Crypto Mcap is on a📉, Hanging at a Key Support Level

Weekly Highlights

• SEC Drops its case against Ripple:  Ending a long legal battle, the SEC formally dismissed its lawsuit against Ripple
• COTI rolled out its long-awaited v2.0 Mainnet: The upgrade enhances scalability, security, and decentralization for COTI’s ecosystem.
• USDC stable coin receives approval for use in Japan: Circle’s USDC becomes one of the few stablecoins legally approved under Japan’s new crypto regulations.
• Trump Media looks to partner with Crypto.com to launch ETFs: Trump Media is exploring a partnership with Crypto.com to introduce crypto-based ETFs.
• DWF Labs launches a $250 million liquid fund for mainstream crypto adoption: The new fund aims to accelerate blockchain innovation and drive global crypto adoption.

Market Insights

Crypto Total Market Cap (TOTAL) Analysis: The Total Market Cap Represents Combined valuation of all cryptocurrencies, reflecting overall market strength or weakness

Current Market Structure:

• The market cap is at $2.62T, testing a key support Zone between $2.6T – $2.7T, which aligns with the previous cycle’s peak.
• The 100-Week EMA (currently at $2.24T) is a critical long-term support level
  A sustained bounce from this zone could signal bullish continuation, while a breakdown may lead to further downside.
  
  Conclusion: If TOTAL holds above 2.6T, it could indicate market stabilization and a potential rebound. However, a decisive break below could trigger a deeper correction towards the 200-week EMA.

Upcoming Events

• US Fed Chair Powell Speaks—4th April: Market volatility expected as Powell provides insights on monetary policy
• US Unemployment Rate Data: Key economic indicator release that may impact financial markets just before Powell speaks on 4th April
• Wormhole Token Unlock: Major Token unlock for Wormhole ($W) is set for 3rd April releasing 47.4% of the circulation supply in to the markets that could influence wormhole price action