Cryptocurrency Total Market Cap (TOTAL) and Bitcoin (BTC) ended the weekend on a bearish note, and the effects have carried over into Monday. Kaia (KAIA) led the decline among altcoins, losing nearly 20%.
Today’s news:-
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Japan may approve its first cryptocurrency exchange-traded fund by 2028, with regulators planning to add cryptocurrencies as eligible ETF assets. Following the success of U.S. spot Bitcoin ETFs, Nomura and SBI are expected to launch these products on the Tokyo Stock Exchange.
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A cryptocurrency scandal in the United States accuses John Daghita, known as “Lick,” of using access related to his father’s company to steal more than $40 million from government-seized wallets. Blockchain investigator ZachXBT traced a wallet containing at least $23 million, linked to more than $90 million in thefts from 2024 to 2025.
As of this writing, the total cryptocurrency market capitalization has dropped by $56 billion and is currently close to $2.92 trillion. Despite the decline, market structure shows early signs of stabilization. After a bearish weekend, selling pressure has eased, allowing the digital asset to attempt a short-term recovery.
Broader macro signals remain mixed. Gold prices continue to hit record highs, surpassing $5,000, reflecting strong safe-haven demand. Continued strength in safe-haven assets could limit the movement of capital into cryptocurrencies, putting continued pressure on Total and slowing any attempts at a sustained recovery.
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If sentiment improves along with macro trends, a recovery is still possible. If bullish conditions line up with broader market strength, Total could regain upward momentum. A coordinated move higher could push the total cryptocurrency market capitalization towards the $3 trillion level in the coming days.
Sunday’s sharp sell-off pushed the price down from the $90,000 level, with Bitcoin trading near $87,619. The decline reflects heightened volatility and caution across the cryptocurrency market. The recent weakness has brought Bitcoin closer to a key technical area that could determine its next move.
The two-week pullback validates the expanding rising wedge on the chart. This pattern often signals rising volatility and a potential downside trend. If the bearish momentum intensifies and Bitcoin breaks below, the price may slide towards the next support near $84,698.
If buying pressure returns, a bullish reversal remains possible. Force above current levels could push Bitcoin towards $89,241. Recovering this resistance would open a path back above $90,000 and allow BTC to target $91,298 levels, thereby invalidating the bearish setup.
