Total capitalization of the crypto market and Bitcoin (BTC) are breaking important barriers, driven by positive macroeconomic signs. This high momentum is also benefiting altcoins, with Story (IP) standing out as one of the biggest highs of the day, rising 45%.

In today’s news (21):

• Sam Bankman-Fried (SBF), former FTX, expects Donald Trump’s presidential forgiveness, claiming that his conviction is part of a regulatory excess against the crypto sector. However, their political donations against Trump in the 2020 election can make it difficult to obtain this forgiveness.
• Bybit CEO Ben Zhou shared a 2023 warning from Chinese authorities, classifying PI Network as a pyramid scheme that explores elderly. Despite the great airdrop of PI, the project faces strong opposition, and its possible collapse can negatively influence the position of the China about cryptocurrencies.

The crypto market is breaking barriers

The total capitalization of the crypto market has risen $ 41 billion in the last 24 hours, reaching US $ 3.18 trillion. This movement occurs after overcoming the key resistance of US $ 3.16 trillion. The market has signs of recovery, driven by broader positive financial factors, favoring additional growth in the crypto sector.

Now, Totalcap seeks to transform the $ 3.16 trillion barrier into a solid support, essential to maintaining the rise boost. If this consolidation is successful, market capitalization can reach $ 3.28 trillion. Although volatility is still present, the scenario remains optimistic with high signs.

However, if the total capitalization of the crypto market cannot keep support at $ 3.16 trillion, it could face a drop. A retreat below this level would take Totalcap back to $ 3.09 trillion, nullifying recent gains and prolonging the consolidation trend.

Bitcoin breaks resistance

Bitcoin’s price is trying to overcome resistance of $ 98,212, being traded at $ 98,148. Favorable macroeconomic conditions support the potential for new price gains. If it succeeds, Bitcoin can record a break and continue its discharge in the coming days.

Turning the resistance of $ 98,212 into support would be an important milestone for Bitcoin. Keeping above this level could trigger a break from the current two-week consolidation phase. This would pave the way for Bitcoin to target the next critical resistance by $ 100,000, increasing investor optimism.

However, if it cannot consolidate $ 98,212 as a support, Bitcoin may lose strength, entering again in the consolidation phase and possibly retreating to the $ 95,761 support. This movement would weaken the discharge perspective and could extend current stagnation by impacting short -term expectations.

Story continues to accumulate gains

The price of IP rose 45%, being negotiated at $ 4.78 after an unsuccessful attempt to break the resistance of $ 5.69. On Thursday, Altcoin reached a maximum of $ 8.99, representing a 174% increase over the previous value. Despite the strong appreciation, IP found resistance, preventing a sustained high movement.

To look for new levels, IP needs to turn $ 5.69 into support, which would enable new attempts to achieve higher prices. This consolidation would confirm the continuation of the high trend and allow Altcoin to challenge higher resistance. Maintaining this support is essential for prolonged rally.

However, if IP cannot break $ 5.69 and keep your momentum up, a drop to $ 3.23 may occur. This would invalidate the optimistic perspective, erasing recent gains and possibly leading to a prolonged period of consolidation.