The cryptocurrency market expanded its valuation this Thursday (22), with total capitalization advancing 4% in the last 24 hours. Bitcoin (BTC) led the movement, reaching a new all-time high early in the day. Among the highlights, SPX6900 (SPX) stood out as the asset with the highest appreciation.
Main news today (22):
Binance listed USD1, a stablecoin pegged to the US dollar developed by World Liberty Financial (WLFI), a DeFi project supported by Donald Trump and his family. The listing boosted the trading volume of USD1, which recorded a significant double-digit increase.
Worldcoin raised $135 million through a direct purchase of WLD tokens made by a16z and Bain Capital Crypto. The investment increases the circulating supply of the asset and will be used for the company's biometric data collection in the United States. Worldcoin has already launched eye-scanning centers in six cities and plans to expand operations.
Total capitalization breaks long-term resistance
The cryptocurrency market maintained its upward trajectory, with capitalization totaling $120.49 billion in the 24-hour period.
The TOTAL indicator reached $3.43 trillion, surpassing the resistance level of $3.42 trillion — a mark not exceeded since February 1st. The breakout indicates a renewal in bullish momentum, reflecting the increase in trading volume and positive investor sentiment.
The maintenance of TOTAL above this level reinforces confidence in the market and increases the chances of appreciation. If the movement continues, the next relevant level could be $3.46 trillion.
Analysis of Total Cryptocurrency Market Capitalization. Source: TradingView
If the positive market sentiment weakens, the TOTAL may retreat and retest the newly established support level at $3.42 trillion. If it cannot maintain this level, the indicator may fall to $3.38 trillion.
Bitcoin tests new all-time high
Bitcoin (BTC) reached a new price peak, recording $111,880 during trading on this Thursday. Despite a slight correction, with the asset being traded at $110,863 at the time of this report, the buying momentum remains intense in the spot markets.
This behavior is reflected in the daily trading volume of BTC, which increased 74% in the last 24 hours, totaling $91 billion. The combination of price appreciation and increased volume indicates high investor interest and reinforces the strength of the upward trend.
If the buying flow continues, BTC may recover its all-time high of $111,880 and surpass it, opening space for new price records.
Bitcoin Price Analysis. Source:
TradingView
On the other hand, if profit-taking resumes, BTC could undergo a correction to $109,574. If the bulls cannot defend this support level, the price of the coin may drop further to $107,283.
SPX6900 (SPX) leads the list of gainers with a jump of 14%
SPX is currently trading at $0.88, recording gains of 14% in the last 24 hours. On the daily chart, the positive Balance of Power (BoP) of the token confirms strengthening buying pressure among market participants. The value is at 0.83.
The BOP indicator measures the strength of buyers relative to sellers by analyzing the relationship between the opening and closing prices of an asset over a given period. When its value is positive, buyers dominate the market.
This confirms the bullish strength of the SPX market and suggests the continuation of its upward trajectory. In this scenario, SPX could rise to $1.02.
SPX Price Analysis. Source:
TradingView
On the other hand, the token may fall below $0.84 and drop to $0.64 if bears regain control of the market.
The article Why is the crypto market rising today, 05/22/2025? was first seen on BeInCrypto Brazil.
