Liquidation of the crypto market amounted to $ 313 million despite the growth of major cryptocurrencies

After Donald Trump’s statements about supporting the cryptocurrency industry, the market showed growth. Bitcoin BTC $77,883.72 Mezo Wrapped BTC -0.37% Market capitalization $0.1 billion VOL. 24 hours $1 billion rose by 2.84% to $ 103,435, Ethereum ETH $2,315.48 Bridged Ether (StarkGate) -0.69% Market capitalization $41.19 million VOL. 24 hours $0.58 billion added 5.06% to $ 3,407, and XRP XRP $1.42 XRP -0.83% Market capitalization $87.37 billion VOL. 24 hours $67.14 million rose by 8.66% to $ 2.34. Dogecoin DOGE $0.10 Binance-Peg Dogecoin -0.46% Market capitalization $0.25 billion VOL. 24 hours $75.75 million and Solana SOL $85.38 Binance-Peg SOL -1.44% Market capitalization $93.91 million VOL. 24 hours $0.22 billion also grew by 4.64% and 5.87%, respectively. The total market capitalization increased by 4% to $ 3.43 trillion.

The rise came after Trump promised to make the United States a «bitcoin superpower» and announced the end of the «war against cryptocurrencies,» which he said was waged by the previous administration. Despite the positive reaction, investors remain cautious: bitcoin and ether are trading 18% and 31% below this year’s highs.

According to CoinGlass, more than $ 313 million of positions, mostly short, were liquidated from the market overnight. The open interest in bitcoin futures increased by 1.59%, indicating that derivatives trading has intensified. The Fear and Greed Index improved from «extreme fear» to «fear,» indicating a gradual recovery in confidence.

B2BinPay analysts believe that the market is in a correction phase rather than a prolonged decline. They call $ 100,000 a key support level for bitcoin. Holding this mark may open the way to growth to $ 115,000-$ 120,000, provided that flows to crypto funds stabilize and the macroeconomic background improves.

However, CryptoQuant warns that if bitcoin fails to gain a foothold above the 365-day moving average ($ 102,000), it may fall to $ 72,000. This level has repeatedly served as an important technical and psychological support for the market.