The total capitalization of the cryptocurrency market (TOTAL) has recovered nearly $200 billion in the last 24 hours. Bitcoin (BTC) also rose from $86,400 to $92,700 in the same period. Altcoins also followed this trend, with the price of Sui (SUI) rising 23% in the last day.
In today's news:
Ethereum will launch its Fusaka update on December 3, 2025, introducing PeerDAS to significantly increase Layer 2 scalability. This is the second major update of the network this year, following the Pectra fork, which previously triggered a 29% increase in the price of ETH.
U.S. authorities seized an internet domain linked to a fraudulent scheme associated with the Tai Chang complex in Myanmar, in an attempt to dismantle regional fraud networks. The action coincided with the freezing of withdrawals by a sanctioned Cambodian financial group, amid increasing regulatory pressure from the U.S. and the U.K.
The cryptocurrency market is recovering.
The total market capitalization of cryptocurrencies increased by $200 billion in the last 24 hours, reaching $3.10 trillion. The cryptocurrency TOTAL saw a strong rise after the U.S. Federal Reserve ended quantitative tightening on Tuesday. This is improving risk appetite and driving strong inflows into major cryptocurrencies.
TOTAL is now targeting the resistance level of $3.16 trillion, which needs to be surpassed to maintain the upward momentum. Ensuring stable support at $3.09 trillion will be crucial to sustain this appreciation and allow for greater growth across the market.
If volatility returns and conditions change again, the total value may fall below $3.05 trillion and retreat to $2.93 trillion or even to a lower level. Such a move would signal weakened demand and temporarily invalidate the optimistic outlook.
Bitcoin surpasses crucial barrier.
Bitcoin has recovered in the last 24 hours, trading at $92,712 at the time of writing, after surpassing the $91,521 barrier for the first time in almost two weeks. This recovery signals renewed strength as market sentiment improves after days of uncertainty.
It is likely that BTC will extend this upward trend if the overall market signals remain favorable. A continuation of this momentum could push the price of Bitcoin to $95,000. Turning this level into support is essential to sustain new gains and confirm a more robust recovery structure.
If the upward momentum loses strength, the price of Bitcoin may retreat to below $91,521 and fall towards $89,800. A drop below this level would signal weakened demand and invalidate the short-term bullish outlook, exposing BTC to deeper retracements.
Sui leads the altcoin market.
The price of SUI rose 23% in the last 24 hours, trading at $1.65 at the time of writing and holding firmly above the support level of $1.60. The altcoin has become one of the best-performing assets of the day, with buyers returning after a volatile week.
The RSI reflects an improvement in momentum and is now close to the neutral mark of 50.0. A decisive move above this level would confirm a sentiment shift from bearish to bullish. This could push SUI beyond $1.75 and towards the $2.00 region if demand continues to grow.
If the upward momentum weakens and holders seek to secure profits, SUI may fall below $1.60 and approach $1.49. Losing this support would invalidate the bullish thesis and expose the altcoin to a sharper decline towards $1.31.
The article Why is the cryptocurrency market bullish today 03/12/2025? was first seen on BeInCrypto Brazil.
