TLDR
- The crypto market cap increased $13.8 billion to $3.80 trillion, with TOTAL testing $3.81 trillion as support
- Bitcoin trades at $111,295, remaining rangebound between $110,000 and $112,500 resistance
- MYX Finance surged 284% to $13.32 after WLFI listing announcement
- Metaplanet expanded Bitcoin holdings to 20,136 BTC worth $2.07 billion
- SwissBorg suffered a $41.5 million hack targeting its Solana staking protocol
The total cryptocurrency market capitalization rose by $13.8 billion over the past 24 hours, reaching $3.80 trillion as several key developments drove investor activity. The market is currently attempting to establish $3.81 trillion as a support level, which could determine the next directional move.
Bitcoin is trading at $111,295, holding steady within a defined range between $110,000 support and $112,500 resistance. The leading cryptocurrency has shown limited momentum in recent trading sessions, with its Relative Strength Index (RSI) remaining below the neutral 50.0 line.
This technical indicator suggests Bitcoin lacks strong bullish momentum at present, potentially keeping the asset range-bound until a clear breakout occurs. Traders are watching closely for any signs that might trigger a move beyond current resistance levels.
If Bitcoin can break above $112,500 and flip this level to support, it could pave the way for a push toward $115,000. Such a move would invalidate the current bearish-neutral outlook and potentially reignite momentum for BTC.
MYX Finance Leads Market Gains
While Bitcoin trades sideways, MYX Finance has become the market’s focal point after an explosive rally. The native token of MYX Exchange surged following Friday’s announcement that World Liberty Financial (WLFI), a token connected to Donald Trump, would officially list on the platform.
Within 24 hours, MYX price skyrocketed nearly 284%, reaching $13.32 and establishing a new all-time high at $14.89. The token continues to hold above the $11.52 support level, which has become critical for sustaining its recent momentum.
However, traders should note that aggressive profit-taking could push MYX below this support. If this occurs, the price might establish a new base closer to $3.45, which would weaken the current bullish outlook.
The artificial intelligence sector also contributed to today’s market gains, with AI-related tokens posting collective gains exceeding 14% in the past 24 hours. Worldcoin emerged as a standout performer with a 55% increase following major reserve announcements.
Institutional Activity and Market Structure
Corporate Bitcoin adoption continues to expand, with Metaplanet and Convano increasing their holdings. Metaplanet now owns 20,136 BTC worth approximately $2.07 billion, highlighting Japan’s corporate strategy to hedge against yen weakness and monetary policy uncertainty.
This institutional activity provides structural support for the broader market, demonstrating continued confidence in cryptocurrency as a long-term store of value. The sustained inflows into Bitcoin spot exchange-traded funds further reinforce this trend.
Ethereum maintains stability within its $4,300-$4,500 accumulation range. This price consolidation has prompted some analysts to suggest that conditions may be developing for a potential altcoin rally in the near term.
The market faced negative news with SwissBorg experiencing a $41.5 million security breach. The hack targeted the platform’s Solana staking protocol through a partner API vulnerability, though the company stated losses were limited to this service and pledged partial refunds to affected users.
If the total crypto market cap successfully holds $3.81 trillion as support, it could rise toward $3.89 trillion in coming days. This move would be essential for broader market recovery and help investors recoup recent losses.
