The crypto market is falling today, with the total crypto market cap falling by $99 billion in the last 24 hours, bringing its value to $2.82 trillion. This drop happened after an unsuccessful attempt to break through the $2.93 trillion barrier. The market dropped sharply, mainly due to concerns over Trump’s tariff war, which hurt overall market sentiment.
Right now, the total value of the crypto market is still above the $2.75 trillion support level. But the bearish mood is still there, and if global tensions keep rising, it could lead to more drops, possibly down to the $2.63 trillion support level. This would make recent losses even worse and make investors even less confident.
Even though the market is currently going down, a change in the way markets work in general could mean that the crypto market is about to recover. If the TOTAL market cap surpasses the $2.93 trillion barrier, it may reverse the bearish trend and aim to pass $3.00 trillion. This would indicate that the current bearish perspective is incorrect and might initiate a rally.
Bitcoin Can’t Hold Support
Bitcoin’s price has fallen by 4% today, now at $87,004, struggling to stay above its crucial support level of $87,041. The intraday low of $84,667, indicates that the market overall has been extremely bearish. The continuous fluctuations in the market has a significant impact on the price change of Bitcoin, making recovery difficult.
If Bitcoin reclaims $87,041 as support, it could stabilize and start recovering. What could happen, though, is that Bitcoin could fall even further below this important support, and it could fall to $85,000 or below. This would make people even more pessimistic and make the current downtrend last longer.
To show that the bearish view is wrong, Bitcoin needs to take back the $89,800 support level, which it failed to do today. If this level can be turned into support, Bitcoin’s price could go up to $93,625. If the price goes up after this point, it means that the trend is now going up.
Ondo Faces Big Loss
In the past 24 hours, the price of ONDO has dropped by 8.6%, hitting a low point below $1.10 and now trading at $1.02. Currently, ONDO is the worst-performing asset of the day, but based on market sentiment, further declines seem unlikely for now. Based on the market’s current sentiment no significant drop is expected soon.
Because of the way the market is right now, ONDO is likely to stay between $1.10 and $0.96. This price range has worked well in the past. A big drop in price doesn’t look likely, but ONDO’s performance will depend a lot on how the market feels and what investors do in the next few days.
If the support level of $1.10 is successfully reclaimed, ONDO could go up to $1.27. If this resistance is broken along with the 50-day and 200-day EMAs, it could mean a change in momentum and show that the current bearish outlook is wrong, opening the door for more upside potential.
We might see a bounce-back if the market can recover and surpass important resistance thresholds. But for now, investors are on great alert and closely monitor how global events shape the market.
