Why is Crypto Going Up Today (3/20/25)?

Jakarta, Pintu News – In the last 24 hours (20/3/25), the overall crypto market capitalization (TOTAL) and Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- experienced a recovery, driven by improving macroeconomic conditions.

Altcoins have also benefited from this positive trend, with XRP XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply- being the best performing asset of the day after recording an 8% gain.

Crypto market recovers with $97 billion gain, investors remain wary

In the last 24 hours on March 20, 2025, the overall crypto market capitalization saw an increase of $97 billion. This increase reflects the mixed reaction from investors to the Federal Reserve’s decision to keep US interest rates on hold.

Read also: The Fed’s Move Sparks a $2.9 Trillion Crypto Boom Amid Economic Turmoil!

Nonetheless, the market response remains uncertain as it remains sensitive to broader economic signals.

Currently, TOTAL is trading at $2.77 trillion, breaking through the $2.75 trillion level. This movement suggests that the market may be targeting the next resistance level of $2.93 trillion.

However, this upward momentum depends on the market’s ability to maintain the $2.75 trillion level as a support zone in the near term.

Reporting from BeInCrypto (20/3) If bearish sentiment dominates again, the crypto market capitalization risks falling back below $2.75 trillion, with the possibility of testing the $2.61 trillion level as a new support zone.

This scenario could result from rising market concerns, which could reflect a change in investor confidence.

Bitcoin Breaks Key Boundary, Potential to Continue Uptrend

Bitcoin (BTC) price rose by 3.79% today (20/3), reaching $85,846. This rise came after BTC broke through the $85,000 resistance level, ending a week-long period of consolidation above $80,301.

This bullish movement indicates that Bitcoin could continue to rise if the positive momentum holds in the next few days.

To recover previous losses, Bitcoin needs to stay above the current support level and target higher prices.

The next major resistance level is at $89,800, with the potential for further gains towards $90,000. If BTC manages to break this level, a stronger uptrend could be confirmed.

However, if investor sentiment turns bearish, Bitcoin is at risk of a correction. If it fails to maintain support at $85,000, BTC could return to the consolidation phase and test the $80,301 level again. This could delay the price recovery and keep Bitcoin within its current range.

XRP faces resistance, growth still limited

Today, XRP is the best performing crypto asset after recording an 8% gain. However, uncertainty in the overall market limits the potential for more growth.

Most other cryptocurrencies have only seen small gains or even declines.

Despite the surge, XRP is still struggling to break through the $2.60 resistance level, so the bullish momentum is not yet fully established.

Read also: Crypto Analyst Forecasts XRP Price Surge to $20 – Are 18 XRP ETFs About to Launch?

If XRP manages to cross this boundary, there is a potential upside towards $2.95, which is an important resistance level that it previously failed to break earlier this month. If successful, this could signal a recovery for the altcoin.

Conversely, if XRP fails to break the $2.60 resistance, the price risks falling back to the support level at $2.33 or lower. This drop could wipe out the recent gains and invalidate the bullish outlook.

If the price drops deeper to $2.14 or below, investor sentiment could weaken further and slow down XRP’s recovery.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Why Is the Crypto Market Up Today? Accessed on March 20, 2025