Market Overview
The total cryptocurrency market cap is currently at $2.1 trillion, up over $73 billion in the last 24 hours. The market is likely to break the $2.11 trillion resistance level. This could lead to a surge to $2.2 trillion. However, if the market fails to break this level, it could continue to consolidate between $2.11 trillion and $2 trillion.
The evolution of Bitcoin
Bitcoin The crucial $60,000 level has been reclaimed, which is a positive sign for a sustained recovery. To maintain this momentum, BTC needs to secure this level as support. It could also push towards $63,100, and possibly $65,000. However, if Bitcoin fails to hold above $60,000, a pullback to $58,000 could invalidate the bullish outlook.
AAVE’s Breakthrough Potential
AAVE has seen significant gains, rising 14.5% over the past day to $127. The altcoin is approaching the crucial $129 level, which could see a 30% rally to $167. However, profit-taking is likely to occur, causing AAVE to fall back to $116 before further gains are realized.
In other news
- Kamala Harris is considering nominating SEC Chairman Gary Gensler to be Treasury secretary if she wins the upcoming election.
- SolanaDEX-based Mango Markets is voting on a $223,228 settlement with the SEC, which could end the investigation into an abuse incident that occurred in October 2022.
These developments demonstrate the dynamic nature of the cryptocurrency market as it continually evolves and responds to market forces and regulatory news.