The
The crypto market started the week with sideways trading. But now, it’s facing real pressure. The total cap tried to break $2.37 trillion but failed again. This resistance has held for weeks. It shows weak buying power from investors.
Bitcoin and Ethereum lead the decline. Altcoins follow suit. Low liquidity and scared investors are key reasons for the
Investors are playing it safe. They wait for clearer signals from the wider economy.
Bitcoin can’t break free. It’s traded below $70,000 for 10 straight days. This round number acts like a wall. Traders sell when it gets close, taking profits.
The Chaikin Money Flow (CMF) indicator is negative. It’s below zero. This means money is flowing out of Bitcoin. Weak buying keeps upside limited.
If selling grows, Bitcoin could drop to $65,000 support. But a strong push above $70K changes everything. It could hit $72,294 first, then $75,000. Spot buys and futures interest would fuel that rally.
Dogecoin dropped 7.5% in 24 hours. It hit resistance at $0.1107, then fell below $0.1028 support. Broader market fear hurt the meme coin king.
Good news? The Money Flow Index (MFI) is still positive. Buyers are around. If they step in, Dogecoin could bounce to $0.1172, even $0.1280.
Bad scenario: More selling sends it to $0.0966, or lower to $0.0883. Market mood will decide.
Some stories add context to the
MicroStrategy plans to turn $6 billion in debt into shares. This cuts debt but may dilute shareholders. Their $49 billion Bitcoin stash is safe even if BTC falls to $8,000. It’s a vote of confidence in Bitcoin long-term.
Apollo Global Management teams up with Morpho. They’ll buy up to 90 million MORPHO tokens (9% supply) over 4 years. This boosts Morpho’s lending platform. DeFi gets big money backing, but it hasn’t lifted the market yet.
These moves are positive. Yet, short-term traders focus on price action over news.
Why the
No big catalysts like ETF approvals or rate cuts. Market consolidates.
Bear case: Pressure builds. Total cap tests $2.30T. BTC eyes $65K. DOGE could sink further if fear spreads.
Bull case: Inflows return. Break $2.37T sends total cap to $2.45T. BTC blasts to $75K. DOGE recovers fast on hype.
Watch these levels:
| Asset | Key Support | Key Resistance |
|---|---|---|
| Total Cap | $2.30T | $2.37T |
| Bitcoin | $65,000 | $70,000 |
| Dogecoin | $0.0966 | $0.1172 |
Institutional money and sentiment shifts could spark a turnaround. Stay tuned.
The
Markets cycle. This dip could be a buy chance for patient holders. Track volume and macro news closely. What’s your take on this
Prices as of writing. Crypto is volatile—DYOR.
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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
The post Why the Crypto Market is Down Today: Bitcoin Stalls Below $70K as Total Cap Dips to $2.33T appeared first on Blockmanity.
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