Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) closed in green but failed to gain much over the last 24 hours. Bitcoin (BTC) remains rangebound while Kite (KITE) formed a new ATH following a 16.6% rise in the past day.

In the news today:-

• Kraken has acquired token management platform Magna in a deal aimed at strengthening its position ahead of a planned IPO. The acquisition will help Kraken support token issuers earlier in their lifecycle, potentially giving it a competitive advantage in future token listings.
• Nvidia is reportedly finalizing a $30 billion investment in OpenAI, replacing a previously proposed $100 billion multi-year partnership. The deal, part of OpenAI’s latest funding round valuing the company at $830 billion, would see significant capital reinvested into AI infrastructure, including Nvidia GPUs.

The Crypto Market Is Thriving on Breadcrumbs

The total crypto market cap gained $19 billion over the past 24 hours. TOTAL now stands at $2.29 trillion. While the rebound reflects improving sentiment, momentum remains below bullish expectations as investors weigh uncertain macroeconomic conditions and cautious institutional positioning.

The probability of TOTAL breaching $3.00 trillion remains balanced with downside risk. Macroeconomic signals lack clear direction, limiting conviction. A decisive move above $3.00 trillion and flipping it into support would strengthen bullish momentum and restore broader confidence across the crypto market.

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TOTAL Price Analysis. Source: TradingView

However, failure to sustain upward momentum could reverse recent gains. A rejection near resistance may push TOTAL back toward $2.22 trillion. Losing that support would signal rising panic selling, potentially extending the decline toward $2.12 trillion amid weakening market stability.

Bitcoin Continues To Disappoint

Bitcoin is trading at $67,360 at the time of writing. BTC remains just below the $67,674 resistance level. The cryptocurrency has been range-bound for nearly two weeks, reflecting indecision among traders as macroeconomic uncertainty limits sustained breakout momentum across the broader crypto market.

The primary resistance remains at $70,000, a psychological and technical barrier. Bitcoin has repeatedly failed to secure this level as support. A decisive breakout above $70,000 would likely restore bullish sentiment and attract renewed buying interest from institutional and retail investors.

Bitcoin Price Analysis. Source: TradingView

On the downside, the $65,000 level continues to act as critical support. This range floor has prevented sharper declines during recent pullbacks. Losing $65,000 would invalidate the near-term bullish thesis and could trigger accelerated selling pressure.

Kite Forms New ATH

KITE surged 16.6% in the past 24 hours, trading at $0.254 after forming a new all-time high of $0.256. Strong investor demand and sustained buying momentum have supported the breakout, reinforcing bullish sentiment across the broader altcoin market.

The next major resistance stands at $0.300, which would mark another all-time high. Achieving this target will require continued capital inflows and strong spot demand. Sustained accumulation from short-term and long-term holders could propel KITE toward this milestone.

KITE Price Analysis. Source: TradingView

However, overbought conditions may introduce downside risk. If buying pressure begins to fade, profit-taking could intensify. A pullback toward the $0.207 support level would signal cooling momentum and test the strength of recent bullish structure.