The total crypto market cap (TOTAL) and Bitcoin (BTC) registered no major increase in the last 24 hours. Altcoins, however, observed gains with Zcash (ZEC), marking a 15.5% increase.

In the news today:-

• MicroStrategy bought 10,624 more BTC for nearly $1 billion, raising its total holdings to 660,624 BTC. The move comes as Michael Saylor and the company face intensified scrutiny during Bitcoin’s market downturn.
• The CFTC has launched a digital assets pilot program allowing bitcoin, ether, and USDC to be used as margin collateral in derivatives markets. The move, paired with updated tokenized collateral guidance, is being hailed as a major step forward for broader crypto adoption.

The Crypto Market Remains Stable

The total crypto market cap has barely moved in the past 24 hours,rising by $2.21 billion, reaching $3.04 trillion. TOTAL failed breaching the $3.05 trillion resistance level and flipping it into support, which is crucial for recovery.

The anticipation surrounding the December 10 FOMC meeting is likely keeping the crypto market stable. If the 25 bps cut in interest rate goes through as expected, TOTAL could rise to $3.09 trillion or higher.

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However, if bullish sentiment weakens and TOTAL loses the $3.00 trillion floor, the market may retrace toward $2.93 trillion. A drop to this level would invalidate the bullish thesis.

Bitcoin Is Yet To Rise

Bitcoin’s price has shown no uptick in the last 24 hours, trading at $89,900 at the time of writing. The crypto king continues to struggle under the downtrend that has been active since the end of October, which has capped upward movement throughout the week.

A shift in momentum will depend on stronger investor support. If buyers step in, Bitcoin could reclaim $90,401 as support and advance toward $95,000 in the coming days, marking a potential recovery from recent stagnation.

However, if market conditions turn bearish, Bitcoin may retreat toward the $86,822 support level. A drop below this support would invalidate the bullish thesis and expose BTC to deeper downside risk.

Zcash Jumps Today

ZEC price is up 15.5% in the last 24 hours, rising to $396 after bouncing off the $340 support level. The altcoin is now trading just below the critical $403 resistance, where a breakout could determine its next major move.

The Ichimoku Cloud signals that bullish momentum remains intact, suggesting ZEC could extend its climb if market support holds. A successful breach of $403 may open the path toward $442 and potentially higher levels as buyers strengthen their position.

However, if investor sentiment weakens and selling pressure emerges, ZEC could slip back toward $340. Losing this support would invalidate the bullish outlook and erase much of the recent upside.

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