Why Are Crypto Asset Markets Rising Today?

The total market capitalization of cryptocurrencies increased by US$115 billion in the last 24 hours, up 4.83% as Bitcoin
BTCUSD
surged nearly 6% and RaveDAO (RAVE) jumped more than 70%.

This massive rally occurred because hopes of easing US-Iran tensions triggered risk-on sentiment across the crypto markets. Meanwhile, a large short squeeze liquidated over US$236 million in short positions, according to Coinglass data.

Today's News:

Bitcoin's 5.7% rally to US$75,000 triggered crypto asset liquidations totaling US$541 million, with short traders losing US$440 million after Strategy announced a BTC purchase worth US$1 billion.
Errol Musk called cryptocurrencies the “future of the financial world” in an exclusive interview with BeInCrypto, revealing that his son, Elon and Kimbal, hold 23,400 BTC worth about US$1.6 billion.
X Product Head Nikita Bier hinted that the platform will launch something to “improve” the difficult crypto year, sparking speculation about new trading and payment features.
Total Crypto Market Cap Tests Critical 100-Day SMA

The total market cap of cryptocurrencies (TOTAL) increased by US$115 billion in the last 24 hours, rising from below the Fibonacci level 0.618 to above it. On Monday, TOTAL closed above the Fibonacci 0.618 level at US$2.45 trillion, which now serves as the nearest support.

However, the nearest resistance is at the 100-day simple moving average (SMA) at US$2.54 trillion. This level is very important because TOTAL has not closed above the 100-day SMA since October 2025. If it successfully breaks through on a daily basis, it could signal the end of a months-long downtrend.

If the bulls manage to reclaim the 100-day SMA, the next target is the Fibonacci 0.5 level at US$2.6 trillion.

However, if TOTAL fails to hold above the 0.618 level at US$2.45 trillion, it indicates recovery efforts are being stalled.

BTC Price Faces Most Important Test Since October 2025

BTC surged nearly 6% in the last 24 hours. This rally fueled a short squeeze, with over US$236 million in short positions liquidated according to Coinglass data.

Currently, bulls are struggling to conquer the 100-day SMA at US$75,164. Like TOTAL, BTC has not closed above the 100-day SMA since October 2025. This level is one of the most critical technical tests of the year.

If BTC can close above the 100-day SMA, it could signal a broader trend reversal and open the way toward the Fibonacci 0.5 level at US$76,662.

However, if bulls fail to dominate the 100-day SMA, the Fibonacci 0.618 level at US$72,359 becomes the nearest support.

Failure to hold above US$72,359 could push BTC back down to the 0.786 level at US$66,645, close to the US$67,000 support—an area that has served as BTC’s price floor throughout 2026.

RAVE Price Prediction: Psychological Level Ahead

RAVE continues its explosive upward trend, now ranking as the 34th largest crypto asset by market capitalization. This token surged over 70% in a single day on Monday, trading at US$13.93 at the time of publication.

On Monday, the price corrected from a high of US$16.80. That level could become the next resistance. Above it, the Fibonacci extension 3.618 at US$$20 becomes the next main target. The US$$20 figure also has significant psychological meaning and could trigger a sell-off.

Since RAVE’s movement is still in uncharted territory after a parabola rally from US$0.25 to above US$$20 in just a week, traditional support levels are limited. The Fibonacci extension 2.618 at US$5.64 appears as the next meaningful support if the current rally reverses.