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Why Are Crypto Markets Up Today?

The crypto asset market added $3.42 billion to $2.54 trillion in the last 24 hours. Bitcoin
BTCUSD
rose slightly by 0.14% to $77,080 after recovering from Saturday's low. Roughly, the crypto market has only increased by 0.13% since yesterday's close, indicating uncertainty ahead of the last week of May.

ONDO surged 20% from the weekend low of $0.37 to $0.44. Trump's patient strategy toward Iran changed the geopolitical risk premium, pushing risk assets higher despite recent warnings.

In Today's News:-

Trump signaled a patient approach toward Iran, causing Brent crude to fall 4.44% to $98.9 and pushing the Japanese Nikkei 225 index above 65,000 for the first time.
Fake rumors of a surfing accident involving CZ triggered the launch of meme coins SEAZ and RIPCZ on Solana and BNB Chain, where most tokens have a market cap below $10,000.
Vitalik Buterin signaled ongoing power cuts at the Ethereum Foundation, confirming declining ETH sales as the organization now prioritizes longevity over operational expansion.
Crypto Market Capitalization Recovers After Iran's Patient Strategy Reassesses Risks

Total crypto market capitalization is now at $2.54 trillion after a sharp rebound from Saturday's low of $2.45 trillion. The previous weakness seemed due to liquidity actions, as traders digested various signals from Iran over the weekend.

Trump's patient strategy toward Iran kept risk-on flows going through Sunday and Monday. However, a social briefing on Monday morning indicated that the deal might be shaky due to Israeli pressure. This uncertainty now causes the market to hesitate at key resistance levels.

The market needs to break through $2.57 trillion, the Fibonacci 0.236 level that has limited movements since mid-May. After that, $2.64 trillion and $2.70 trillion become the next resistance levels on the upside.

If $2.45 trillion holds, the chance to rebound back to $2.57 trillion remains open. But if $2.45 trillion breaks, the risk of a deeper decline to $2.38 trillion should be watched.

Bitcoin Recovers Above $77,000 but Channel Risks Remain

Bitcoin traded at $77,080 on Monday, up slightly by 0.14% from Sunday’s close. BTC's movement aligns with risk-on sentiment following Iran's patient signals, but its structure remains fragile.

BTC has been moving within an upward channel since early February after dropping 40% from mid-January. This channel is a continuation pattern rather than a reversal. Bitcoin's price nearly broke above the upper trendline in early May before moving back toward the lower boundary of the channel.

Buy volume has been decreasing since mid-May, indicating demand is waning even as prices hold. The nearest risk is at $74,124, the lower boundary of the latest channel. This level is about 4% below the current price.

A daily close above $78,372 will target the upper trendline at $85,249 and the Fibonacci 0.618 level. Conversely, a close below $74,124 opens the possibility of a decline toward the channel floor at $70,479.

Ondo Finance (ONDO) Surges 20%

ONDO traded at $0.44 on Monday, up 5% over the last 24 hours. The token surged about 20% from Saturday’s low of $0.37, confirming it as a top gainer altcoin according to BeInCrypto last Friday.

The overall market rebound, driven by Iran's patient signals, gave ONDO a boost to breakout from the weekend lows. This action confirmed whale buying, as noted in Friday’s article.

ONDO needs a daily close above $0.45 to confirm strength. The candlestick wick on May 22 above $0.47 signals clear rejection, with selling pressure still active in that zone. The 20-day EMA, a short-term trend indicator, is now approaching the 200-day EMA. A bullish crossover would confirm a stronger new trend.

A breakout above $0.48 would open the way for ONDO to $0.58, while failure to hold could see the price fall back to $0.42 or even $0.39.