The crypto market rebounded sharply after US President Donald Trump announced a peace deal with Iran, reducing political tensions and increasing financial risk across financial markets. The rally added nearly $60 billion to the entire crypto market, pushing it up 1.56% to $2.24 trillion.
In the post on Social TruthTrump said the deal with Iran is over and he has agreed to reopen the Strait of Hormuz and remove the US military border. The parties are expected to sign the agreement in Switzerland on Friday.
Bitcoin Leads Recovery As Short Sellers Get Burned
Bitcoin rose to around $65,800 following Iran’s announcement saleswhile the volume of sales jumped 36% in the last 24 hours. Ethereum followed closely behind, reaching $1,730, while XRP and Dogecoin also recorded strong gains.
The move caused the entire market to crash. According to Coinglass dataMore than $333 million worth of positions were destroyed in the last 24 hours, including nearly $239 million in short positions as bearish bonds were caught on the wrong side of the rally.
Bitcoin open interest also rose 2.57%, reflecting renewed participation in the emerging market and growing confidence among investors. However, the Crypto Fear & Greed Index remains in the “Extreme Fear” zone, indicating that caution is not over.
What Will Happen to BTC, ETH, and XRP?
An expert Michael van de Poppe he said that Bitcoin’s move above $64,000 is an important development in the broader market. According to him, a sustained breakout can restore the risk sentiment and bring more money into altcoins, which can support another movement of strong assets.
An expert It’s Martinez he said that if ETH returns to the $1,070 level, which shows the lower limit of the long-term trend, it could be one of the best buying opportunities on the chart. At the moment, Ethereum continues to work near $1,700 as the momentum increases.
Meanwhile, XRP is approaching a critical technological milestone. Martinez highlighted the shape of the triangle formed on the chart. An exit from the system could lead to a move of 14%, putting XRP on the lookout for a bullish market.
Currently, Bitcoin above $65,000 remains an important indicator. Further strength could support Ethereum, XRP, and the broader altcoin market as investors regain confidence and ease global tensions.
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