Crypto Market Slips by $45B as Bitcoin Cools, MemeCore Crashes 35%

Crypto Market Cools Off as Sell-Off Continues

The total crypto market capitalization dropped by $45 billion in the last 24 hours, now sitting at $3.62 trillion. The pullback signals a market cooldown after weeks of steady gains.

Bitcoin is currently priced at $117,386, hovering below the key $118,000 level. Altcoins followed suit, with MemeCore (M) suffering a steep 35% loss, now trading at $0.40.

Crypto Market: Regulation and Institutional Moves

The U.S. Office of the Comptroller of the Currency (OCC), FDIC, and Federal Reserve announced that banks are now allowed to hold crypto assets on behalf of clients. However, banks cannot give clients direct access to storage mechanisms, reflecting a consumer protection approach.

Meanwhile, Strategy Inc. (formerly MicroStrategy) allocated $472.5 million to Bitcoin. Inspired by this move, Matador Technologies plans to raise CAD 657 million over 25 months, most of which will go toward Bitcoin acquisitions.

Market Cap at Risk of Further Losses

If current selling pressure continues, the total crypto market cap could slip to $3.49 trillion, potentially erasing much of the recent bullish momentum. A recovery would need investor confidence and macroeconomic support to lift the cap back toward $3.73 trillion.

The $3.64 trillion mark remains a critical support level.

Bitcoin Faces Key Support at $115,000

Bitcoin’s rally has paused, with the price consolidating just above $117,000. If the downtrend extends, BTC may test the $115,000 support zone. Holding this level could trigger a rebound, while a drop below it risks a larger correction.

Conversely, a breakout above $119,966 would set the stage for Bitcoin to retest $120,000. That move could restore bullish sentiment and drive further inflows into the market.

MemeCore Nosedives 35%, Faces Crucial Test

MemeCore fell sharply after failing to break its $0.84 resistance. The meme coin is now trading near $0.40 and risks a further decline toward $0.29 if selling persists.

However, renewed investor interest could flip the trend. A bounce back toward $0.84 could invalidate the current bearish outlook and revive short-term momentum.