Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) recovered by nearly $200 billion over the last 24 hours. Bitcoin (BTC) also jumped from $86,400 to $92,700 in the same duration. Altcoins also followed suit with Sui (SUI) price jumping 23% over the past day.

In the news today:-

• Ethereum will roll out its Fusaka upgrade on December 3, 2025, introducing PeerDAS to significantly boost Layer 2 scalability. This is the network’s second major upgrade of the year, following the Pectra fork that previously triggered a 29% ETH rally.
• US authorities seized a scam-linked web domain tied to Burma’s Tai Chang compound in an effort to disrupt regional fraud networks. The action coincided with a sanctioned Cambodian financial group freezing withdrawals amid rising US and U.K. regulatory pressure.

The Crypto Market Bounces Back

The total crypto market cap jumped by $200 billion in the last 24 hours, reaching $3.10 trillion. TOTAL surged after the US Federal Reserve ended quantitative tightening on Tuesday. This is improving risk sentiment and driving strong inflows into major cryptocurrencies.

TOTAL is now aiming for the $3.16 trillion resistance level, which it must breach to maintain upward momentum. Securing $3.09 trillion as a stable support will be crucial for sustaining this rally and enabling further growth across the market.

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Total Crypto Market Cap Analysis. Source: TradingView

If volatility returns and conditions shift again, TOTAL may fall through $3.05 trillion and retrace toward $2.93 trillion or even lower. Such a move would signal weakening demand and temporarily invalidate the bullish outlook.

Bitcoin Breaches Key Barrier

Bitcoin bounced back over the last 24 hours, trading at $92,712 at the time of writing after breaking above the $91,521 barrier for the first time in nearly two weeks. This rebound signals renewed strength as market sentiment improves following days of uncertainty.

BTC will likely extend this uptrend if broader market cues remain supportive. A continued push could drive Bitcoin’s price toward $95,000. Flipping that level into support is essential for sustaining further gains and confirming a stronger recovery structure.

Bitcoin Price Analysis. Source: TradingView

If bullish momentum weakens, Bitcoin’s price could slip back under $91,521 and fall toward $89,800. A drop below that level would signal fading demand and invalidate the short-term bullish outlook, exposing BTC to deeper retracements.

Sui Leads The Altcoins

SUI price is up 23% in the last 24 hours, trading at $1.65 at the time of writing and holding firmly above the $1.60 support level. The altcoin has become one of the day’s strongest performers as buyers return following a volatile week.

The RSI reflects improving momentum and now sits near the neutral 50.0 mark. A decisive move above this level would confirm a shift from bearish to bullish sentiment. This would potentially drive SUI past $1.75 and toward the $2.00 region if demand continues to build.

SUI Price Analysis. Source: TradingView

If bullish momentum weakens and holders move to secure profits, SUI could slip below $1.60 and fall toward $1.49. Losing this support would invalidate the bullish thesis and expose the altcoin to a deeper decline toward $1.31.