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Why Is the Crypto Market Rising Today?

On May 22, the crypto asset market increased by 0.19%, adding US$4.93 billion in market cap, bringing the total market capitalization to US$2.57 trillion, with the US$2.60 trillion decision zone becoming the main focus.

Bitcoin
BTCUSD
traded at US$77,699, up 0.20%, while bullish crossover signals are getting closer. NEAR Protocol
NEARUSD
led the top-100 gainers list with a 21% jump to US$2.10 after successfully breaking out of its upward channel.

Today's Featured News:-

Crypto open interest is now more than 50% below its peak in October 2025, according to CoinGecko's 2026 State of Crypto Perpetuals Report.
Charles Hoskinson, founder of Cardano, warned that research labs could shut down if the 32.9 million ADA proposal fails to pass before the June 8 voting.
Glassnode estimates that 6.04 million BTC, worth nearly US$500 billion, are at risk of future quantum computing attacks.
Crypto Market Capitalization Approaching US$2.60 Trillion Decision Zone

Total crypto market cap was at US$2.57 trillion on May 22, up 0.19% during the trading session. This increase added US$4.93 billion and brought the index closer to the US$2.60 trillion decision zone.

This rise was also driven by spectacular earnings reports from NVIDIA earlier this week, which boosted demand for AI assets and related cryptocurrencies.

On the other hand, SpaceX's IPO documents also revealed they hold 18,712 BTC worth approximately US$1.29 billion as of the end of Q1. This figure is more than double the estimates from blockchain trackers and reinforces the thesis of corporate Bitcoin holdings. The S&P 500 also closed up 0.17% on May 21, indicating a global risk-on trend influencing digital assets.

A daily close above US$2.60 trillion would resemble the pattern on May 4, when the index broke through that level and then rallied to US$2.72 trillion within days. However, the lower support at US$2.47 trillion has held since April 19 across various retests.

If the US$2.60 trillion level holds at close, the path toward US$2.72 trillion remains open. But if it fails to break through, total capitalization could revert to a consolidation range between US$2.53 trillion and US$2.47 trillion.

Bitcoin Forms Higher Low as EMA Crossover Approaches

Bitcoin
BTCUSD
traded at US$77,699 on May 22, up 0.20% during the session. This pattern extends the slow upward trend that has been shaping BTC's movement since the swing low on March 30. The 50-day exponential moving average
E
EMA
, as a trend-smoothing indicator, is now at US$76,821. Meanwhile, the 100-day EMA is at US$76,896. Both lines have converged within a narrow range, opening the possibility of a bullish crossover.

If this crossover confirms, momentum will shift. Therefore, BTC could break through US$80,195, which is the 0.236 Fibonacci level and the nearest resistance.

The price shift above also crosses the 20-day EMA at US$78,321. After that, the target rises to US$82,802 along with the 200-day EMA at US$81,642. If the daily price closes above US$80,195, the upward target opens to US$84,910 and the US$87,017 zone. However, if the daily close is below US$75,980, the risk of a trend reset to the downside increases.

NEAR Protocol
NEARUSD
Rises Rapidly Thanks to AI Privacy Feature Launch

NEAR Protocol
NEARUSD
was at US$2.10 on May 22, soaring 21% during the session and leading the top-100 gainers list. The increase occurred after a clean breakout from the upward parallel channel framing its price movement since early February. Meanwhile, this token's performance stood out as the broader crypto market approached US$2.60 trillion.

The main trigger was the automatic PII anonymization feature from NEAR AI launched on May 19. This feature removes sensitive data from prompts before reaching external models like ChatGPT and Gemini. This release strengthens NEAR's position as a preferred chain for AI agents and private execution, attracting capital flows from AI rotation.

The breakout happened with a large volume of 14.42 million NEAR, confirming the move further. Additionally, a measured projection from the breakout point estimates a 40% rally, making US$2.55 the technical target. If the price breaks above US$2.20, the potential to reach US$2.55 is significant, even possibly US$2.65 if overall market conditions improve.

However, the US$1.92 level acts as a boundary between continued gains and deeper corrections toward US$1.82 and US$1.74.