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 $63,777.86 Bitcoin -0.40% Market capitalization $1.28 trillion VOL. 24 hours $0.86 billion rose by 2.84% to $ 103,435, Ethereum ETH $1,891.94 Ethereum 0.88% Market capitalization $228.32 billion VOL. 24 hours $0.34 billion added 5.06% to $ 3,407, and XRP XRP $1.02 XRP 1.48% Market capitalization $63.86 billion VOL. 24 hours $78.82 million rose by 8.66% to $ 2.34. Dogecoin DOGE $0.07 Dogecoin 2.07% Market capitalization $11.13 billion VOL. 24 hours $42.12 million and Solana SOL $76.26 Solana 0.86% Market capitalization $44.42 billion VOL. 24 hours $96.59 million 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.