In short
The total market cap of cryptocurrencies soared by $104 billion in 24 hours, reaching $3.81 trillion, with $3.73 trillion currently acting as strong support.
Bitcoin (BTC) has recovered to $115,000, rising to $116,584, driven by a 20% increase in trading volume, signaling a strong bullish trend.
PENDLE rose 27% to $5.11 and may potentially rise further to $5.88 as its RSI indicates there is still room for upward movement before entering the overbought region.
As overall market sentiment gradually rebounds from panic, both the total market cap of cryptocurrencies (TOTAL) and Bitcoin (BTC) have risen. PENDLE has emerged as the best-performing altcoin, achieving double-digit gains in the past 24 hours.
Today's news is:
Ripple Labs and the U.S. Securities and Exchange Commission ended their legal dispute after withdrawing the appeal in the Second Circuit Court.
President Trump signed two executive orders aimed at promoting cryptocurrency adoption—one aimed at preventing disbanking and the other allowing crypto assets to be included in retirement portfolios, which could stimulate more institutional investment.
The cryptocurrency market has increased by $104 billion in 24 hours, breaking through resistance and turning it into support.
The increase in trading activity has injected new momentum into the cryptocurrency market, with a total market cap increase of $104 billion in the past 24 hours. As of the time of writing, the total market cap of the cryptocurrency market has reached $3.81 trillion, converting the previous resistance level of $3.73 trillion into solid support.
Total's stock price has steadily risen over the past two trading days, clearly breaking above the 20-day exponential moving average (EMA), indicating an enhancement in bullish sentiment. This key moving average forms dynamic support below Total's stock price at the level of $3.73 trillion, providing strong support against significant pullbacks.
If buying pressure continues, Total's stock price may continue to rise to $3.87 trillion.
However, the reversal of market sentiment and renewed weakness in demand for digital assets may lead to a re-test of the $3.73 trillion market cap for Total. If it fails to hold, its market cap could further decline to $3.57 trillion.
Bitcoin trading volume surged 20%, recovering to $115,000.
BTC price rose 2% in the past day, climbing back above $115,000. As of this writing, the leading digital asset is trading at $116,580, with trading volume significantly increasing in the past 24 hours. As of the time of writing, BTC trading volume has reached $67 billion, growing nearly 20% in the past 24 hours.
The simultaneous surge in BTC price and trading volume reflects a continuous increase in market confidence. This indicates that the price increase is strongly supported by traders and investors, making this trend more sustainable than a slight rise.
If this trend continues, BTC may extend its rally in the coming trading days, rising to $118,922.
However, if bullish sentiment wanes and selling pressure resurfaces, its price may retreat to $115,764, testing recent support levels.
PENDLE has risen to $5.11—can it next rise to $5.88?
PENDLE is today's biggest gainer, soaring 27% in the past day. As of the time of writing, this altcoin's trading price is $5.12, reaching an eight-month high.
On the daily chart, the relative strength index (RSI) of this token continues to rise, reflecting demand that has driven it to achieve double-digit gains. As of the time of writing, the index stands at 66.97 and is still rising.
The RSI indicator measures the overbought and oversold market conditions of an asset. Its value ranges from 0 to 100. A value above 70 indicates that the asset is overbought and the price is likely to fall; a value below 30 indicates that the asset is oversold and the price may rebound.
The RSI of PENDLE is 66.97, indicating that this altcoin still has room for further upside before entering the overbought zone. If buying pressure continues, this token may rise to $5.88.
On the other hand, if profit-taking occurs, PENDLE's stock price may retreat to $4.48.
