Cryptocurrency Market Total Market Cap Latest Update: We are currently still oscillating within a trading range. Although market sentiment appears weak and many analysts are calling for a bottom, the daily chart shows a less pessimistic picture. This wave of decline has touched a key support level (bullish demand zone). As long as the closing price stays above this level, the probability of a rebound remains quite high. The daily chart of Bitcoin is particularly worth noting — the defensive stance at support levels often reflects short-term buying strength. Despite the strong bearish sentiment, market data is telling a different story, which is why one should not blindly follow the trend and short.