Why is the Crypto Market Down Today (4/28/25)?
Jakarta, Pintu News â The crypto market came under pressure again today, April 28, 2025. In the last 24 hours, the total crypto market capitalization and the price of Bitcoin recorded slight losses. However, Bitcoin was still able to hold above critical support levels, reducing the risk of a deeper correction.
On the other hand, some altcoins, such as Artificial Superintelligence Alliance have experienced more significant declines. What are the main factors behind these movements? Check out the full review below!
Crypto Market Survives Correction
The total crypto market capitalization dropped by about $30 billion in the last 24 hours, now standing at $2.89 trillion. Currently, the market is moving within the range of support at $2.87 trillion and resistance at $2.93 trillion.
This decline has not shown any signs of a major change in market direction. In general, the market appears to be undergoing a cooling phase, rather than heading for a major crash. As long as the market capitalization stays above $2.87 trillion, a potential deeper drop can be avoided.
Conversely, if there is a rebound from the support level and is able to break through $2.89 trillion, the crypto market has the opportunity to move back towards the psychological figure of $3.00 trillion.
Also read: Binance Plans to List Pi Network (PI)? New Criteria Spark Speculation!
Bitcoin is ârestingâ, but still strong
Bitcoin is currently trading around $93,726, remaining firmly above the critical support level of $93,625. BTC is trying to bounce off this support and target resistance at $95,668.
With the current conditions, the likelihood of a significant drop is relatively small. But if selling pressure arises, Bitcoin is expected to find strong support around $91,581 to $89,800.
If Bitcoin manages to break $95,668, then the chances of reaching the next target around $98,000 will be wide open, as well as removing the bearish scenario shortly.
Read also: Pi Network (PI) Back on BitMart, Early Price Hike?
Artificial Superintelligence Alliance (FET) Stabilizes Amid Correction
The FET token has experienced a decline of nearly 10% over the last 24 hours, currently trading at around $0.707. After registering substantial gains throughout this month, this decline is viewed more as a healthy correction phase.
Significant support for FET is at $0.641. If the selling pressure continues, the price may test this support, but it does not automatically mean a significant trend change.
If market sentiment improves and investors choose to HODL, FET could potentially break the resistance at $0.775. If successful, the altcoin could continue its rise towards $0.901, and the bearish scenario would be completely nullified at this point.
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*Disclaimer
This content aims to enrich readersâ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetâs past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- BeInCrypto. Why Is the Crypto Market Down Today? Accessed April 28, 2025
- Featured Image: Generated by AI
