onyxcoin (XCN) recorded the largest fall, falling more than 10%. This liquidation highlights continuous challenges in the crypto market as a whole.

In today’s news (12):

• BNB Chain released its technological roadmap to 2025, focusing on reducing transactions latency and the ability to process 100 million daily transactions. The plan prioritizes artificial intelligence-based solutions, adopting an AI-First approach to improve developer speed, scalability and tools.
• SEC has opened a period of public comments for Canary Solana Trust ETF, as well as similar requests from Vaneck, 21shares and Bitwise. Analysts believe that 2024 can mark the approval of Solana ETFs and other altcoins, although delays are common in the regulatory process.

The Crypto Market retreats

The Crypto market has recorded a significant drop, losing $ 53 billion in the last 24 hours. Total market capitalization is now $ 3.08 trillion, being below the key support of US $ 3.09 trillion. This loss reflects the feeling of persistent low in the cryptocurrency sector.

The next critical support for total market capitalization is $ 3.00 trillion. Although a drop for this level is possible, it is not the most likely scenario, considering the volatility of the general conditions of the market. Recent price movements suggest that the market can stabilize before testing lower levels.

If US $ 3.09 trillion support is recovered, the total capitalization of the crypto market can try a recovery, targeting US $ 3.16 trillion. Recovering this support would provide a base for a possible ascending movement, signaling a more positive market feeling and the chance of recovering previous gains.

Bitcoin reaches minimum monthly

The price of Bitcoin fell, being negotiated currently at $ 95,489 after losing the support of $ 95,869. This decline marks a change in momentum, indicating possible weakness in the market.

The fall occurred after Bitcoin hovered above the $ 95,869 support over the past week. If the low trend continues, the BTC may fall even longer to $ 93,625. This level represents a critical support, and a break could indicate more significant losses for the main cryptocurrency.

Recover the $ 95,869 support to BTC the chance to reverse your recent losses. A successful leap from this level could make way for Bitcoin to target $ 100,000, invalidating the outlook and signaling a new optimistic boost in the market.

Onyxcoin records losses

XCN was the worst performance of the day, falling just over 10% in the last 24 hours. However, it managed to stay above critical support of $ 0.0184. Altcoin’s ability to support this level provides some hope for possible recovery in the short term.

During Wednesday’s intra-media negotiations, XCN had a slight recovery of 5%, which can help avoid a sharper drop. However, if the $ 0.0184 support is broken, Altcoin can retreat to $ 0.0160 or even lower levels.

However, if the XCN can break the resistance of $ 0.0237 and turn it into support, the low perspective will be invalidated. In addition, it would make room for additional growth and more solid recovery, allowing Altcoin to start moving toward higher price levels, potentially starting a more sustained high trend.