Bitcoin Eyes $70K as Crypto Market Capitalization Hits $2.22T

The crypto market capitalization has reached $2.22 trillion, returning to its two-week high levels.

This comes after a slower recovery pace compared to the early July rally, which may indicate waning buyer interest due to the lack of fundamental drivers for growth.

Among the top performers over the past week were with a gain of 14.3%, followed by and with both up 8.5% each.

Bitcoin has been testing the $65,000 level for four consecutive days without significant buying activity but also no sell-offs, suggesting a buildup of short positions above this level.

The next potential target for growth appears to be the $70,000 region, which is near the 200-day moving average and would shift sentiment in favor of buyers.