The market cap of cryptocurrencies has dropped by $10 billion, and the total market cap has fallen below the resistance level of $2.08 trillion.
Bitcoin is consolidating, and attention is focused on the $58,487 level. If the bulls fail to defend this price level, it could lead to a decline.ResistanceIf the bulls fail to defend this price level, it could lead to a decline.
The AI Super Alliance has fallen by 6%, offsetting the gains from the AI market hype.
The slight decline in market activity has resulted in a drop in the total market cap (TOTAL) and Bitcoin value in the past 24 hours. After a brief surge in the value of AI assets, the AI Super AI Alliance is now the biggest loser in the past 24 hours.
Total has closed below the resistance level for Dow Jones this week.
In the past 24 hours, the total market cap of cryptocurrencies has dropped by $10 billion. The current total market cap is $1.99 trillion, slightly below the resistance level of $2.08 trillion. Over the past month, this resistance level has been tested multiple times, but the total market cap has only successfully broken through twice.
Due to low trading volume, the cryptocurrency market usually experiences a decline on weekends. Therefore, TOTAL may further decline. If trading activity significantly decreases in the next two days, it could fall to $1.91 trillion.
If the market loses this key support level, it could experience a significant drop to $1.69 trillion, which would be the lowest level since August 5th (over $1 billion evaporated).
Bitcoin traders are observing off-exchange.
In the past few days, the Bitcoin market has shown relatively balanced buying and selling pressure. This indicates a consolidation period, with asset prices moving sideways without strong upward or downward trends.
From the daily chart, it appears flat.Relative Strength Index ( RSI ) Clearly reflects this point.
Currently, the target of this leading token is to break through the support level of $58,487. If successful, the upward trend will be confirmed and the price will rise to $61,391.
However, if this attempt fails, any chances of a bullish outcome will be invalidated and BTC may further decline below $54,000.
AI Super Alliance stock price retraces recent gains.
On Thursday, there were reports that OpenAI is seeking to raise $6.5 billion in new equity financing, leading to a significant increase in the prices of AI-related cryptocurrencies. The price of the AI Super Alliance (FET) rose by 10% on that day. However, it turned out that this surge was short-lived.
The FET trading price is $1.34, and its value has decreased by 6% in the past 24 hours. The trading price is very close to the resistance level of $1.35, which usually exerts significant selling pressure. If the attempt to break through this level fails, the price of FET may drop to $0.70.