Why is the crypto market falling today?

The total market capitalization of crypto (TOTAL) and the price of Bitcoin has slightly fallen in the past 24 hours, after the U.S. Senate passed the "Big, Beautiful Bill." Altcoins were also affected, with FARTCOIN leading the decline with a 4% drop.

Today's highlights:

– The U.S. Senate has passed President Donald Trump's $3.3 trillion fiscal spending package, known as the "Big, Beautiful Bill." The crypto market is closely monitoring the potential impact of this legislation. Although the overall market is experiencing a slight correction, the prices of Bitcoin and ETH remain stable; however, this legislation could affect investor sentiment and capital allocation in the coming period.

– DeFi Development has announced a plan to issue convertible bonds worth 100 million dollars, aimed at raising capital to purchase Solana. The issuance amount may be increased to a maximum of 125 million dollars. However, DeFi's shares have fallen by more than 9%, reflecting the uncertainties surrounding SOL's performance as well as the overall volatility of the crypto market.

Crypto market falls 44 billion dollars

TOTAL has fallen by 44 billion dollars after the U.S. Senate passed President Donald Trump's "Big Beautiful Bill", down to 3.22 trillion dollars and is under significant pressure amid widespread market instability. The potential impact of the bill has created negative sentiment, affecting investor confidence across the market. Fortunately, the total market capitalization has somewhat recovered at the time of writing, rising to 3.29 trillion dollars.

Although TOTAL is still holding above the important support level of 3.21 trillion dollars, if the negative trend continues, the risk of a deeper fall is entirely possible. In the event of losing this support, the market capitalization could drop to 3.16 trillion dollars, and the decline will be even stronger if market sentiment continues to worsen.

Total market capitalization of crypto | Source: TradingViewIf macroeconomic conditions stabilize and investor confidence improves, TOTAL could bounce back from the level of 3.21 trillion dollars, thereby pushing the market capitalization above the threshold of 3.26 trillion dollars.

This potential recovery will help strengthen the market position, reverse the recent downtrend, and restore some of the investors' optimism.

Bitcoin maintains a key support level

The price of Bitcoin is currently quite stable, trading around $107,723, after a slight fall to a low of $105,157. The leading digital currency has bounced back from this support zone, demonstrating resilience.

However, the lack of strong upward momentum signals that Bitcoin is still searching for clearer bullish signals to continue its recovery.

BTC is currently facing a significant resistance level at $108,000 — a mark that it has yet to convert into solid support. Breaking through and holding above the $108,000 mark is a key condition for Bitcoin to aim for the target of $110,000 and maintain an upward trend in the near future.

BTC Price Analysis | Source: TradingViewIf the market experiences strong selling pressure from impatient investors, the price of BTC could slide below the $105,000 level and be pushed closer to the support area of $102,734, thereby threatening the current price structure. This scenario could signal an increase in pessimistic sentiment across the market.

Fartcoin remains above the 1 dollar

FARTCOIN has fallen 4% in the last 24 hours, becoming the leading altcoin with the worst performance of the day. Currently, this memecoin is trading at $1.05, just above the support zone of $1.02.

This price drop reflects the selling pressure that is still weighing on the market.

The 50-day EMA moving average has been broken in the correction phase. Regaining this important technical level will be very difficult if selling pressure continues to increase. If FARTCOIN continues to lose momentum, the price could fall below the $1 mark and even test the support area of $0.91. If it continues to weaken, the downtrend will be more clearly confirmed.

FARTCOIN Price Analysis | Source: TradingViewHowever, if FARTCOIN bounces off the support zone of $1.02, the bearish outlook could be reversed — especially if it regains the $1.1 mark.

The successful transition of the 50-day EMA from resistance to support will be a driving factor for FARTCOIN to approach the next resistance zone at $1.20, indicating the recovery potential of this altcoin.

Minh Anh