Why is the Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) continue to maintain sideways momentum. Emerging from the shadows of this lukewarm performance is Worldcoin (WLD), leading the altcoins with a 12% rise.

In the news today:-

• Hyperliquid’s upcoming stablecoin USDH has drawn competing proposals from Paxos and Frax Finance, each suggesting different design models. The rivalry highlights growing interest in shaping USDH’s role within the broader crypto ecosystem.
• China’s National Natural Science Foundation launched an Emergency Management Project on September 7, 2025, focusing on stablecoin risk governance. The initiative highlights cross-border regulatory cooperation concerns but does not pose immediate market impacts.

The Crypto Market Is In A Rut

The total crypto market cap is up $17.5 billion in 24 hours, now at $3.78 trillion. TOTAL has been consolidating between $3.81 trillion and $3.73 trillion over the last three days, reflecting cautious sentiment across digital asset markets.

This sideways movement is expected to continue until a broader financial catalyst emerges. A strong push from traditional markets or ETF inflows could help TOTAL flip $3.81 trillion into support. This would strengthen momentum for further gains across the cryptocurrency sector.

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Total Crypto Market Cap Analysis. Source: TradingView

However, worsening market conditions could drag TOTAL below its $3.73 trillion support. In such a case, TOTAL may fall toward $3.67 trillion, erasing recent gains and signaling heightened bearish pressure for crypto investors.

Bitcoin Is Sliding Sideways

Bitcoin’s price is at $111,207, maintaining support above $110,000 for the past few days. Despite this resilience, BTC has not managed to breach the $112,500 resistance level, leaving traders cautious about its short-term direction and overall market momentum.

If Bitcoin flips $112,500 into support, the price could target $115,000. Achieving this level would likely increase investor confidence and attract new capital inflows, potentially setting up conditions for a further push toward the psychological $120,000 resistance mark.

Bitcoin Price Analysis. Source: TradingView

On the other hand, failure to break $112,500 could keep BTC rangebound. If bearish pressure intensifies, Bitcoin risks slipping below $110,000 and falling toward $108,000. Such a move would invalidate the bullish thesis and reinforce downside risks for investors.

Worldcoin Surprises Investors

WLD price surged 12% in the last 24 hours, making it the best-performing altcoin of the day. Trading at $1.02, the token now faces resistance at $1.03, a crucial level that could determine its short-term trajectory.

If WLD breaks through the $1.03 resistance and flips it into support, the altcoin could target $1.08. Such a move would establish a monthly high and potentially attract renewed investor confidence, strengthening bullish momentum in the coming sessions.

WLD Price Analysis. Source: TradingView

On the downside, if investors decide to sell and take profits, WLD could fall back toward $0.90 or even lower. Such a drop would invalidate the bullish thesis and erase recent gains.