Why is The Crypto Market Down Today?

Total crypto market cap declines $71 billion to $3.85 trillion amid geopolitical uncertainty; support levels at $3.81 trillion and $3.89 trillion are key.
Bitcoin hovers above $115,000; RSI below 50 signals fading bullish momentum and potential drop to $112,256.
Chainlink rises 9% to $24.65, Parabolic SAR indicates uptrend; potential resistance at $26.73 and $30.00, support at $22.63.
The total crypto market cap (TOTAL) and Bitcoin (BTC) are noting a drop today, with the latter falling to $115,500 as the broader market conditions worsen. Altcoins, on the other hand, are performing rather well, moving against BTC, led by Chainlink (LINK), whose price rose by 9%.
The Crypto Market Is In the Red
The total crypto market cap dropped by $71 billion in the past 24 hours, settling at $3.85 trillion. The decline follows uncertainty sparked by the Trump-Putin Alaska meeting, which triggered risk-off sentiment. This shift highlights the market’s sensitivity to geopolitical events impacting investor confidence across digital assets.

TOTAL now appears vulnerable to another decline, with downside risk pointing toward $3.81 trillion. Bitcoin’s weakness has led to a broader downturn, dragging altcoins with it.

Should market conditions improve, TOTAL may reclaim the $3.89 trillion support level. This recovery could provide momentum for a push toward $4.01 trillion, signaling renewed optimism. Such a move would ease investor concerns and strengthen confidence.

Should market conditions improve, TOTAL may reclaim the $3.89 trillion support level. This recovery could provide momentum for a push toward $4.01 trillion, signaling renewed optimism. Such a move would ease investor concerns and strengthen confidence.

If Bitcoin rebounds from the $115,000 support, the crypto king could regain strength. A successful bounce may allow BTC to retest $117,261, with a breakout potentially flipping it into support. This scenario would open the path for a climb toward $120,000, reinforcing renewed optimism among traders.

Chainlink Gains in 24 Hours
Chainlink defied Bitcoin’s pullback, emerging as a top performer with a 9% gain. At press time, LINK trades at $24.65, showing strong momentum. The move highlights investor confidence in the altcoin’s resilience.

The Parabolic SAR indicator currently sits below LINK’s candlesticks, confirming an active uptrend. This bullish signal suggests upward momentum remains intact. If buying pressure continues, Chainlink could break through $26.73 and extend its rally toward $30.00, reinforcing optimism.

However, if selling pressure builds, LINK risks losing traction. A decline could push the price down to $22.63 support, with a further breakdown potentially dragging it to $19.88 or lower. Such a move would invalidate the bullish outlook and shift sentiment toward caution among traders.
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