Why Is The Crypto Market Up Today?

The total crypto market cap (TOTAL) and Bitcoin (BTC) closed in green on Monday, starting the week on a positive note. The majority of altcoins followed these cues as well, with Hyperliquid (HYPE) leading the rise with a 23% rise.

In the news today:-

• FTX users and law firm Fenwick & West have reached a proposed settlement in a 2023 class-action lawsuit alleging the firm helped facilitate the fraud behind FTX’s collapse. The settlement terms remain undisclosed, with court proceedings paused ahead of a formal approval request scheduled for February 27.
• Newly released Epstein files reveal that Jeffrey Epstein received a March 2019 email flagging a “massive controversy” over Coinbase’s acquisition of blockchain analytics firm Neutrino. The message, sent by finance consultant Richard Kahn, referenced claims linked to Kraken’s CEO and mentioned Ripple’s XRP in connection with the issue.

The Crypto Market Bounces

The total crypto market cap gained momentum after Binance purchased 1,315 BTC, worth over $101 million, for its Secure Asset Fund for Users. This move reinforced confidence in exchange-led risk management. As sentiment improved, investors interpreted the action as a strong bullish signal for the broader crypto market outlook.

Following this development, TOTAL increased by $47 billion over the last 24 hours, reaching $2.61 trillion. Sustained buying pressure and improving liquidity could extend this rally. If market confidence holds, the total crypto market cap may climb toward the $2.74 trillion level in the near term.

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TOTAL Price Analysis. Source: TradingView

However, the bullish momentum remains fragile amid macro uncertainty and uneven demand. If confidence fades or selling pressure returns, TOTAL may struggle to hold current levels. Under weaker market conditions, the total crypto market cap risks declining back toward $2.50 trillion, invalidating the recent short-term recovery.

Bitcoin Has Barriers To Breach

Bitcoin’s price showed modest improvement, rising to $78,436 over the past 24 hours. The move brought BTC closer to the $80,000 level, reinforcing short-term recovery hopes. Still, market data suggests that breaking above this psychological threshold remains challenging amid cautious trading volumes.

If Bitcoin decisively crosses $80,000 in the coming days, bullish momentum could accelerate. This level represents a key psychological and technical barrier. A confirmed breakout may strengthen investor confidence and open the path toward testing the $82,503 resistance, signaling a continuation of the broader recovery trend.

BTC Price Analysis. Source: TradingView

However, failure to sustain momentum above $80,000 could reverse recent gains. Persistent selling pressure or weakening sentiment may push Bitcoin lower. Under this scenario, BTC risks retracing toward the $75,895 support zone, which previously acted as a demand area during recent market pullbacks.

Hyperliquid Leads The Gains

HYPE emerged as the best-performing altcoin, surging 23.3% in the past 24 hours. The rally pushed the token to $37, positioning it just below the $38 resistance. Strong volume and improving sentiment supported the move, placing HYPE among the day’s top gainers.

If Bitcoin maintains its current uptrend, bullish spillover could lift HYPE above $38. A confirmed breakout would likely attract additional inflows. With Bitcoin’s strength supporting risk appetite, HYPE may extend gains toward $42, reinforcing the short-term bullish price prediction.

HYPE Price Analysis. Source: TradingView

However, upside momentum remains vulnerable to broader market shifts. If buying pressure weakens, HYPE could fail to hold current levels. A rejection near resistance may trigger a pullback toward $34, with deeper downside risk extending to $30, invalidating the prevailing bullish outlook.