The Crypto Market Is Edging Closer to a Key Resistance Level
The crypto market is near $2.95T resistance, with Bitcoin touching $87K before facing selling pressure. Cardano, The Graph, and Near Protocol gained, while BAT, Immutable, and Internet Computer fell. Near Protocol rose 130% in 30 days. QCP Capital attributes Bitcoin's rise to ETF inflows. Publicly listed mining companies wrote off $1.1B in asset value in H1 2026. The SEC proposed new crypto-asset custody rules.
How this was made
The 30-second read
Why it matters
SEC's custody rule proposal introduces new compliance costs, while Bitcoin's price action near $87K signals a technical test that could trigger volatility.
Market read
Regulatory news and technical price levels together shape short‑term trading considerations for major cryptocurrencies.
What to watch
Potential acceleration of institutional inflows via spot ETFs could offset regulatory headwinds.
Background
The article reviews the crypto market's proximity to a $2.95T resistance level and highlights recent price moves across major tokens.
Ticker impact
Cardano was a top gainer (+11.1%) in the latest crypto market move.
likely upward pressure from recent gains
Recent price surge may attract short‑term buyers.
Near Protocol gained 6.9% and has risen ~130% over 30 days.
likely upward pressure
Recent breakout and strong 30‑day rally support further buying.
Internet Computer slipped 1.1% as a minor underperformer.
stable to slight decline
Small move suggests no strong directional bias.
Bitcoin briefly touched above $87K on Monday morning, encountering selling pressure.
possible pullback after breakout attempt
Historical sell‑off at this level indicates resistance.
Market effects
SEC's proposed custody rules could tighten compliance for crypto firms, affecting market liquidity.
U.S. regulatory focus may influence global crypto trading volumes.
Regulatory developments in the U.S. often set precedents for worldwide crypto markets.
Counterpoint
If the SEC's rules are seen as overly restrictive, some investors may short crypto assets anticipating reduced demand.
Key entities
- RegulatorU.S. SEC
Proposed new custody rules for crypto advisers and funds.
- Research FirmQCP Capital
Commentary on Bitcoin inflows from spot ETFs.
