Cryptocurrency Market Resilience Amid Global Turmoil

The cryptocurrency market has shown a surprising level of stability, with its total capitalization remaining at $2.34T over the past 24 hours. This is noteworthy considering the significant losses experienced by the US Nasdaq100 index, which lost more than 2.5% intraday before recovering half of its losses.

Bitcoin has been a standout performer, breaking through resistance levels and reaching $71.7K in just five hours at the start of the European trading session. This momentum is also reflected in the RSI index on weekly timeframes, which has begun to rise from oversold territory.

However, analysts are cautioning that Bitcoin's growth remains fragile due to the increased volatility in stock indices, which may force institutional investors to reduce their leverage and affect market sentiment.