• The crypto market cap rose by $126 billion to $3.50 trillion, aiming to hold $3.49 trillion as support for continued bullish momentum.
• Bitcoin trades at $105,174, just 4% from its $109,699 ATH. Holding $105,000 is key, while losing it could push BTC back toward $100,000.
• Onyxcoin (XCN) surged 30% to $0.0353 but must break $0.0500 resistance. Falling below $0.0237 could invalidate its bullish outlook.

The total crypto market cap (TOTAL) and Bitcoin (BTC) are recovering, with growth noted over the last 24 hours. Onyxcoin (XCN) shone among the altcoins, emerging as the best-performing asset of the day, rising by 30%.

In the news today:-

• A Spanish court is investigating Binance over alleged fund misappropriation in 2021 after a plaintiff accused the exchange of withholding €67,550. Judge María Ángeles Velázquez found sufficient grounds for a case and gave the plaintiff’s legal team 10 days to file a formal indictment.
• The SEC has formally acknowledged Canary Capital’s 19b-4 filing for a Litecoin ETF, marking the first altcoin ETF after Ethereum to reach this stage. This move sets a deadline for approval or rejection and has already triggered a price surge for LTC.

The Crypto Market Is Making Its Way Up

The total crypto market cap increased by $126 billion, currently standing at $3.50 trillion. Maintaining this level is crucial, as the market is now attempting to establish $3.49 trillion as a strong support. Holding above this threshold could help sustain bullish momentum in the coming days.

A continued rise beyond $3.49 trillion is necessary for TOTAL to push toward $3.64 trillion. Reaching this level would help the market recover recent losses and restore investor confidence. Strong buying pressure and favorable market conditions will be key to maintaining this upward trajectory.

Despite the recent gains, the crypto market cap remains vulnerable to corrections. If TOTAL falls below $3.49 trillion, bearish pressure could push it down to $3.38 trillion. This scenario would erase recent progress and signal a potential shift in market sentiment.

Bitcoin Is Continuing Its Uptrend

Bitcoin is currently trading at $105,174, maintaining its three-week-long uptrend. The cryptocurrency continues to hold above the trend line, aiming to establish $105,000 as a solid support level. If BTC sustains this position, it could strengthen bullish momentum and encourage further gains in the near term.

Bitcoin is now just 4% away from its all-time high of $109,699. Reaching this milestone would require strong backing from investors and broader market support. Increased buying pressure could push BTC beyond this key resistance level, potentially setting the stage for a new record high.

However, heightened volatility may prompt investors to secure profits, leading to increased selling pressure. If Bitcoin falls below $105,000, it could retreat toward the $100,000 level, where it has previously consolidated. This scenario would delay further gains and reintroduce short-term uncertainty.

Onyxcoin Is Noting A Sharp Rise

XCN saw a 30% price increase in the past 24 hours, now trading at $0.0353. Despite this surge, the altcoin has not yet shown significant long-term growth. While the short-term momentum is promising, it has not made a major impact on its overall price trajectory.

XCN remains far from its next resistance level at $0.0500. To reach this target, the altcoin needs consistent bullish support from the broader market and investors. Without sustained momentum, XCN may struggle to secure further gains and could face increased volatility.

However, if XCN falls toward its $0.0237 support level, its recent growth could be at risk. Losing this critical threshold may push the altcoin below support, invalidating the bullish outlook and potentially leading to extended downside movement.