The total capitalization of the crypto market fell $ 40 billion on the last day, driven by Bitcoin (BTC), which arrived close to $ 93,500 during the minimums intradiaries. Among the altcoins, Virtual Protocol (virtual) was the worst performance, recording a drop of 14.7%.

In today’s news (19):

• SEC recognized Bitwise’s request for an ETF of XRP, after submission by Cboe Bzx Exchange last week. Although the price of XRP remains stable, rapid recognition is seen as a positive step towards a possible approval.
• Strategy (former microstrategy) announced a $ 2 billion offer in senior convertible notes to finance new Bitcoin purchases. Despite a break in acquisitions last week, Michael Saylor’s strategy is still aligned with his history of BTC accumulation.

The crypto market is still falling

Total capitalization of the crypto market fell US $ 40 billion due to lack of optimistic signs in the wider financial markets. This retraction brought totalcap to $ 3.09 trillion. Without a change in market feeling, recovery can be difficult, keeping prices under pressure.

Currently, Totalcap is trying to stay above $ 3.09 trillion support. If this support fails, the market may fall to the low or even more trend support line, potentially testing the critical level of $ 3.00 trillion. A break below this level would indicate a deeper correction in the market.

If US $ 3.09 trillion support is maintained and the total capitalization of the crypto market recovers, there is the potential to overcome resistance by $ 3.16 trillion. This would mark a recovery movement and could allow an additional advance in the market, creating more optimistic conditions in the short term.

Bitcoin reaches a minimum of several weeks

The price of Bitcoin has lost key support in the last 24 hours and is currently negotiated at $ 95,605. This fall below the $ 95,761 support signals the risk of new devaluation if it cannot recover this critical level.

On Tuesday, the BTC bodied strongly, reaching $ 93,500 during the minimum intradia before registering a slight recovery. This volatility demonstrates that Bitcoin remains vulnerable to a correction towards the next $ 93,625 support. If this level is not maintained, new falls may occur, increasing the risk of a low trend.

Recovering the $ 95,761 support is essential for Bitcoin to reverse recent losses. If this level is regained and transformed into support, the BTC may rise again towards US$ 98.212. This recovery would help to restore the momentum from high and potentially break previous resistances.

Losses from Virtual Protocol investors increase

The virtual has fallen 14.7% in the last 24 hours, becoming Altcoin with the worst performance of the day. Currently being negotiated at US $ 0.981, Altcoin shows signs of new falls. Price movement suggests potential for more devaluation unless you can maintain important support levels in the short term.

The next critical support for the virtual is $ 0.901. If the price falls below this level, losses can intensify significantly. With Altcoin already reaching its minimum of 2.5 months, losing this support would be a strong low signal, further deepening the decline.

However, if the virtual can recover from $ 0.901, it could target resistance at $ 1.30. A successful break from this level would invalidate the perspective of low, signaling a possible recovery movement. Reconquiting $ 1.30 as support would allow the virtual to recover part of its recent losses.