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The total crypto market cap stands around 1.97 trillion dollars. It's sinking down for the third month in a row and is down by about 10% in this particular month. The market testing the lower extremes or close level of a retraced month for potential supports as its confluent with the mean of the current macro balanced price range which might establish.
The daily perspective found some support around a prior Quarter’s VWAP close level and brought the market into a balanced state. Currently the market testing the lower extreme of that particular bracket which is confluent with this Quarter’s DVAL for support. Rotations towards the upper extreme is possible. However, recent news of Russian potential blanket ban on crypto use and creation might be a pressure factor while lower supply may still boost the value, depending on the viewpoint of the traders as well.
The intra-day perspective is rotational, keeping the attention to the extremes while the lower developing DVAL might be serving as spot of possible support. Also, the lower DVAL close level could be supportive for upwards rotations on the daily as HTF viewpoint.
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