Why Is The Crypto Market Up Today?

What Happened

Prenetics Global Limited announced it will halt Bitcoin purchases in 2026 after ending daily buying in December 2025. The company will retain existing holdings, signaling a broader corporate pullback following Bitcoin’s late-2025 drawdown.

Turkmenistan legalized crypto mining and exchanges starting January 1, 2026, introducing central bank licensing under civil law. While the move signals a rare policy opening, strict internet controls may limit practical mining operations.

A more solidified rise, however, depends on the market reclaiming the $3.00 trillion level and holding it as firm support. Breaking and sustaining this psychological mark would likely strengthen sentiment and encourage fresh inflows from investors.

Market Context

The total crypto market cap (TOTAL) and Bitcoin (BTC) both observed a slight surge over the last 24 hours. Following their cues, Pepe (PEPE) price also shot up by 27% becoming the best-performing altcoin of the day.

The Crypto Market Notes A Rise

The total crypto market is aiming at the critical point of $3.00 trillion after registering a $43 billion increase today. The rise is likely owing to the optimism around the New Year 2026, which feeds the rise.

Bitcoin is changing hands near $88,879 at the time of writing and continues to hold above the $88,210 support level. This level had restricted price advances earlier this month, and its shift into support suggests the market is finding a short-term footing.

IP price surged 27% over the past 24 hours, leading the altcoin market in gains. The cryptocurrency now trades near $0.00000516 after strong buying interest. Elevated volume supports the move, though short-term momentum remains sensitive to profit-taking at higher levels.

IP is consolidating within a narrow range between $0.00000544 and $0.00000491. A breakout above $0.00000544 could extend the rally. Alternatively, holding and confirming $0.00000491 as support would help sustain recent gains and stabilize price action.

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Why It Matters

On the downside, weakness in buying pressure could reopen risks. A slip below $2.92 trillion may trigger further losses, with $2.85 trillion emerging as the next critical area where buyers are expected to step in.

To recover from recent pullbacks, Bitcoin must challenge the resistance around $90,308. A sustained buying spree is crucial to push BTC beyond this zone, which would likely reinforce bullish confidence and attract renewed interest. The Relative Strength Index (RSI) is at the neutral mark and a move into the positive zone would suggest bullish momentum is strengthening, aiding recovery.

If demand fades, downside risks could resurface. A drop below $88,210 would weaken the current structure and shift attention to $86,247 as the next support area. Failing to defend both levels could increase selling pressure and deepen losses for Bitcoin holders.

Selling pressure could shift momentum quickly. A breakdown below $0.00000491 may expose IP to a decline toward $0.00000460. Such a move would invalidate the bullish outlook and signal a return of short-term downside risk.

Details

In the news today:-

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