Why Is The Crypto Market Up Today?

The total cryptocurrency market capitalization increased by $61 billion to $2.31 trillion on Monday, successfully maintaining support above the crucial $2.30 trillion level despite ongoing Middle East volatility. The next key resistance for the total market cap is $2.37 trillion; failure to break this could lead to a pullback toward $2.22 trillion.

Bitcoin (BTC) is trading at $68,158, remaining below the $70,000 psychological resistance level, indicating investor indecision. If buying pressure increases, breaching $72,294 could trigger upward momentum, but failure to hold could see BTC test supports at $66,224 and $65,000.

Among altcoins, Near Protocol (NEAR) showed significant strength, rising 23% to $1.41, holding above $1.36 support, with positive Chaikin Money Flow suggesting continued inflow dominance. The next resistance for NEAR is $1.50, while a drop below $1.25 support would invalidate the current bullish outlook. The article also noted regulatory setbacks, including the passing of the White House's stablecoin deadline without a deal and the indictment of Paxful founder Ray Youssef by the US DOJ.

(Source：BeInCrypto)