Crypto Market Today: BTC Holds $77K, ETH Slips Below $2,200, XRP Consolidates as Zcash Surges 5%

Crypto Market today showed modest strength as traders weighed regulatory hopes, ETF flows, and mixed token signals. 

Over 24 hours, the total valuation increased by 0.68% to $2.57 trillion. Bitcoin price remained around $77,000 while Ethereum remained under pressure under $2,200. 

XRP price continues to hover around support levels while Zcash price continues to outperform, Pi Network upgrades remain in the spotlight and investors are waiting for clearer price direction.

Crypto Market Consolidates as Bitcoin Price Holds Firm Near $77K

The crypto market opened on Wednesday with a cautious optimism after an uneven run on key assets.

The CLARITY Act and the tokenized stock trading plans reignited interest in the market, which led to a rise in confidence. Investors also monitored payment access reviews that may alter banking connections for crypto companies in the near future.

Despite significant liquidations among leveraged traders, Bitcoin price remained near $77,000. Bitcoin dominance rose to 60.25% as it showed better demand than most of the other Altcoins.

Analysts now see $78,000 as the first major resistance area for Bitcoin. A decisive gap may pave the way to the $80k mark. The downside watch zone is at $76,700 for traders.

The sentiment also strengthened in Asian trading hours following a vote in the U.S. Senate that helped reduce geopolitical concerns. That outcome put a dent in Trump’s Iran war powers.

Ethereum Price Struggles Below $2,200 While Whale Activity Raises Caution

Ethereum price continued to lag behind Bitcoin with its buyers not being able to take the $2150 level. If the price of ETH manages to cross above that threshold, it will head toward $2,250.

But if the rejection occurs near this level of resistance, it could trigger another drop for Ethereum as far as $2,000.

This has also raised concerns among large Ethereum holders across the digital asset sector. At least 10,000 ETH have been moved out or clustered in whale wallets, according to reports.

This is usually a symptom of reduced confidence by large players during market downturns. New demand will likely have a drag effect on sentiment should it remain weak.

The flow of funds into ETFs was another negative sign for investors. Bitcoin spot ETFs in the U.S. witnessed the net withdrawal of $331 million on May 19.

Approximately $326 million of those outflows stemmed from BlackRock’s IBIT. Spot Ethereum ETFs also posted $62.30 million in total net outflows.

Bitwise’s ETHW (Ethereum Wallet) had the highest single day inflows within the Ethereum products family at $0.76 million.

Zcash Leads Altcoin Gains as XRP Tests Key Support for Potential Recovery

XRP price was near an important support level while traders anticipated a possible recovery. If buyers hold up the zone, XRP may try to recover to $1.40.

But if the breakdown happens, it can slow that movement and make things difficult to get going. However, for the moment, XRP is consolidating following recent price corrections.

Zcash price was one of the top movers of major altcoins. ZEC price jumped 5% to $579.78 in 24 hours, outperforming Bitcoin’s gains.

This shift seemed to be part of capital shifting to better altcoin positions. Zcash has gained sharply over the past month, rising about 90%.

Traders should watch for the $600 resistance level if ZEC crosses above this threshold. Any move below $550 would see a return to $520.

Following new upgrade talks, Pi Network price also remained on traders’ watchlists. The key focus of the community was V23 updates, node changes and protocol migrations towards the future.

The project has been indicating a V26 protocol upgrade will take place on June 22. There are reports of expectations for node decentralization and empowerment moves in the period from mid-June to early-July.  Overall, the crypto market is still upbeat but fragile, waiting for more solid confirmation signals.