Crypto Market Adds ₱1.85 trillion ($32 billion) as Bitcoin Holds Above $65,000
Bitcoin consolidates within a $5,000 range after three weeks of trading between $65,000 and $70,000, while the broader crypto market cap jumped to ₱129.35 trillion ($2.24 trillion). MORPHO surged 12% to $1.76 as traders await a catalyst for the next directional move.
Key Takeaway
Bitcoin's three-week consolidation suggests traders are waiting for a catalyst to break the $65,000-$70,000 range.
Total crypto market cap jumped ₱1.85 trillion ($32 billion) in the past 24 hours to reach ₱129.35 trillion ($2.24 trillion).
Bitcoin continues ranging between $65,000 and $70,000 for nearly three weeks. The leading cryptocurrency traded at $65,604 at time of writing, with key support holding at $62,893. The next resistance sits at $67,674, while a deeper pullback could test $60,860.
The broader market needs to break above $2.30 trillion to confirm bullish momentum. That resistance level marks the next decisive barrier for total crypto market cap. If the rally stalls, the market could retreat to support at $2.13 trillion.
MORPHO stood out as one of the session's top performers, surging 12% to $1.76. The token faces immediate resistance at $1.84, with a short-term target of $2.05 if buying pressure continues. Support levels sit at $1.50 and $1.29 in case of profit-taking.
Bitcoin's consolidation pattern reflects uncertainty as traders wait for a catalyst to push prices out of the current range. A decisive break above $67,674 would likely trigger momentum toward the upper range boundary at $70,000.
This article was written based on reporting from BeInCrypto.
