Why Is The Crypto Market Down Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) dipped slightly over the last 24 hours, signaling a risk-off shift following the recent gains. Among the altcoins, Audiera (BEAT) also took the biggest hit, falling by 15%.

In the news today:-

• Fold Holdings announced its inclusion in the Russell 2000 on December 22, marking a milestone for the Bitcoin-focused financial services firm. The company holds over 1,500 BTC and offers consumer products, including the Fold App, debit card, and Bitcoin rewards cards.
• A years-long dispute in rural Texas highlights community backlash against a nearby Bitcoin mining facility over persistent noise pollution. Residents accuse MARA Holdings’ Granbury operation of disrupting daily life, while the company says it operates legally and has invested in noise reduction efforts.

The Crypto Market Fails To Cross $3 Trillion

The total crypto market cap has declined by $24 billion in the past 24 hours, standing at $2.94 trillion. Despite the pullback, TOTAL remains above the $2.92 trillion support. This level is critical for maintaining short-term stability amid cautious market sentiment.

Macro conditions are driving downside risk. TOTAL retreated after nearly reclaiming the $3.00 trillion mark during intraday trading. A decisive break below $2.92 trillion would weaken the structure. In that case, the market cap could slide toward the $2.85 trillion support zone.

TOTAL Price Analysis. Source: TradingView

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Seasonal factors may influence recovery. Improved sentiment around Christmas could attract fresh inflows. If buyers defend $2.92 trillion, TOTAL may rebound and retest $3.00 trillion. A successful move back toward this level would signal renewed confidence across the broader cryptocurrency market.

Bitcoin Hovers Around Key Support

Bitcoin continues to consolidate around the $88,210 pivot, hovering near this key level for nearly ten days. At the time of writing, BTC trades at $87,896. Prolonged range-bound movement reflects market indecision as traders await clearer macro and seasonal direction.

Downside risk remains if investors reduce exposure ahead of the holidays. Increased selling to mitigate potential volatility could pressure Bitcoin lower. In that scenario, BTC may slide toward the $86,247 support, with a deeper pullback exposing the $84,698 level.

BTC Price Analysis. Source: TradingView

Seasonal sentiment could support a rebound. Improved risk appetite during the holiday period may attract fresh buying interest. If Bitcoin reclaims $88,210 as support, the price could advance toward $90,308, signaling renewed momentum and short-term recovery strength.

Midnight Slips From Its ATH

NIGHT was among last week’s top performers after rallying to a new all-time high. Momentum cooled over the past 24 hours, with the token declining 15.4%. The pullback reflects profit-taking rather than a full trend reversal, as broader interest around the altcoin remains elevated.

The recent decline pushed NIGHT below the $0.100 support, with price trading near $0.095. Further downside appears limited under current conditions. If selling pressure increases, NIGHT may retest the $0.075 support, a level that previously attracted strong buyer interest.

MYX Price Analysis. Source: TradingView

Recovery potential remains intact. A successful rebound above $0.100 would restore bullish structure. If momentum rebuilds, NIGHT could challenge $0.120. Sustained buying may drive another breakout, opening the path toward a new all-time high near the $0.150 level.