Crypto

Crypto Prices Today: Bitcoin Trades Near $89,000, Ethereum Reclaims $3,000

Crypto Price Today: Bitcoin Trades Near $89,000, Ethereum Reclaims $3,000 as Global Market Cap Stands at $3.01 trillion

Bhavesh Maurya

The total market capitalization of cryptocurrencies stands at $3.01 trillion, marking a 0.93% increase over the last 24 hours. The broader market is showing early signs of stabilization after recent volatility, supported by selective risk-on positioning and easing pressure in derivatives markets.

While macroeconomic uncertainty and cautious central bank signals continue to cap aggressive upside, reduced forced selling and improving spot demand are helping prices grind higher. Overall sentiment remains guarded but has shifted from defensive to neutral-to-positive in the near term.

Bitcoin (BTC): Holds Firm Near $89,000

Bitcoin is currently trading at $88,887, up 0.96% over the past 24 hours. BTC has stabilized above the $88,000 level after reclaiming short-term moving averages, suggesting that sellers are losing momentum following last week’s pullback.

Immediate resistance is seen near $90,500, followed by a broader supply zone around $94,000-$95,000. On the downside, support is located near $86,500, with stronger demand expected in the $83,000-$84,000 range.

Derivatives data indicate steady open interest with neutral funding rates, pointing to balanced positioning rather than excessive leverage. This supports the view that current consolidation is constructive rather than distribution-driven.

Ethereum (ETH): Pushes Back Above $3,000

Ethereum is trading at $3,039, up 2.19% over the last 24 hours. ETH has regained the psychological $3,000 level after several sessions of sideways movement, improving short-term technical structure.

A sustained hold above $3,000 could open the door toward $3,150-$3,200, where selling pressure previously emerged. Immediate support lies near $2,950, followed by a stronger base around $2,800 if market volatility increases.

Improving on-chain activity and renewed interest in layer-2 ecosystems are providing a supportive backdrop, though ETH remains sensitive to broader market direction.

Altcoins:

Avalanche (AVAX)

AVAX is trading at $12.22, up 0.54% over the last 24 hours. Immediate resistance is seen near $13, while support is placed around $11.80-$11.50.

Avalanche continues to benefit from growth in subnets and institutional-focused deployments, though upside remains tied to overall market strength.

Arbitrum (ARB)

ARB is trading at $0.1897, up 0.86% over the last 24 hours. Immediate resistance is seen near $0.20, while support lies around $0.18-$0.175.

Layer-2 adoption and increasing DeFi activity on Arbitrum remain key long-term positives.

Near Protocol (NEAR)

NEAR is trading at $1.52, up 1.44% over the last 24 hours. Immediate resistance is seen near $1.60, while support is located around $1.45-$1.40.

NEAR’s ecosystem expansion and developer activity continue to support its medium-term outlook.

XRP (Ripple’s Native Token)

XRP is trading at $1.92, up 0.06% over the last 24 hours. Immediate resistance is seen near $2.00, while support is placed around $1.88-$1.85.

XRP continues to benefit from improving regulatory clarity and steady adoption in cross-border payment use cases, though near-term price action remains closely tied to broader market sentiment.

Memecoins:

Dogwifhat (WIF)

WIF is trading at $0.3420, down 1.18% over the last 24 hours. Immediate resistance is seen near $0.36, while support lies around $0.33-$0.32.

Price action remains highly sentiment-driven, with volatility tracking broader risk appetite.

Floki (FLOKI)

FLOKI is trading at $0.00004086, up 0.16% over the last 24 hours. Immediate resistance is seen near $0.00004250, while support is located around $0.00003950-$0.00003880.

Speculative flows and community-led momentum continue to dominate FLOKI’s short-term movements.

Market Outlook

The 0.93% increase in total crypto market capitalization reflects a modest recovery and improving short-term sentiment. 

Bitcoin’s ability to hold above key support and Ethereum’s reclaim of the $3,000 level suggest that markets may remain range-bound with a slightly bullish bias.

A stronger upside scenario would require BTC to decisively break above $90,500 and ETH to sustain strength above $3,100, while failure to hold current levels could see renewed consolidation rather than a sharp reversal.

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