Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) rose in the last 24 hours, with the latter still attempting to cross a crucial barrier in order to initiate recovery. Following these bullish cues, Pepe (PEPE) emerged as the best-performing altcoin of the day, rising by 24%.

In the news today:-

• Senators Elizabeth Warren and Andy Kim urged the Treasury Department to review a $500 million investment in Trump-linked World Liberty Financial by a UAE government-affiliated entity. They asked whether the deal warrants a national security probe by the Committee on Foreign Investment in the United States.
• Crypto scammers are targeting Ledger and Trezor users by mailing fake letters that impersonate the wallet providers. The letters urge recipients to complete urgent “checks” and scan QR codes, tricking them into revealing recovery phrases used to steal their funds.

The Crypto Market Remains In Green

The total crypto market cap climbed by $56 billion within 24 hours, standing at $2.39 trillion at the time of writing. TOTAL has approached this resistance area several times over the past week, finally breaking through today.

As upside pressure increases, TOTAL now sets its sights on $2.45 trillion as the next key barrier. A decisive move above that level may pave the way toward $2.64 trillion. Continued positive sentiment and steady capital inflows would be necessary to maintain this upward recovery path.

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TOTAL Price Analysis. Source: TradingView

Should negative momentum resurface early in the week, downside exposure persists. A break beneath $2.37 trillion may drag TOTAL toward $2.30 trillion. If selling intensifies, losses could deepen to $2.22 trillion, highlighting renewed weakness across the broader crypto market.

Bitcoin Is Attempting a Breakout

Bitcoin price trades at $70,381 at publication, remaining capped below the $70,610 resistance level. This barrier continues to limit upside momentum. The crypto king requires stronger bullish catalysts to secure a decisive breakout and confirm renewed recovery in the broader cryptocurrency market.

The Moving Average Convergence Divergence indicator shows strengthening bullish momentum after a confirmed crossover. This technical shift signals improving buyer dominance. If sustained, BTC could attempt a rally toward $73,499, reinforcing the short-term upward price structure.

Bitcoin Price Analysis. Source: TradingView

However, failure to maintain bullish momentum would increase downside risk. A rejection near resistance could send Bitcoin toward $62,156. Extended weakness may push BTC to $60,000, invalidating the current bullish thesis and reintroducing heightened market volatility.

Pepe Emerged as the Winner

PEPE led altcoin gains, rising 24.6% in 24 hours to trade at $0.00000470 at publication. The meme coin also broke above its 50-day exponential moving average, signaling strengthening bullish momentum. This breakout reflects renewed speculative demand across the broader cryptocurrency market.

Technically, PEPE now targets $0.00000497 as the next resistance level. A confirmed move above that barrier could push the price toward $0.00000544. Sustained upside would help recover recent losses and reinforce the short-term rally structure.

PEPE Price Analysis. Source: TradingView

If bullish momentum weakens or holders begin profit-taking, downside risk increases. A pullback toward $0.00000424 could emerge. Further selling pressure may send PEPE to $0.00000390, invalidating the current bullish thesis and reversing recent gains.