The total crypto market cap (TOTAL) and Bitcoin’s (BTC) price are currently subdued owing to bearish macro conditions. The recent approval of spot Ethereum filings and the crypto regulatory framework bill FIT21 have had no bullish impact on the market yet. Nevertheless, a small-cap token, JasmyCoin (JASMY), did impress investors with a 31% rise in 24 hours.In the news today:-The total crypto market cap is currently at $2.5 trillion, hovering around this level for almost a week. TOTAL managed to breach this barrier but fell soon after below the level. Amid the bearish macro market conditions, the rise expected to take the total market cap beyond $2.61 trillion has become a sideways movement.This will continue in the coming days until the market witnesses a resurgence in optimism.Read More: 9 Best Altcoin Exchanges In 2024But if bearish cues dominate the market, a drop to $2.40 trillion cannot be ruled out. This could also wipe out a chunk of inventors’ gains.Bitcoin’s price is trading at $68,571 at the time of writing after failing to breach the resistance at $71,800. Holding the support at $70,000 or bouncing off it would have enabled BTC to continue rising, but this did not transpire either.As a result, the crypto asset is currently holding above the $68,500 support floor that BTC has tested multiple times.Read More: Bitcoin Halving History: Everything You Need To KnowA fall below this support could lead to a significant drawdown, which could drag Bitcoin’s price down to $64,800.JasmyCoin, the native crypto token of a Tokyo-based IoT company, Jasmy Corporation, leveraged the little bullishness still in the market. The altcoin surpassed every other major altcoin to emerge as the best performer in the last 24 hours.JASMY marked a 30% rally, bringing the crypto asset up from $0.021 to $0.027 and reaching a two-year high as a result. Read More: What Is JasmyCoin (JASMY)?While the all-time high is far away, the next major support is also far away. Thus, if investors do not sustain this rise, the chances of reaching it could vanish, with JASMY falling to the crucial support of $0.024.DisclaimerIn line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
