Why is the Crypto Market Up Today?
The crypto market has extended its rally for another day, with total market capitalization rising nearly 2% in the past 24 hours. Bitcoin (BTC) has posted a modest 1% price increase, supporting bullish sentiment. Layer-1 coin CRO stands out as the top gainer for the second consecutive day, outpacing broader market performance.
In the news today:-
Thailand’s Ministry of Finance has launched the world’s first publicly offered tokenized government bond under its G-Token project, partnering with KuCoin to bring blockchain innovation to sovereign debt markets.
Nvidia posted a record $46.7 billion in Q2 2025 revenue but faces mounting risks after losing access to Chinese markets. The company also spent $60 billion on stock buybacks, raising concerns as competition from China intensifies.
Crypto Market Rally Pushes TOTAL Above the $3.85 Trillion Floor
The total crypto market capitalization has increased by $64 billion over the past 24 hours, an uptick that reflects strong buy-side pressure in the digital assets market.
TOTAL currently stands at $3.86 trillion, holding above its newly established support floor at $3.85 trillion.
If this price floor strengthens and continues to provide a cushion, market momentum could push TOTAL higher toward the next resistance level, $3.94 trillion.
However, a slowdown in demand or a wave of profit-taking could cause TOTAL to test the $3.85 trillion support zone. A failed retest attempt might open the door for a deeper correction toward $3.73 trillion.
Bitcoin Holds Above $112,000 as Buying Pressure Grows
Leading coin BTC stands at $112,842 at press time, reflecting a 1% uptick in the past 24 hours. On the daily chart, the coin’s Balance of Power (BOP) indicator is climbing and remains positive, suggesting that, despite market volatility, buying activity is still going on.
The Balance of Power (BOP) is a technical indicator that measures the strength of buyers versus sellers in the market. A positive BOP value indicates bullish dominance, showing that buyers are actively pushing prices higher, while a negative value would suggest sellers are in control.
For BTC, the current positive reading signals continued accumulation, confirming the bullish sentiment. If the rally extends, BTC’s price could climb toward $115,764.
However, if profit-taking resumes, the coin risks a pullback toward $111,920, the nearest support level.
Cronos Extends Rally on Trump Media Hype
CRO has extended its rally for another day, continuing as the market’s top gainer. The token’s surge remains linked to reports earlier this week that Trump Media & Technology Group (TMTG), the company behind Truth Social, is exploring a strategy involving billions of dollars’ worth of CRO tokens.
If buying momentum continues, CRO’s price could reclaim $0.28.
On the other hand, a slowdown in demand may cause the token to slip toward $0.31, testing its short-term support zone.
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