Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) are closing in green after US President Donald Trump announced they eliminated Iran’s Supreme Leader Ali Khamenei on Sunday. Altcoins followed suit with LayerZero (ZRO), marking a 12% rise in the last 24 hours.

In the news today:-

• Morgan Stanley has applied for a national trust bank charter to custody digital assets, signaling deeper expansion into crypto services. The proposed “Morgan Stanley Digital Trust” would hold digital assets and support client transactions, including trading, transfers, and staking.
• Minnesota lawmakers have introduced a bill to ban crypto kiosks, citing a rise in scams targeting older residents. Law enforcement officials say Bitcoin ATMs are frequently used by fraudsters to exploit victims and drain their savings.

The Crypto Market Bumps

The total crypto market cap climbed by $23 billion over the last 24 hours, bringing the total market cap to $2.27 trillion at the time of writing. The rebound followed confirmation from US President Donald Trump regarding the elimination of Iran’s Supreme Leader Ali Khamenei.

Despite the surge, the market remains capped below the $2.30 trillion threshold, a level that must be cleared and held to maintain upward momentum. If buyers continue to step in, TOTAL could extend gains toward $2.37 trillion in the near term. Improving macro conditions and steadier global financial markets are adding support to the bullish case.

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TOTAL Price Analysis. Source: TradingView

That said, continued upside will largely hinge on broader market sentiment. Should global equities turn negative at the start of the week, risk appetite could weaken, potentially pulling TOTAL back toward $2.22 trillion. A breakdown below that support would undermine the current recovery structure and likely increase volatility across the crypto sector.

Bitcoin Reclaims $65,000

At the time of writing, Bitcoin is priced at $66,444, sitting just under the $68,830 resistance zone. This level continues to act as a major hurdle for near-term price strength. A clear move above it would likely pave the way for a push toward $70,000, with room for additional upside beyond that mark.

While BTC is working to rebound from losses earlier in the week, it has yet to flip $68,830 into a confirmed support level. Holding firmly above this area would reinforce the bullish setup. If buyers manage a sustained breakout, the next upside target stands around $72,294, which could further accelerate positive momentum.

Bitcoin Price Analysis. Source: TradingView

On the flip side, risks remain if sellers regain control. A drop back to $66,224 would put immediate support to the test. Should that floor give way, Bitcoin could slide toward $65,000, effectively negating the short-term bullish scenario.

LayerZero Jumps 12%

ZRO price surged nearly 12% in the last 24 hours, trading at $1.81 at the time of writing. The altcoin reached a two-week high as buying momentum strengthened. This breakout signals renewed short-term interest, positioning ZRO among today’s stronger-performing crypto assets in the market.

ZRO now faces immediate resistance at $1.90, a critical technical barrier. A decisive breakout above this level could open the path toward $2.00. Sustained bullish momentum would allow ZRO to target $2.13, effectively recovering its February losses and confirming strengthening upside structure.

ZRO Price Analysis. Source: TradingView

However, profit-taking remains a key risk. If investors begin selling into strength, ZRO could slip below $1.75 support. A breakdown may extend losses toward $1.58. Such a move would invalidate the bullish thesis and reinforce renewed downside pressure in the short term.