Why is the Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) are noting a slight recovery at the moment with the latter climbing above $110,000. Pump.fun (PUMP) is leading the altcoin market wih a 9.6% rise over the last 24 hours.

In the news today:-

• Shenzhen Futian Investment Holdings (SFIH) raised $700 million by issuing a Fitch-rated A-RWA-based digital bond on Ethereum. Listed in Shenzhen and Macau, FTID001 marks the first tokenized security on a public blockchain approved for trading on traditional exchanges.
• The Trump administration is reportedly exploring a Gaza post-war plan involving cryptocurrency and tokenized land to rehouse residents under a potential US-led takeover. The proposal, which includes selling tokenized land to fund reconstruction, has drawn sharp criticism from civil rights groups.

The Crypto Market Attempts Recovery

The total crypto market cap has climbed by $41 billion, reaching $3.75 trillion at the time of writing. TOTAL is trading above the $3.73 trillion support level, signaling short-term strength.

If bullish momentum holds, TOTAL could advance toward $3.81 trillion and flip it into support. Establishing this level would be critical in maintaining upward pressure. A successful breakout may pave the way for TOTAL to test $3.89 trillion, reinforcing the broader market’s positive outlook and supporting continued growth.

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Total Crypto Market Cap Analysis. Source: TradingView

However, if gains fail to hold, TOTAL risks losing ground. A decline below $3.73 trillion could trigger renewed selling pressure. In such a case, the total crypto market cap may fall toward $3.67 trillion, erasing recent progress and signaling weakness in the market’s ongoing recovery attempt.

Bitcoin Is Back Above $110,000

Bitcoin is trading at $110,362, attempting to reclaim $110,000 as a support level. Securing this threshold is critical for the crypto king to stabilize. A strong hold above support would strengthen investor sentiment.

BTC is currently stuck in a three-week downtrend. However, a breakout is possible if Bitcoin finds sufficient support from both the market and investors. The immediate target remains the $112,500 resistance level, which, if breached, could open the path for a stronger recovery in the coming sessions.

Bitcoin Price Analysis. Source: TradingView

If selling pressure increases, Bitcoin may lose ground once again. A drop below $110,000 could expose BTC to further downside risks. In this scenario, Bitcoin’s price may decline to $108,000 or even $105,585, invalidating the bullish thesis.

Pump.fun Is Pumping

PUMP price rose 9.6% in the past 24 hours, trading at $0.0036 at the time of writing. The altcoin currently sits just below the $0.0038 resistance while holding $0.0034 as its support level, showing resilience in maintaining short-term stability.

The Relative Strength Index remains above the neutral line, signaling that bullish momentum is building. If PUMP breaches $0.0038 and flips it into support, the token could push higher. Such a move would likely enable the altcoin to target the $0.0041 resistance, strengthening its short-term upward trajectory.

PUMP Price Analysis. Source: TradingView

However, if selling pressure from short-term investors emerges, PUMP could lose momentum. A pullback might drive the token down to retest $0.0034. Failure to hold this support could lead to further declines, undermining recent gains and invalidating the current bullish outlook.