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Why Is The Crypto Market Up Today?

13 October 2025 04:42 UTC
Trusted
  • The crypto market cap rebounded $219 billion to $3.87 trillion after the tariff-driven crash, with $3.89 trillion key to confirming recovery.
  • Bitcoin trades at $115,500, holding $115,000 support after rebounding from $102,000; a break above $117,261 could target $120,000 next.
  • Bittensor (TAO) jumped 40% to $412, hitting a three-month high; holding $410 may lead to $450, but falling below it risks a slide to $335.
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The total crypto market cap (TOTAL) and Bitcoin (BTC) are on track to note a recovery following the Black Friday crash that led to $16 billion in liquidations. Among the altcoins Bittensor (TAO) is noting sharp gains as well, posting a near 40% rise in 24 hours.

In the news today:-

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  • Grayscale Investments has filed a Form 10 with the SEC for its Bittensor Trust (TAO) to shorten the private holding period from 12 to six months. If approved, the trust will report under Section 12(g), enhancing transparency through regular SEC filings and audited financials.
  • Over $1.75 billion in new USDT and USDC were issued following Trump’s China tariff announcement that triggered the market crash. Tether minted nearly $1.5 billion in USDT across October 10–11, marking one of the largest short-term issuance spikes of 2025.

The Crypto Market is Healing

The total crypto market cap surged by $219 billion in the past 24 hours, climbing to $3.87 trillion. This rebound marks the first significant recovery since the market crash caused by the recent US announcement of tariffs on China, which briefly disrupted investor confidence and slowed digital asset momentum.

TOTAL now appears poised for further recovery if it can successfully breach and flip the $3.89 trillion level into support. Doing so could strengthen market sentiment and drive the collective valuation of major cryptocurrencies higher, potentially pushing the total crypto market cap toward the $4.00 trillion threshold.

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Total Crypto Market Cap Analysis
Total Crypto Market Cap Analysis. Source: TradingView

While a reversal seems unlikely in the near term, caution remains necessary. The market’s recovery is still fragile, and uncertain macroeconomic conditions could trigger another decline. If investor sentiment weakens, TOTAL may drop back to $3.81 trillion or even $3.73 trillion before stabilizing again.

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Bitcoin Is Back Above $115,000

Bitcoin briefly fell to $102,000 during Friday’s market crash but quickly rebounded, finding strong support at $110,000. The recovery helped the crypto giant reclaim $115,000 as a crucial support level.

BTC is currently trading at $115,500, positioned just below the $117,261 resistance level. A successful breakout above this zone and its conversion into support could pave the way for another leg up, potentially pushing Bitcoin’s price toward the key psychological milestone of $120,000.

Bitcoin Price Analysis.
Bitcoin Price Analysis. Source: TradingView

However, if Bitcoin fails to breach $117,261 convincingly, a short-term correction may occur. A pullback could send BTC below the $112,500 support level and even test $110,000 once again. Such a move would invalidate the bullish outlook and suggest the market’s upward momentum is weakening.

Bittensor Hits 3-Month High

TAO became the day’s top-performing altcoin, soaring nearly 40% within 24 hours. The cryptocurrency is now trading at $412 after successfully flipping the $410 level into support. This surge was the result of Grayscale filing a Form 10 for its Bittensor Trust (TAO) on October 12.

With TAO hitting a three-month high, continued bullish momentum could push the price higher. If $410 holds as a reliable support floor, the altcoin may target $450 in the short term. Sustained buying pressure and favorable sentiment across the market could further strengthen TAO’s upward trajectory this week.

TAO Price Analysis.
TAO Price Analysis. Source: TradingView

However, if market conditions weaken, TAO’s rally may lose momentum. A drop below $410 would expose the altcoin to downside risk, potentially driving it through $378 and toward $335. Such a decline would invalidate the bullish thesis and suggest a deeper correction phase ahead.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.