Exploring the Impact of Falling Crypto Market on Bitcoin and Altcoins
Amidst Bearish Trends
The crypto market faces a decline in values, potentially dragging down Bitcoin and altcoins. Altcoin Bittensor (TAO) hits a three-month low amidst market bearishness.
Market Developments
- BounceBit set to launch mainnet with token airdrop and Binance trading
- China's digital yuan experiences selling pressure
Total Market Cap Analysis
Total market cap aims at $2.3 trillion support, testing symmetrical triangle boundaries. Investors face a critical decision for a potential breakout towards $2.3 trillion or a drop to $2 trillion.
Bitcoin Price Stability
Bitcoin's price hovers near $61,000, with $63,700 support level crucial for recovery. Potential uptrend could counter past losses or lead to $58,000 if support fails.
Bittensor Performance
Bittensor (TAO) price falls 22% in a week, reaching $352. Market cues may drive a recovery towards $400 or further correction below key support levels.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.