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The crypto market is slipping into the last weekend of 2025. Total value is near $2.92 trillion, down about 2.25% from yesterday’s highs, as low-liquidity holiday trading sets in. Bitcoin has given back close to 3% from yesterday’s peak and is down about 1.8% in the last 24 hours.
Most large caps are either red or flat, including Ethereum at –1.6% and XRP at –1.2%. The one clear outlier is Zcash, up 5.3%, pushing against the broader downtrend.
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Do not let the small green candle on the total market chart (TOTAL) fool you. The crypto market has corrected more than 2% since yesterday’s highs, losing roughly $67 billion. This drop comes after another failed attempt to reclaim $3 trillion, a level the market lost on December 14 and has not recovered since. That failure is dragging sentiment lower.
The chart shows the market cap trapped between $3.00 trillion and $2.89 trillion. This range signals indecision as we enter the final weekend of 2025, a period known for thin liquidity.
Hyperliquid positioning adds context. Long positions are getting cut into weakness, while shorts have grown more active. That shift hints at a market preparing for more pressure rather than a clean rebound.
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If $2.89 trillion breaks on the daily chart, $2.81 trillion and even $2.73 trillion could be tested. Reclaiming $3 trillion remains the first signal that the market is ready to attempt a move toward $3.25 trillion again. But for the TOTAL chart to show strength, even BTC needs to act.
Bitcoin is down about 2% in the past 24 hours, and has corrected nearly 3% from yesterday’s highs. The failure to reclaim $90,450 remains the clearest sign of hesitation. This level acted as a strong rejection point on December 13 and continues to block upside attempts. Until this flips, BTC stays stuck inside the same range it has held since mid-December.
For almost two weeks, the price has moved between $90,450 and $86,380, with brief downside attempts showing sellers trying to force momentum lower.
Weak weekend liquidity and rising short pressure make that lower boundary more fragile than usual. A break under $86,380 could open room to $83,480 and even $80,500 if sentiment worsens.
BTC also needs to climb back above $90,450 to show strength. That level is the gateway toward $93,580, which is close to where Bitcoin opened 2025 and would help repair confidence before 2026 arrives. If Bitcoin cannot lead, the total crypto market cap will struggle to reclaim $3.00 trillion, since BTC still dictates most market direction.
Zcash is up more than 5% in 24 hours, trading near $468, moving against the broader market. The upside comes from the December 17 bull-flag breakout, which pointed to a potential 57% measured move. If that projection repeats, the next target sits near $591.
For that scenario to stay alive, ZEC needs a clean daily close above $469. That level caps multiple attempts since the breakout. A move through it would confirm buyer control and open room toward $591. On the downside, $404 is the immediate support. Losing it weakens the breakout. A drop toward $327 would invalidate the structure.
One reason ZEC is holding up while majors slip is correlation. The 30-day Pearson correlation with BTC is about -0.10, meaning ZEC is moving slightly opposite to Bitcoin. That helps explain today’s strength while the market trends lower.
Vitalik Buterin’s criticism of the EU’s “no-space” digital rules has also refreshed interest in privacy tools. This doesn’t change access challenges, but it supports the narrative that privacy assets like Zcash matter, even when regulation makes them harder to use.
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