Why Is The Crypto Market Up Today?

The total crypto market cap improved slightly over the last 24 hours, rising by $24 billion. Bitcoin (BTC) remained virtually unmoved following a volatile day as it slipped below $90,000. Among the altcoins, MYX Finance (MYX) emerged as the leader, increasing by 17.5% today.

In the news today:-

• Argentina’s LIBRA investigation reaches a critical point as Congress releases its final report today, coinciding with suspicious on-chain movements. Two long-dormant wallets linked to the case suddenly liquidated $58 million in USDC and moved the funds into SOL, triggering renewed scrutiny.
• Kraken raised $800 million at a $20 billion valuation, with Citadel Securities contributing $200 million in a major TradFi-to-crypto investment. The funding strengthens Kraken’s expansion across trading, payments, and tokenized assets, signaling growing Wall Street confidence in regulated crypto platforms.

The Crypto Market Is Finding Its Way Back Up

The total crypto market cap increased by $24 billion in the past 24 hours, reaching $3.12 trillion as momentum strengthened across major assets. TOTAL is fluctuating between $3.16 trillion and $3.09 trillion.

A break above $3.16 trillion will depend on stronger market support and sustained investor confidence. Clearing this resistance may trigger a short-term rally toward $3.21 trillion as capital flows increase. Improving macro conditions and higher risk appetite could reinforce this upward trajectory and attract additional institutional inflows.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Total Crypto Market Cap Analysis. Source: TradingView

If market conditions weaken, a fall below $3.09 trillion becomes increasingly likely, signaling fading momentum. That decline could push TOTAL toward $3.05 trillion as traders shift to defensive positions. Heightened volatility and reduced liquidity may accelerate this move, prompting investors to reassess short-term exposure.

Bitcoin Saves Face

Bitcoin trades at $92,180 and holds above the $91,521 support level after a sharp dip below $90,000. The quick rebound shows renewed buyer interest and stronger liquidity.

Bitcoin has recovered, yet it still lacks a clear trend as it hovers near key resistance. A move toward $95,000 could strengthen momentum and set up a push to $98,000 if demand increases. Rising market confidence and higher trading activity may support this advance in the coming sessions.

Bitcoin Price Analysis. Source: TradingView

If Bitcoin fails to extend its rally, it risks slipping below $91,521 and losing recent gains. A break of that support could send the price under $90,000 and weaken the bullish outlook. Falling momentum, reduced liquidity, or broader market pressure may accelerate this downside scenario.

MYX Finance Nears $3

MYX Finance surged 17.5% in the past 24 hours and trades at $2.93, placing the altcoin near the key $3.00 resistance level. Strong buyer demand and rising volume supported the rally. 

MYX bounced from the $2.46 support level, signaling renewed strength and sustained interest from traders. The Parabolic SAR shows an active uptrend that could propel the price above $3.00. If momentum holds, MYX may target $3.30 as investors respond to improving market conditions and broader altcoin demand.

MYX Price Analysis. Source: TradingView

If bullish momentum weakens, MYX risks failing to break the $3.00 resistance, which may trigger a pullback. Such a decline could send the price back toward $2.46 and weaken confidence.