The crypto market took a hit after the US Senate failed to advance the CLARITY Act regulatory bill (49-50 vote). Over $600 million was liquidated in 24 hours, driven mostly by long positions.
Here is the quick technical breakdown for top coins:
🪙 Bitcoin (BTC): Trading around $75,000–$75,500 after a 3% drop. Despite the dip, BTC maintains an underlying bullish structure as it holds above its 50-day and 200-day EMAs. Immediate Support: $75,233 | Initial Resistance: $82,850.
🥧 Pi Network (PI): Facing intense selling pressure, down 5% today following a 7% drop yesterday. The trend is strictly bearish as the price sits well below the 50, 100, and 200-day EMAs. Immediate Support: $0.0819.
💉 Injective (INJ): Hovering around $5.37 after a sharp 13% drop yesterday. However, its mid-term uptrend remains intact since it is still trading above key 50-day and 200-day EMAs. Key Barrier: $6.43.
📊 Market Sentiment: The Crypto Fear and Greed Index dropped from 71 last week down to 63, signaling a reduction in risk appetite among investors.
🔥 Bull Run or Bull Trap? Where is the Market Heading? 📈📉
The market is showing mixed signals today. While some altcoins are gaining strong volume, major assets are trading sideways in a tight range.
During these choppy conditions, patience pays off more than forcing trades. It is usually wiser to wait for a confirmed breakout rather than guessing the next move.
Are you holding $BTC, $BNB, or hunting for low-cap gems? 💎
Share your current bags and price targets in the comments! 💬👇