Why Crypto Market is Going Up Today and Will it Remain in Green Zone?
The global cryptocurrency market has turned green again. According to CoinGecko, the total crypto market cap has reached $3.62 trillion, a 2.2% jump in the last 24 hours. The 24-hour trading volume is now $205 billion, showing a strong rise in activity. Bitcoin dominance is at 60.7%, while Ethereum dominance stands at 8.88%.
Why Crypto Market is Going Up Today: BTC ATH, Trump Dinner, and ETH Move
The current crypto rally is not driven by one single reason. It’s a mix of technical breakout, political signals, and market sentiment triggers. These are the reasons behind this strong move:
Bitcoin New All Time High: After again and again holding out at the $109K level on multiple occasions, BTC eventually broke past the triple top pattern and reached an all-time high of $111,861.22 on May 22, 2025. The break occurred on the same day as Bitcoin Pizza Day, and it has the added emotional factor. As of writing, BTC is sitting at $110,709.59, and it has a market capitalization of $2.19 trillion with $92.31 billion trading volume.
Coinglass also reflected an increase in BTC futures open interest from $74.24B to $78.03B, which indicates more traders entering the sector.
Source: Coinglass
Trump Dinner News: A surprise push came from the U.S. political side. Former President Donald Trump is hosting a dinner for top TRUMP meme coin holders on Thursday, May 22. This event shows that political figures are now openly engaging with the crypto industry. The dinner led to a sudden jump in meme coins like TRUMP, MELANIA, and MAGA as social buzz increased.
Ethereum Whale Buying and Upgrade Hope: Ethereum also added strength to the market’s bullish mood. ETH is now trading at $2,663.67, after a 5% intraday jump. A whopping 18,908 ETH valued at $50M transfer from an unidentified wallet to Binance was detected by Whale Alert.
Source: X
Moreover, Ethereum's Pectra update and development project to enhance Layer 1 gas limits triggered investor confidence.
Robert Kiyosaki Bitcoin Prediction: Renowned author Robert Kiyosaki predicted increasing inflation recently and estimated that BTC is capable of reaching $500,000 to $1 million as, in his update, "phony money" is being printed by the Federal Reserve. His report put more fuel into the already well-established bullishness in the market.
Source: X
What's Next? Watch These Crypto Events Closely
Though there is a present bullish trend, risks still exist. The Fear and Greed Index is 72 (Greed), which means that the market is hot-headed. It was 70 yesterday and last week, compared to 47 (Neutral) last month. Such high values could signal a correction if any negative news hits.
Upcoming events to watch include:
U.S. S&P Global Manufacturing PMI and April Home Sales data today are one among the major events to watch. Apart from this, keep an eye on:
Friday: New Home Sales Report
All Week: 14 speeches from U.S. Federal Reserve officials
Furthermore, the SEC has postponed major ETF approval decisions and has not issued any approval dates. If these are rejected or postponed further, then it could affect sentiment.
Conclusion
Crypto space is in a favorable green zone currently, thanks to Bitcoin's fresh all-time high, Ethereum's increasing momentum, and influential names like Trump and Kiyosaki weighing in its favor. However, with upcoming economic events and SEC announcements to be anticipated, caution is advisable. Overall sentiment is positive, but future movements will depend on both global finance and regulatory developments.
Disclaimer: It is given only for informational use. Conduct your own investment research before investing.
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