Crypto market dips $14 billion as Bitcoin stalls and BONK retreats

Beincrypto reports the total crypto market cap fell by $14 billion over the past 24 hours, consolidating near $3.16 trillion as short-term support while Bitcoin trades around $93,021, remaining below the $93,471 resistance. The pullback followed profit-taking after nearly a week of gains, with TOTAL failing to reclaim the $3.21 trillion resistance and broader weakness limiting upside momentum.

Altcoins were hit as well: BONK spiked to an intraday high of $0.00001340 before reversing, dropping about 12% from that high and failing to hold above the $0.00001216 resistance; it now trades near $0.00001174 above $0.00001103 support. In separate developments, Grayscale launched the Grayscale Bittensor Trust, driving TAO to a multi-week high with trading volume exceeding $230 million, and President Trump said Venezuela’s interim authorities would send 30 to 50 million barrels of oil to the US following Nicolás Maduro’s capture, prompting speculation that other Venezuelan assets could be transferred next.

According to the analysis, a recovery hinges on improved macro sentiment and reduced selling: if investors return to HODLing, TOTAL could rebound toward $3.21 trillion and Bitcoin might reclaim $93,471, potentially opening a path to $95,000; continued weakness could test $91,511. For BONK, renewed buying could push it back above $0.00001216 toward $0.00001353, while a breakdown could expose $0.00001009.

Key Topics

Crypto, Bitcoin, Bonk, Grayscale, Grayscale Bittensor Trust, Tao