From Chaos to Crypto Market Surge: What’s Next for Cryptocurrencies?
The total cryptocurrency market capitalization (TOTAL) surged by $142 billion in the past day. This spike occurred after US President Trump declared a ceasefire between Iran and Israel in response to the latter’s abortive strike. The market is currently just below the $3.21 trillion barrier level, which it almost broke, suggesting that if the trend continues, it may move higher. In this regard, the price of Bitcoin (BTC) then rose back to $105,000 today.
Trump’s Ceasefire Deal Triggers Crypto Rally, But One Move Could Break It All
Following US President Trump‘s announcement of an Israeli-Iranian ceasefire, market sentiment just exploded. This encouraging development comes after Iran’s abortive attack on a US facility in Qatar, which contributed to a spike in market optimism for cryptocurrencies and increased the market capitalization overall.
However, the market can see a decline if the situation intensifies once again and Iran doesn’t ratify the truce. The optimistic view could be weakened, and market turbulence could result if the total market capitalization drops back through the $3.16 trillion support and reaches $3.09 trillion.
BTC Bounces Back Strong: Bulls Eye $108K After Fresh Recovery
With a 3.58% increase, Bitcoin topped the market today and returned to its peak of $105,000. Market confidence has been restored as a result of this recovery, which has assisted Bitcoin holders in recovering their losses from the previous week. The price movement points to a possible change in direction toward Bitcoin’s ongoing upward trend.
For Bitcoin’s next move, securing $105,000 as support is now essential. If this level is maintained, the price will be able to surpass $105,622, opening the door for a spike to $108,000. This would encourage additional buying activity in the market and validate the continuation of Bitcoin’s positive trajectory.
For more up-to-date crypto news, you can follow Crypto Data Space.
