Synopsis : Bitcoin surged past the $106,000 mark after a temporary dip, as geopolitical calm from the Iran-Israel ceasefire lifted market sentiment. Altcoins joined the rally with Ethereum, Solana, and Sui posting impressive daily gains.
The bulls have stormed back into the crypto arena, with Bitcoin (BTC) leading the charge after briefly dipping below $100,000 for the first time in 45 days. Triggered by US President Donald Trump’s announcement of a ceasefire between Iran and Israel, the flagship cryptocurrency reclaimed the $106,000 level, fueling a fresh wave of optimism across the digital asset market.
As per CoinMarketCap data, Bitcoin was last seen trading at $105,077.64, up 3.56%, with a massive 24-hour trading volume of $64.85 billion. It swung within a range of $99,705.75 to $106,116.86, further solidifying its position as the dominant crypto with a market cap of $2.09 trillion.
Analysts attribute the rebound to renewed global stability and easing oil concerns post-ceasefire, which prompted investors to pile back into risk assets. Edul Patel, CEO of Mudrex, noted that Bitcoin gained bullish traction with capital rotating from safe havens like gold back into high-risk digital assets. Vikram Subburaj, CEO of Giottus, echoed this sentiment, stating that the crypto market has re-entered its “risk-on” phase with equity markets bouncing back.
However, eyes are now on US Federal Reserve Chair Jerome Powell’s speech scheduled later today. A dovish outlook hinting at interest rate cuts could propel Bitcoin past the next resistance level of $107,700, with $103,200 acting as immediate support.
It wasn’t just Bitcoin riding the bullish wave. Ethereum (ETH), the second-largest cryptocurrency by market cap, rallied 7.43% to $2,409.36. Sui (SUI) surged 12.63%, Solana (SOL) gained 7.84%, while other altcoins like Ripple (XRP), Cardano (ADA), and Binance Coin (BNB) also posted solid daily returns.
The altcoin momentum reflects a broader shift in sentiment, with investor interest peaking across trending coins such as Solana, Movement (MOVE), Sei, BUILDon (B), and Caila (CA), as per CoinMarketCap’s Tuesday update. Meanwhile, the stability of Tether (USDT) at $1 kept the market grounded.
As geopolitical risks ease and macroeconomic cues evolve, the crypto market appears poised for a renewed bull run. But with volatility ever-present, all eyes remain on the Fed and broader market signals.
