Why is the crypto market on the rise today, 04/23/2025?

The total value of the cryptocurrency market (Totalcap) and Bitcoin (BTC) witnessed one of the highest highs of this month in the last 24 hours, exceeding US $ 93,000. Immutable (IMX) took first place among altcoins, with a 32%increase.

In today’s news (23):

  • Ripple has identified an attack on the portfolio -oriented supply chain defi using the NPM official XRPL.JS package. Although the extension of committed funds is not clear, Ripple has discontinued the affected packages and no significant theft has been reported in large wallets defi.
  • Jay Clayton, nominated by Trump for US Attorney at SDNY, filed a lawsuit against Ripple at SEC, although he promises to end the repressions against cryptocurrencies. His appointment raises concerns about the quality of the new political allies of cryptocurrencies, as Trump plans to use a gap to circumvent a confirmation contestation.

The cryptocurrency market jumps

The total value of the cryptocurrency market had a significant increase on Tuesday (22), totaling US $ 178 billion, reaching US $ 2.88 trillion. This rise was driven by the news of Paul Atkins’s appointment as the next president of SEC, which brought optimism to the market and helped boost the moment of the cryptors.

Totalcap remains stable above US $ 2.85 trillion support level, showing positive signs of new gains. The next goal for the cryptocurrency market value is to exceed US $ 2.93 trillion. Achieving this milestone can pave the way for a movement towards $ 3.00 trillion, reinforcing investors’ confidence.

Total Price Analysis
Total price analysis. Source: Tradingview

However, if the general market faces sales pressure, the market value of cryptocurrencies may fall below the $ 2.85 trillion support. A drop to $ 2.74 trillion would indicate a feeling of low and could slow down the rise.

Bitcoin crosses crucial barriers

Bitcoin’s price has risen 6.3% in the last 24 hours, being negotiated at $ 93,033. Altcoin is currently testing resistance at $ 93,625, marking its highest level in a month and a half. If this resistance is broken, Bitcoin may rise even more, reaching $ 95,761.

With the high -sustained impulse on the general market, Bitcoin can break the resistance of $ 93,625 and move toward the next important barrier of $ 95,761. Overcoming this resistance would successfully lead Bitcoin closer to the psychological level of $ 100,000, generating greater interest from investors and more gains for leading cryptocurrency.

BTC price analysis
BTC price analysis. Source: Tradingview

On the other hand, if Bitcoin does not exceed $ 93,625, it may be retraction, with a support of $ 89,800. The RSI is also approaching the supercomprae zone, which can signal an optimism saturation, followed by a reversal. A new drop below $ 89,800 can take the price to $ 86,822, invalidating the optimistic and potentially lengthing perspective to a longer consolidation period.

Imx em alta

The price of IMX has risen 32% in the last 24 hours, reaching $ 0.619 at the time of writing this text. Altcoin has benefited from positive market indicators, becoming the most performance cryptocurrency. This rise generated optimism among investors, further strengthening the optimistic feeling around IMX.

If the rise movement continues, IMX can rise to $ 0.721 in the coming days, recovering from the 47% March losses. A high -sustained trend that exceeds this resistance would encourage more purchases, potentially boosting Altcoin for higher price levels.

Price Analysis of IMX.
Price Analysis of IMX. Source: Tradingview

However, if the IMX cannot guarantee $ 0.601 as a support, you risk falling below this level and testing the next $ 0.480 support. If Altcoin goes beyond this critical level, it will invalidate the optimistic perspective, leading to even greater drop potential.

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