Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) observed a positive weekend, but the start to the week is slightly slow. Nevertheless, the altcoins are performing good, led by Floki (FLOKI) with a 14% rise in the last 24 hours.

In the news today:-

• British Columbia will permanently ban new crypto mining projects from accessing government electricity to protect its power supply. The province said the move ensures its clean-energy resources serve long-term Canadian economic and environmental priorities.
• Solana co-founder Anatoly Yakovenko unveiled “Percolator,” a prototype on-chain perpetual futures DEX built on Solana, urging developers to adopt the concept. The AI-assisted project uses a sharded “slab” structure to boost transaction speed and prevent cross-market contagion in decentralized trading systems.

The Crypto Market Grows Cautiously

The total crypto market cap rose by $12 billion in the last 24 hours, signaling mild investor optimism. TOTAL currently stands at $3.66 trillion, showing cautious recovery amid mixed market sentiment.

Despite limited growth, TOTAL’s position above the $3.67 trillion level suggests potential for stabilization. Holding this crucial support could lead to a rebound, pushing the total crypto market cap toward $3.73 trillion. 

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Total Crypto Market Cap Analysis. Source: TradingView

However, renewed bearish pressure could drag the market lower. If investors remain cautious and risk aversion intensifies, TOTAL might lose momentum and fall toward the $3.56 trillion support. A break below this threshold could trigger broader selling and extend the current consolidation phase across major crypto assets.

Bitcoin Is Yet To Reclaim $110,000

Bitcoin’s price is hovering at $109,505, striving to break above the key $110,000 threshold. This psychological resistance serves as a crucial level for market confidence. A successful breach would confirm renewed bullish momentum.

If Bitcoin maintains its upward momentum, the crypto king could rally toward $112,500 and potentially $115,000. Such movement would help recover recent losses and reestablish short-term optimism.

Bitcoin Price Analysis. Source:: TradingView

A daily close below $108,918, however, would weaken this structure and could bring back the bearish mood, pushing prices However, persistent investor skepticism may stall the recovery. Should profit-taking intensify, Bitcoin’s price risks another decline toward $108,000 or possibly $105,585. Losing these supports could trigger short-term volatility,

Floki Takes the Lead

FLOKI price surged 14% in the past 24 hours, reaching $0.00007643 at press time. The meme coin is gaining notable traction as investor support is strengthening.

While FLOKI has yet to break through the $0.00007996 resistance, it remains positioned for a potential rebound. A bounce from the $0.00007414 support zone could propel the token toward $0.00008543.

FLOKI Price Analysis. Source: TradingView

However, profit-taking could derail the recovery. If selling pressure intensifies, FLOKI price risks slipping below $0.00007414, testing lower supports at $0.00007000 and $0.00006376. Losing this critical range would invalidate the bullish outlook.