Crypto market just added $100 billion in market cap

The cryptocurrency market staged a strong rebound over the past 24 hours, led by Bitcoin (BTC), which has since reclaimed the $71,000 level after sessions of consolidation.

As of press time, the market cap stood at $2.44 trillion, an increase of about $100 billion from the $2.34 trillion recorded 24 hours ago.

Leading the gains, Bitcoin climbed about 4.05% to trade near $71,545, reclaiming key psychological levels above $70,000 after briefly dipping below $68,000 in prior sessions.

Ethereum (ETH) followed with a 4.97% advance to around $2,181, while XRP rose 3.53% to $1.45. BNB also posted gains of roughly 2.70%, trading near $647.

Why crypto market is rallying

At the same time, market structure played a significant role in accelerating gains. Following recent declines, bearish positioning had built up across derivatives markets, with negative funding rates signaling heavy short exposure.

As prices began to rise, a wave of short liquidations triggered a squeeze, amplifying upward momentum. Bitcoins clean breakout above the $70,000 and $71,000 resistance zone further reinforced bullish sentiment and opened the path toward higher levels.

At the same time, corporate accumulation also remains in play, with Strategy (NASDAQ: MSTR) announcing on Monday that it added over 1,000 BTC to its holdings, signaling continued confidence in Bitcoin as a long-term asset.

Broader macro and regulatory dynamics are also contributing to the improved outlook. Optimism around potential U.S. regulatory clarity, alongside stabilizing equity markets and a softer dollar environment, has supported a rotation back into risk assets, with Bitcoin increasingly acting as a “digital gold” proxy.

Bitcoins next price target

Despite the positive momentum, key technical levels remain in focus. In this line, Bitcoin is now holding above the critical $70,000 support zone, with immediate resistance seen between $72,000 and $74,000.

A sustained breakout above this range could open the door to a move toward $75,000 or higher, while a reversal below $70,000 may signal a retest of the $68,000–$69,000 range.