The total crypto market cap (TOTAL) and Bitcoin (BTC) are observing a slight rise over the past day, keeping the momentum consistent. The trajectory of altcoins is taking shape after this momentum, albeit surpassing it, with the likes of Audiera (BEAT) marking a 69% rise.
In the news today:-
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- Uniswap’s UNIfication fee switch proposal has surpassed the required vote threshold and is set to go live later this week. The upgrade will activate protocol fees, burn 100 million UNI tokens, and introduce incentives to boost liquidity provider returns.
- A power outage caused by a PG&E substation fire left 130,000 San Francisco customers without electricity, cutting access to crypto wallets and exchanges. The incident underscored how crypto usability still depends on local power and internet infrastructure despite blockchain decentralization.
Crypto Market Shows Signs of Stabilization
The total crypto market capitalization is currently at $2.98 trillion, up $16 billion over the last 24 hours. This upward move points to a potential short-term stabilization. If buying momentum continues, Bitcoin could experience limited gains in the near term.
For a more sustained recovery, the market cap needs to reclaim $3.00 trillion as a solid support level. A decisive move above this psychological threshold would likely boost investor confidence and draw in new capital.
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However, if the recovery loses strength, downside risks remain. The market could retreat toward $2.92 trillion, with $2.85 trillion serving as the next key support level.
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Bitcoin Targets the Next Key Resistance
Bitcoin is currently trading at $88,846, maintaining its position above the $88,210 resistance level. This area previously capped upward movement earlier in the month, and turning it into support indicates near-term stability.
To offset recent declines, Bitcoin needs to push toward the $90,308 resistance level. A confirmed breakout above this price could strengthen investor sentiment and point to renewed bullish momentum.
On the downside, if buying pressure weakens, Bitcoin could slip below $88,210. A clear break beneath this level would put $86,361 in focus as the next downside target, and losing both supports could intensify bearish pressure.
Audiera Takes The Lead
BEAT surged 69% in the past 24 hours, lifting the price to $4.07 at the time of writing. The rally produced a new intraday all-time high. Strong demand and aggressive momentum highlight heightened speculative interest as traders react to rapid price expansion.
Technical indicators support further upside. The Parabolic SAR confirms an active uptrend, signaling buyer control. If momentum holds, BEAT could surpass the $4.30 all-time high. Continued strength may drive the token toward the $5.00 level in the near term.
Downside risk remains elevated after sharp gains. Selling pressure could reverse momentum quickly. A drop below the $3.09 support would weaken the structure. Further losses may push BEAT toward $2.05, invalidating the bullish thesis and erasing a large portion of recent gains.
