• The crypto market cap dipped, unable to breach $2.40 trillion, facing potential support at $2.29 trillion amid cautious sentiment.
• Bitcoin pauses near ATH at $73,800; a further dip to $71,367 could delay a new high, though investor optimism may sustain the uptrend.
• Celestia fell 11%, losing $4.96 support; holding $4.52 is key, with a breach risking a drop to $3.88 and deepening the bearish outlook.

The total crypto market cap (TOTAL) and Bitcoin (BTC) both fail to breach their respective key barriers. Amidst the uncertainity, Celestia (TIA) followed the emerging bearish cues, falling by nearly 11% in the last 24 hours.

In the news today:

• Canary Capital has filed for a spot in Solana ETF with the US SEC, aiming to provide investors with easy access to Solana via traditional brokerage accounts. This follows similar filings by VanEck and 21Shares.
• MicroStrategy, led by Michael Saylor, has unveiled a $42 billion plan to expand its Bitcoin holdings, adding to its existing 252,220 BTC. The company aims to capitalize on Bitcoin’s continued growth.

The Crypto Market Pauses Rise

The total crypto market cap experienced a slight decline over the past 24 hours, as TOTAL failed to break through the $2.40 trillion resistance. This level has proven challenging, dampening short-term bullish enthusiasm and prompting cautious investor sentiment.

While bullish momentum isn’t entirely lost, persistent bearish pressure could push TOTAL down to $2.29 trillion. This support level would be crucial for maintaining market stability, though the decline could signal a temporary setback in the broader uptrend.

If bullish momentum resumes, TOTAL could move beyond $2.40 trillion, reestablishing the uptrend. Surpassing this resistance would strengthen market confidence and potentially attract renewed investor interest across digital assets.

Bitcoin Is Taking a Short Break

Bitcoin’s price is approaching its all-time high of $73,800 but is currently experiencing a slight correction, trading at $72,302. The current level remains pivotal for BTC’s near-term outlook.

Should the drawdown continue, Bitcoin may drop to the critical support floor of $71,367. If this level is breached, BTC could fall further, potentially dropping below the $70,000 mark. Such a decline would signal caution among traders and could delay a new high.

If investors stay optimistic and maintain their positions, Bitcoin could surpass its ATH of $73,800. Breaking through this resistance would mark a significant milestone, pushing BTC further into bullish territory and reinforcing market confidence.

Celestia Takes a Hit

Celestia’s price dropped by nearly 11% in the past 24 hours, now trading at $4.69. The altcoin recently lost the $4.96 support level and is trending toward $4.52, reflecting increased bearish momentum in the market.

Historically, the $4.52 level has served as a strong support floor for TIA, offering potential stability during downturns. If this support holds, it could cushion Celestia’s decline and provide a chance for investors to regain confidence, reducing the risk of further losses.

However, if the $4.52 support is breached, Celestia might slide to $3.88, marking a one-and-a-half-month low. This drawdown could delay any potential recovery, as it would signal a deeper bearish outlook for the altcoin.