After the Federal Reserve's meeting minutes released positive signals, the cryptocurrency market welcomed a rebound: total market value significantly increased, Bitcoin rebounded from the support level, and OKB soared 56% in a single day, reaching a new historical high, with market sentiment visibly improving.
The total cryptocurrency market value increased by $79 billion in one day, stabilizing at support and expected to push higher.
In the past 24 hours, the total market value of cryptocurrencies has increased by nearly $79 billion, reaching $3.82 trillion. This wave of recovery stems from the mild release of the Federal Reserve's meeting minutes, showing signs of market stabilization, and the optimistic sentiment of investors driving the rise.
Currently, the key is whether it can hold the support level of $3.81 trillion: if it holds, it is expected to further push towards $3.89 trillion, consolidating the recovery momentum.
If sentiment turns bearish, it may fall back to $3.73 trillion, erasing the daily gains. The next few days will determine the trend direction.
#Bitcoin rebounds after testing support, $115,000 becomes a key level
Bitcoin is currently priced at $113,990, rebounding after testing the support level of $112,526 for the second time this month. For BTC, recovering the support level of $115,000 is crucial: holding this level may push it towards $117,261, or even challenge $120,000; if it fails to stabilize, it may drop back to $112,526.
However, the RSI indicator reflecting market momentum is still below the neutral line, indicating that sentiment is weak, and short-term increases will depend on further improvement in overall market sentiment.
#OKB surges 56% in a single day to reach a new high, beware of profit-taking risks
Among altcoins, OKB performed remarkably, soaring 56% in the past 24 hours, hitting a historical high of $195, currently priced at $190, just a step away from the $200 mark. Technical analysis shows a continuation of the upward trend, with clear bullish signals.
However, it is important to note that short-term profit-taking may trigger a pullback: if investors focus on cashing out, OKB may drop to $120, erasing recent gains. Current attention should be on the flow of funds to assess whether the upward trend can be sustained.
