- Crypto market is showing a 2.7% increase, reaching a total market cap of $2.29 trillion.
- Bitcoin is currently priced at $62,700, while Ethereum is trading at $3,950.
- Total liquidations amounted to $143 million, with bears losing slightly more than bulls ($82 million vs $62 million).
- Bitcoin has bounced back from the $60,000 zone but needs to surpass $65,500 for a confirmed bull run.
- Ethereum is maintaining support above the critical $2,800-$2,900 level; a break below this could trigger a decline to $2,450.
- PEPE has achieved a new all-time high, and ORDI might be on the verge of a rebound and recovery phase.
The cryptocurrency market has shown significant improvement compared to the start of the week, with a 2.7% increase in total market capitalization, now reaching a figure of $2.29 trillion.
Bitcoin is currently trading around $62,700, while Ethereum sits at $3,950, attempting to reclaim the $3,000 zone.
The crypto market's heatmap reflects this positive movement.
The liquidation score between bulls and bears is evening out, as illustrated by Coinglass data. Over the past day, leveraged traders experienced approximately $143 million in liquidations.
The breakdown of liquidations shows that bullish liquidations amounted to around $62 million, while bearish liquidations were slightly higher at $82 million.
Today, the crypto market appears to be transitioning from the control of bears to bulls, with bulls now striving to maintain this newfound dominance.
Bitcoin's ongoing rebound is evident from its price action chart, rebounding from the $60,000 zone. Bitcoin's daily RSI is approaching the neutral point, indicating strengthening bullish sentiment, although further confirmation is needed with a new high above $65,500.
Ethereum has been defended well by bulls above the $2,900 - $2,800 range, currently trading around $2,891. The outlook remains positive as long as Ethereum maintains above this support level; however, a break below $2,800 could lead to a drop towards $2,450.
PEPE has reached a new all-time high, hitting resistance at $0.00001113, but faced bearish pressure at this level. A decisive break above $0.00001113 could propel PEPE towards the next resistance at $0.00001140.
ORDI is trading above an ascending trendline and seems poised for a recovery, consolidating below the $38.68 resistance. A rebound from the $37 level could result in a significant rally towards the previous high of $97, representing a potential increase of 165%.
Disclaimer: Voice of Crypto aims to provide accurate information, but cannot guarantee completeness or accuracy. Cryptocurrencies are highly volatile assets; readers are advised to conduct their own research and make informed financial decisions.
