Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) is showing some signs of recovery, having risen by over $88 billion. Bitcoin is providing the market support, having reclaimed $86,000 as a support level. Among the altcoins, Hedera (HBAR) emerged as the best-performing altcoin of the day, rising by 14% in 24 hours.

In the news today:-

• South Korea’s Naver Financial and Dunamu, the operator of Upbit, are set to merge, with board approvals expected on November 26. A joint announcement is planned for November 27, creating a major force connecting traditional finance and digital assets.
• Bitwise CIO Matt Hougan warns that Digital Asset Treasury Companies are widely mispriced, urging investors to look beyond simple crypto holdings when evaluating them. He notes that while many DATs trade at discounts, some can trade at premiums by increasing crypto-per-share value.

The Crypto Market Jumps

The total crypto market cap has risen by $88 billion in the past 24 hours, reaching $2.95 trillion after successfully flipping the $2.93 trillion level into support. This shift signals renewed confidence and early signs of stabilization following a period of heightened volatility across major digital assets.

With the market appearing to have bottomed out, recovery momentum is building. Strengthening sentiment could lift the value of leading cryptocurrencies and push TOTAL toward the $3.00 trillion mark. Continued inflows and improving macro conditions may further support this upward move.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Total Crypto Market Cap Analysis. Source: TradingView

If uncertainty returns, the market may struggle to hold current levels. A drop back below $2.93 trillion could send TOTAL toward $2.87 trillion or even $2.80 trillion. Weakening demand and rising risk-off behavior would increase the likelihood of this downside scenario.

Bitcoin Crosses Crucial Price Point

Bitcoin trades at $87,549 and remains above the key $86,822 support level as it attempts a rebound. The crypto king is showing early signs of recovery, with traders watching for momentum toward the $90,000 zone as broader sentiment slowly improves.

For Bitcoin to advance further, it must break the $89,800 resistance and flip it into support. Securing $91,521 as a stable floor would strengthen bullish momentum and open the door for a continued climb. Strong inflows and rising confidence would be essential for this move.

Bitcoin Price Analysis. Source: TradingView

If Bitcoin fails to sustain its recovery, downside risks remain. A drop toward $85,204 or below $85,000 could signal weakening sentiment and invalidate the bullish thesis. Continued selling pressure may push BTC further to $82,503 as market uncertainty grows.

Hedera Takes The Lead

HBAR is the strongest performer of the day after jumping 13.8% in the past 24 hours. The token now trades at $0.150, sitting just below the key $0.154 resistance level as buyers attempt to maintain momentum amid improving market sentiment.

For HBAR to extend its climb, it must break above $0.154 and convert it into support. A successful breakout could fuel a move toward $0.162 and eventually $0.175. This is possible provided HBAR is supported by rising demand and strengthening technical indicators that favor continued upside.

HBAR Price Analysis. Source: TradingView

If investors begin taking profits, HBAR may lose momentum and slip back below $0.145. A deeper decline could send the price toward $0.133 or lower. This would invalidate the bullish thesis and signal renewed weakness as selling pressure increases.