Bitcoin (BTC) and Ethereum (ETH) are holding steady near key price regions, indicating a potential breakout in the market.
Chart analysis by DaanCrypto shows the total crypto market cap repeatedly testing boundaries around $3.33 trillion and $3.19 trillion, hinting at an imminent decisive move.
The DeFi sector is witnessing a surge, with platforms managing nearly $60 billion in assets due to increased institutional participation and demand for tokenized real-world assets.
Leading DeFi protocols like Aave and Maker are experiencing growth in deposits, highlighting the renewed interest in DeFi yield opportunities.
The market's compression alongside DeFi's growth creates a potentially bullish setup, with historical patterns suggesting a breakout after tight consolidations in the total crypto market cap.
A breakout above $3.33 trillion or below $3.19 trillion could determine the next major trend in the broader crypto space.