The total cryptocurrency market cap is around $1 trillion, according to CoinMarketCap data. It is considered very important that the total market value remains above 1 trillion dollars.
Over 12% gain in the last 1 month
While the Bitcoin price has retreated by approximately 3.6% in the last 24 hours, we see that Bitcoin (BTC) changed hands at $ 22,964 at the time of writing. Continuing to progress with a market value of 438.5 billion dollars, Bitcoin (BTC) has gained over 12% in the last 1 month.
Leading cryptocurrency Bitcoin (BTC) stuck in a range
Bitcoin (BTC) is stuck in the range of $24,688 to $22,380 and has been trading between these two levels for a while. Between these two levels, the $23,000 and $24,000 levels are thought to be very important, according to analysts, and the leading cryptocurrency is currently trading below both these levels.
If Bitcoin (BTC) rises above $23,000 again
If Bitcoin (BTC) sinks below $22,380, initial support could be $22,000. Below $22,000, $20,705 is the first strong support. In addition, the rise of Bitcoin (BTC) again above $ 23,000 may bring the test of $ 23,750 and then $ 24,000. Therefore, which direction Bitcoin (BTC) will move at the moment can shape short-term expectations. According to some analysts, this downward adventure in Bitcoin may have ended. The cessation of increases in inflation rates may enable cryptocurrencies to rise again.
Latest Situation in Altcoins
Looking at the top ten cryptocurrencies in terms of market capitalization, we see that Solana (SOL) recorded the biggest decline in the last 24 hours with 6.6%. SOL is followed by Ethereum (ETH), the largest altcoin by market cap, with 5.25%. Ethereum (ETH) still draws attention with its 47% increase in the last 1 month.