Total Market Cap Recovers and Bitcoin Inches Close to $63,000

Total Market Cap Recovers

The total value of all cryptocurrencies was vulnerable to a decline below the support of $2.2 trillion. However, changing winds across the market resulted in a TOTAL recovery of 2.85%, adding more than $114 billion in a day. At present, the total market capitalization is at $2.26 trillion, exhibiting the potential to flip $2.3 trillion and $2.4 trillion in resistance into support over the month.

Bitcoin Inches Close to $63,000

Bitcoin’s price witnessed considerable growth in a single day, which was rather necessary after the cryptocurrency nearly fell below $61,000. At the time of writing, BTC is trading at $62,880, nearing the resistance at $63,720. Flipping it into support would also enable a breakout from the bullish flag pattern and result in a rise to $65,000 and beyond.

Toncoin Posts a Green Candle

Toncoin’s price action was on the rise with the broader market cues as the altcoin marked a 16.61% growth in the span of 24 hours. In doing so, TON also breached through the crucial resistance marked at $6.5 to trade at $6.7 at the moment. If the rally continues, Toncoin would be able to flip the resistance at $7 into support, provided it cements $6.5 as a support floor.

But if these conditions fail and TON falls below $6.5 again, the altcoin could note a drawdown to $6. This would result in the invalidation of the bullish thesis.