The crypto market is currently range-bound with the Total Crypto Market Capitalization (TOTAL) and Bitcoin (BTC) entering a consolidation phase. This loss in momentum can be attributed to the recent global political tensions which have suppressed a recovery of losses faced in the crypto market.
Currently, the TOTAL sits at $2.78 Trillion as per the 1-hour chart. With the current level, the Total Crypto Market Cap is consolidating between $2.75 Trillion and $2.82 Trillion. The range-bound movement depicts that indecision is prevalent in the market with the trade-tariffs war picking up pace between different countries.
The TOTAL faces strong resistance at $2.82T, which is acting as a key barrier for the upward momentum. If bulls manage to assert their dominance in the current market, the TOTAL could push above the resistance. Breaking above this level is crucial for the crypto market to surge towards the next resistance at $2.87T or even $.2.91T.
However, if bears get stronger the crypto market could crash further and risk breaking support at $2.75 Trillion. A break below this resistance would push the TOTAL towards the next support at $2.68 Trillion. Moving forward traders should monitor both the momentum and the volume for a trend confirmation. But until then, the market will remain in a rather neutral momentum.
Bitcoin Consolidates After Crashing Yet Again
Bitcoin as well as altcoins have faced a turbulent week with major announcements boosting crypto prices which dropped yet again. For instance, with President Donald Trump naming BTC, ETH, SOL, ADA, and XRP to be included in the U.S Federal Reserve crypto stockpile, the market rallied. BTC recovered to $87,000 level while ETH reclaimed $2,200 level.
Additionally, the announcement of the White House Crypto Summit pushed BTC to the $92,000 level. On the other hand, Ethereum graced the $2,300 level. However, BTC went into a downward spiral from Mar. 7, 2025 with the price dropping from $90,000 level to $85,000 level.
As per the 1-hour chart on TradingView, BTC is now in consolidation. The price is range-bound, fluctuating between $85,000 and $87,000. This movement depicts that neither bulls or bears have been able to assert their dominance in the crypto market conditions.
With the market in a neutral momentum, price movement outside the consolidation levels will confirm a stronger momentum. If the price of BTC manages to break out of the consolidation, it could push above resistance at $87,718. Turning this level into support with upward movement could help break the next resistance at $90,489.95 confirming a bullish rally.
Nonetheless, if the price of Bitcoin fails to breach resistance the price could dip towards the support at $84,625.84. Further drop could risk a retest of the lower support at $82,847.19. Data from Bitduc8 shows that the market is currently in fear with the Fear Index score at 24.
https://twitter.com/bitduc8/status/1898575348046156009
What To Expect in the Crypto Market This Week?
In the coming, we expect several reports and announcements to shake up the crypto market. The US CPI data release, for instance, is scheduled for release on Mar. 12, 2025. Additionally, the US PPI report will follow suit on Mar. 13, 2025. Both of these reports have sent chills across the crypto market as they can evoke massive volatility across the crypto market.
February’s CPI is expected to have climbed 0.3%, as per a poll by Reuters. The crypto market could crash in case the data depicts a surge in inflation rate. According to Bryant VanCronkhite, the senior portfolio manager at Allspring Global Investments, “a hot CPI print will likely scare the market.” He further added that “the market still wants the Fed to come to the rescue.“
As February kicked in, the US CPI release data saw the crypto market experience massive sell-off. This was as a result of the CPI report showing a higher inflation rate hence resulting in an over 3.3% crash making the crypto market dip to $3.1 Trillion. A similar scenario might occur if the upcoming CPI data release shows higher inflation rate.
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