BTC, ETH, and Altcoins Are Gaining, Why are Crypto Markets Up Today (3/2/26)?
Jakarta, Pintu News – The crypto market started the week with a positive sentiment after being depressed in recent days. The total market capitalization of cryptocurrencies rallied again, while Bitcoin managed to record daily gains and led a modest recovery.
A number of altcoins followed suit, with Hyperliquid stealing the show as the best performing asset. This has sparked a big question among market participants: is this rally the beginning of a recovery, or just a temporary bounce amid high volatility?
Binance Action and Legal News Spark Market Optimism
The positive sentiment of the crypto market today was triggered by Binance’s strategic move to purchase 1,315 Bitcoin (BTC) for the Secure Asset Fund for Users (SAFU). With a value of around USD 101 million or equivalent to IDR 1.69 trillion, this step is considered a strong signal of commitment to protecting user assets.
The market interpreted the action as an attempt to strengthen confidence in the exchanges, especially amid concerns of systemic risk. As a result, buying interest resurfaced across various cryptocurrency segments.
As sentiment improved, the total crypto market capitalization increased by about USD 47 billion or equivalent to Rp789 trillion in the last 24 hours. The market value is now around USD 2.61 trillion or around IDR 43,826 trillion. The improving liquidity flow opens up further opportunities towards the USD 2.74 trillion area if sentiment holds. However, some analysts caution that the rally is still fragile due to external factors and macro uncertainties.
Also read: Silver Jewelry Price Today, Tuesday February 3, 2026
Bitcoin is approaching USD 80,000, but the challenges are not over yet
Bitcoin (BTC) recorded a moderate gain and traded at around USD 78,436 or equivalent to IDR 1.32 billion. This increase brought BTC back close to the psychological level of USD 80,000 which is the main concern of traders.
The area is considered a technical as well as psychological barrier that determines the direction of the next movement. The trading volume that has not been too aggressive shows that the market is still cautious.
If Bitcoin is able to break and stay above USD 80,000, the bullish momentum has the potential to continue. The next target is in the area of USD 82,503 or around Rp1.38 billion which serves as further resistance. Conversely, failure to maintain momentum could trigger selling pressure again. In a negative scenario, BTC risks dropping to the support zone of USD 75,895 or around Rp1.27 billion which was previously an area of strong demand.
Also read: Gold Jewelry Price Today, Tuesday, February 3, 2026
Hyperliquid Explodes 23%, Altcoins Join the Rise
Among altcoins, Hyperliquid (HYPE) recorded the most noticeable surge with a rise of about 23% in the last 24 hours. The price of HYPE rose to around USD 37 or equivalent to IDR 621 thousand, approaching the resistance level of USD 38.
The gains were supported by a surge in volumes and increased speculative interest in the altcoin segment. HYPE’s position as today’s top gainer reflects the return of short-term risk appetite.
If Bitcoin maintains its positive trend, a further push could take HYPE through USD 38. A confirmed breakout opens up the opportunity for a rally to the USD 42 area. However, the risk of a correction remains if market sentiment changes rapidly. A rejection at the resistance area could potentially drag the price back to USD 34 or even USD 30, which would invalidate the short-term bullish scenario.
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Today’s strength in the crypto market shows how a combination of institutional sentiment, legal news, and technical moves can fuel short-term rallies. Binance action, Bitcoin (BTC) movement, and a surge in altcoins such as Hyperliquid (HYPE) were the main catalysts for the temporary recovery. However, market conditions are still vulnerable to changes in global sentiment and macro pressures. In such a situation, caution remains key for cryptocurrency market participants.
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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 are subject to high risk and volatility, always do your own research and use cold hard 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 February 3, 2026
- Featured Image: Generated by AI
