The global cryptocurrency market cap is nearing a significant resistance level at $4.03 trillion, driven by a bullish trend of higher highs and lows since November 2022. Analyst ZYN notes that this pattern suggests a positive outlook for Bitcoin and altcoins, provided the structure remains intact. Key support levels at $3.731 trillion and $3.577 trillion have been reinforced as institutional demand zones following successful retests.
Recent market dynamics, spurred by a U.S. Federal Reserve rate cut, have led to substantial inflows into Bitcoin and Ethereum, amounting to $163 million and $213 million, respectively. The Fear and Greed Index currently reads 53, indicating a neutral market sentiment. With the market cap at $4.33 trillion, there is potential for a breakout to new highs in the $4.3 trillion to $4.5 trillion range.
Crypto Market Cap Approaches $4.03 Trillion Resistance Amid Bullish Trend
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