Why is The Crypto Market Down Today?

The crypto market shows tentative signs of recovery, with the total market cap rising $5 billion to $3.28 trillion. Resistance at $3.31 trillion remains a key hurdle—breaching this level would signal stronger bullish momentum, but current macroeconomic neutrality suggests consolidation may continue.

Pump.fun's upcoming token launch aims to raise $1 billion in initial sales, potentially valuing the project at $4 billion. Meanwhile, Donald Trump's collaboration with Magic Eden on a crypto wallet and TRUMP token airdrop underscores growing political engagement with digital assets.

Technical analysis indicates the TOTAL chart remains range-bound. A decisive breakout above $3.31 trillion resistance could trigger upward acceleration, while failure risks retesting support levels. Market participants await clearer macroeconomic signals for directional conviction.