The cryptocurrency market shows strong upward momentum, surpassing a total market capitalization of $3.15 trillion. Bitcoin is attempting to break its downtrend line again, while altcoins, led by Zcash, benefit from increased risk appetite.
The total crypto market capitalization recorded a spectacular gain of $95 billion over the past 24 hours. This rebound comes amid improving macroeconomic conditions and a gradual return of institutional investor confidence. Inflows into major cryptocurrencies reflect a shift in sentiment that could mark the beginning of a new growth phase.
However, sector news remains mixed. Binance faces a major lawsuit filed by families of victims of the October 2023 Israeli attacks, alleging the platform facilitated transactions for designated terrorist groups. This case could redefine the legal liability of crypto exchanges, shifting the focus from regulatory sanctions toward direct civil liability for terrorism financing.
Meanwhile, the prediction markets ecosystem is experiencing remarkable expansion. Changpeng Zhao is accelerating his offensive with the launch of a new platform on BNB Chain, while Trust Wallet integrates prediction trading for its 220 million users. With recent Polymarket integrations and Opinion’s mainnet deployment, BNB Chain is progressively establishing itself as an essential hub for decentralized prediction markets.
The king of cryptocurrencies is currently trading around $93,000 and testing its downtrend line for the fourth time. This technical level is capturing all trader attention, as breaking through it would definitively confirm Bitcoin’s recovery and open the path toward $96,000, potentially $100,000 thereafter.
The momentum over the past 48 hours reinforces the hypothesis of an imminent breakout. Macro signals are gradually improving, notably with a relative easing of interest rate tensions and a US dollar showing signs of exhaustion. If Bitcoin manages to break through this resistance and transform $95,000 into solid support, the $98,000 target would quickly become attainable.
Technically, buying volumes are progressively intensifying as they approach this critical zone. On-chain indicators also show continuous accumulation by smart money, those seasoned investors positioning their orders ahead of major moves. The daily RSI is gradually emerging from its oversold zone, suggesting that a continuation of the rally remains statistically probable.
However, the bearish scenario should still be monitored. A rejection at the downtrend level could violently push Bitcoin below the $91,521 support, potentially toward $89,800. Such a correction would temporarily invalidate the bullish thesis and extend the consolidation phase that began several weeks ago. Additionally, numerous long positions need liquidating at $85,000, so a return to this zone in the coming weeks cannot be ruled out, even if Bitcoin breaks through $96,000.
The privacy token displays a remarkable gain of 12.5% to reach $352. This performance follows a brutal 45% correction the previous week, which had brought ZEC back to particularly attractive price levels for opportunistic buyers.
Maintaining support at $344 remains decisive for extending this technical bounce. Buying volumes are progressively intensifying, suggesting renewed interest in privacy-focused protocols amid a tightening regulatory context. The next major resistance sits at $442, a level that will require reinforced investor conviction to break through.
However, be careful not to underestimate the pullback risk. If selling pressure returns and ZEC breaks below $344, a return toward the $300 zone would become likely. Breaking through this last bastion would completely invalidate the recovery scenario and expose the token to further significant declines down to at least $225.
Take advantage of the best offers to buy your BTC or Zcash with exceptional bonuses. Up to 1000 USDT offered on Pionex (plus their 16 free bots), $5 on Zoomex with just a few clicks and $65 on ByBit for a $100 deposit:
Related articles:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
