Why is The Crypto Market Down Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) have seen slight declines over the last 24 hours. As the weekend volatility subsides, the market will have a better shot at recovery. Among the altcoins, Four (FORM) took the biggest hit, falling by 13% in the span of 24 hours.

In the news today:-

• OKX has launched a new platform in Australia targeting self-managed superannuation funds (SMSFs), expanding its presence in the retirement market. The move offers individuals and small groups more direct control of savings, despite crypto’s limited role in pensions.
• Vietnam has approved pilot cryptocurrency exchanges under Resolution 05/2025, setting strict capital and shareholder requirements. Major banks and securities firms are now investing in technology and infrastructure to join the regulated digital asset market.

The Crypto Market Is Hovering Around Support

The total crypto market cap slipped by $13 billion in the past 24 hours, now standing at $4.00 trillion. TOTAL remains trapped below the $4.01 trillion resistance, highlighting investor caution as the market seeks stability before the next decisive move.

Despite the dip, broader sentiment suggests resilience, with analysts attributing the drop to weekend volatility rather than structural weakness. If conditions improve, TOTAL could reclaim $4.01 trillion, turning it into support.

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Total Crypto Market Cap Analysis. Source: TradingView

However, downside risks persist if the market fails to break through resistance at $4.01 trillion. In that case, TOTAL could retreat toward $3.94 trillion, erasing recent gains. Such a retracement would weigh on investor sentiment and delay recovery.

Bitcoin Holds Above $115,000

Bitcoin price has secured $115,000 as a key support level, showing resilience despite heightened volatility. Trading at $115,958, the crypto king demonstrates investor confidence as it holds steady above this critical zone.

The next challenge for Bitcoin is sustaining bullish momentum to reach the resistance of $117,261. Breaking through this barrier could attract higher demand from institutional and retail investors alike.

Bitcoin Price Analysis. Source: TradingView

On the downside, skepticism from investors may undermine Bitcoin’s rally. If selling pressure builds, BTC risks losing the $115,000 support level. A drop below this threshold could push the cryptocurrency toward $112,500, signaling weakness and exposing the market to broader volatility.

Four Observes A Sharp Drop

FORM is trading at $2.30, making it one of the worst-performing tokens in the crypto market. The altcoin remains under heavy selling pressure and could continue its decline if market conditions worsen further.

Currently at a near three-month low, FORM risks falling to the $2.07 support level. A breakdown could trigger additional selling as investors attempt to offset losses, adding downward pressure.

FORM Price Analysis. Source: TradingView

Alternatively, if FORM manages to reclaim $2.34 as a stable support level, bullish sentiment may return. This recovery could drive the token toward $2.60 in the coming days, invalidating the bearish outlook and recovering recent market losses.