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Crypto market holds near $2.87T as Bitcoin tests support

Total crypto market value sits at about $2.87T, rebounding from $2.83T lows, while Bitcoin remains supported near $82.5K.

Reported · Written up by our desk · Market Structure

According to Action Forex, the crypto market is showing low volatility, with total value around $2.87T after rebounding from last week’s lows near $2.83T.

The outlet said the market is still in a short-term downtrend as long as it remains below $2.90T, with a strengthening US dollar and uncertainty in equity markets contributing to cautious sentiment.

Action Forex reported that on Monday evening into Tuesday, Bitcoin found support on dips to $82.5K, after moving up to about $84K at the time of writing.

The outlet added that if bullish sentiment becomes sustained, it could set up multi-month highs above $87K, and it framed Ethereum as a gauge of sentiment within the crypto space.

Latest closeBitcoin $83,764.31 ▲0.3%|Ethereum $2,704.55 ▲0.6%

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