The total value of the cryptocurrency market (TOTAL) made history today, surpassing the $4 trillion mark, with Bitcoin (BTC) breaking the $122,000 resistance for the first time in a month. Lido Dao (LDO) emerges as the best-performing altcoin, with a 10% appreciation in 24 hours.
In today's news (11):
The LayerZero Foundation proposed the acquisition of $110 million from the Stargate cross-chain bridge and the STG tokens, aiming to integrate them into its ecosystem and transition governance to ZRO tokens. This initiative is expected to enhance Stargate's roadmap and influence cross-chain transaction dynamics and token valuations.
Bo Hines, executive director of the White House Cryptocurrency Council, announced his resignation on Saturday to return to the private sector. He expressed gratitude for the strong support from the crypto community since his appointment in December 2024.
The cryptocurrency market is making history
The total value of the cryptocurrency market soared by $122 billion in just 24 hours, reflecting the market's upward trend. With TOTAL reaching an impressive $4 trillion, optimism in the cryptocurrency market continues to gain strength.
Currently, the TOTAL stands at $3.99 trillion, supported by the $3.94 trillion level. To maintain its upward trajectory, the market needs to consolidate $4.00 trillion as a strong support zone. A successful claim of this level could further boost growth and stability.
Analysis of Total Cryptocurrency Market Capitalization. Source: TradingView
However, the market remains volatile. If a wave of selling takes over, TOTAL could fall below the critical mark of $3.94 trillion. This drop could negate recent gains, bringing the market value down to $3.89 trillion.
Bitcoin is approaching its ATH
The price of Bitcoin rose 4.59%, briefly surpassing $122,000. This impressive gain highlights Bitcoin's strong bullish momentum. With this rise, Bitcoin positioned itself near important resistance levels.
Bitcoin is approaching its all-time high (ATH) of $123,218, marking a monthly peak. If the current bullish momentum persists, Bitcoin could surpass this barrier and establish a new ATH. Continued positive market sentiment and growing adoption are expected to drive this momentum.
Bitcoin Price Analysis. Source: TradingView
However, Bitcoin faces potential risks if there are outflows from institutional or retail investors. A loss of support below $120,000 could trigger a price correction, undermining the current optimistic outlook.
Lido DAO is hitting a 5-month high
Lido DAO (LDO) saw a significant increase of 11% in the last 24 hours, becoming the day's best-performing asset. At the time this article was written, LDO was struggling to break the $1.56 resistance.
The 50-day and 200-day exponential moving averages (EMAs) are approaching a Golden Cross, a bullish market signal. As the 50-day EMA crosses above the 200-day EMA, it is likely to propel LDO above $1.56, targeting the next resistance at $1.82. This signals strong momentum for LDO's price growth.
LDO Price Analysis. Source: TradingView
However, if the price of Bitcoin falls below the $1.34 support, it could reverse LDO's recent gains. Such a move would invalidate the optimistic outlook, pushing LDO down to $1.18.
The article Why is the cryptocurrency market rising today 11/08/2025? was first seen on BeInCrypto Brazil.
