Why Is the Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) recovered over the last 24 hours, with the latter pulling back up above $80,000. As US President Trump hit a 90-day pause on all tariffs except China, the global financial markets recovered as well. Fartcoin (FARTCOIN) represented the altcoins with a nearly 42% rally in a single day.

In the news today:-

• The FBI uncovered a large Dark Web money laundering network led by Anurag Pramod Murarka, who laundered over $24 million for drug traffickers and crypto hackers. After his arrest a year ago, Murarka was sentenced to 121 months in prison for his role in the operation.
• The SEC approved options trading for BlackRock’s iShares Ethereum ETF after multiple delays. This move, initiated by Nasdaq last summer, allows investors to speculate or hedge against Ethereum price fluctuations without directly trading the ETF.

The Crypto Market Takes Its Gains Back

The total crypto market cap surged by over $165 billion in a single day following a positive shift in market conditions. US President Donald Trump’s decision to pause tariffs on all countries except China played a major role in fueling this significant rise in the market’s value.

The pause on tariffs, announced less than 24 hours after they went live, brought a sense of relief but also created uncertainty. Despite this, the bullish momentum could push the total market cap to breach past $2.61 trillion, rising from its current level of $2.56 trillion.

Total Crypto Market Cap Analysis. Source: TradingView

However, if this bullish trend fades, the total crypto market cap could slip below $2.50 trillion. Such a decline would erase a significant portion of the recent gains, invalidating the current bullish outlook.

Bitcoin Is Yet To Find Its Footing

Bitcoin’s price rose by 7% over the past 24 hours, trading at $81,725 at the time of writing. The cryptocurrency king attempted to break through the $82,503 resistance but fell short, leaving investors uncertain about the immediate future of the asset’s price trajectory.

Despite the failed attempt to breach $82,503, Bitcoin still has a chance to push past this key level. A successful breakout could send BTC toward $85,000, boosting investor confidence and potentially leading to a more sustained upward trend in the market.

Bitcoin Price Analysis. Source: TradingView

On the other hand, if Bitcoin continues its downward trend, it risks falling below the $80,000 support level. If this happens, BTC could reach the next support at $78,530, which would invalidate the current bullish outlook and extend the recent decline.

Fartcoin Takes The Lead

FARTCOIN emerged as the best-performing altcoin in the last 24 hours, rising nearly 42% to trade at $0.72. The meme coin successfully breached two key resistance levels, $0.60 and $0.69, signaling strong upward momentum and increased investor interest in the token.

Riding the wave of positive market conditions, FARTCOIN aims to secure $0.69 as a support level. If it can maintain this floor, the meme coin could rise toward $1.00, continuing its bullish trend. Investor sentiment will be key in sustaining this upward movement.

FARTCOIN Price Analysis. Source: TradingView

However, if investors decide to cash out and sell their holdings, FARTCOIN could fall through $0.69 or even dip below $0.60. This would invalidate the bullish thesis and erode the recent gains, reversing the positive momentum the meme coin has gained.