Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) established themselves above support in the last 24 hours. However, it was the altcoins that stole the spotlight, and leading them was Pippin (PIPPIN) with a 37% rise.

In the news today:-

• Revolut launched full banking operations in Mexico, marking its first licensed bank outside Europe after securing approval through a direct regulatory application. Backed by over $100 million in capital, the digital bank entered the market with strong capital ratios and top-tier credit ratings, signaling a long-term commitment.
• Russian authorities appear to be intensifying a technology-based crackdown on crypto media, with users reporting widespread access disruptions. Testing and network diagnostics suggest the outages may follow a coordinated pattern, though no official explanation has been provided.

The Crypto Market Nears $3 Trillion

Bitcoin trades near $88,905 at the time of writing, consolidating between $90,000 and $88,327. This range has previously acted as a pause zone before directional moves. Price stability here suggests the market is awaiting clearer signals before committing to a breakout or renewed decline.

Clear bullish catalysts remain limited, but on-chain flows show improvement. The Chaikin Money Flow indicates easing outflows, pointing to stabilizing demand. Reduced selling pressure could allow buyers to regain control, helping Bitcoin reclaim $90,000 and potentially extend gains toward the $93,884 resistance.

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TOTAL Price Analysis. Source: TradingView

The downside scenario remains active if momentum weakens. A loss of the $88,327 support would expose Bitcoin to further downside risk. Under that outcome, price could slide toward the $86,622 level, invalidating the bullish thesis and reinforcing short-term bearish pressure.

Bitcoin Aims at Crossing $90,000

Bitcoin trades near $88,905 at the time of writing, consolidating between $90,000 and $88,327. This range has previously acted as a pause zone before directional moves. Price stability here suggests the market is awaiting clearer signals before committing to a breakout or renewed decline.

Clear bullish catalysts remain limited, but on-chain flows show improvement. The Chaikin Money Flow indicates easing outflows, pointing to stabilizing demand. Reduced selling pressure could allow buyers to regain control, helping Bitcoin reclaim $90,000 and potentially extend gains toward the $93,884 resistance.

The downside scenario remains active if momentum weakens. A loss of the $88,327 support would expose Bitcoin to further downside risk. Under that outcome, price could slide toward the $86,622 level, invalidating the bullish thesis and reinforcing short-term bearish pressure.

Pippin Leads Altcoins’ Gains

PIPPIN trades near $0.524 at the time of writing, holding just above the $0.514 support level. The altcoin posted a 37% gain over the past 24 hours, reversing Tuesday’s losses. Strong momentum reflects renewed speculative interest as buyers returned aggressively.

PIPPIN surged 76% today, driven by rising demand for risk-on assets. The move brings the price closer to the $0.720 all-time high, now 36% away. Reclaiming and holding $0.600 as support would confirm strength and set up a potential run toward the ATH.

PIPPIN Price Analysis. Source: TradingView

Downside risk persists if momentum fades. Failure to defend the $0.514 support could invite selling pressure. Under that scenario, PIPPIN may slide toward the $0.434 support zone. A breakdown there would invalidate the bullish thesis and signal a deeper corrective move.