the Cryptocurrency market The index witnessed a rebound, turning broadly to the positive side after a notable rise in capital inflows, which lifted overall sentiment.
By press time, total Crypto market The market capitalization rose to $2.37 trillion, up from $2.27 trillion over the previous 24 hours, representing an increase of $100 billion.
Leading assets recorded notable gains, with Bitcoin (Bitcoin) rose 3.32% to trade around $69,090 while maintaining a dominant market capitalization of around $1.4 trillion.
Ethereum (Ethereum) outperformed among large-cap assets, rising 4.75% to about $2,134.
Among other major cryptocurrencies, XRP It advanced 3.61% to $1.34, while it rose BNB Bank It gained 2.20% to trade near $603.
Bitcoin turns into profits
Meanwhile, the on-chain data from saint He appears Bitcoin ended the weekend with nearly three profitable trades for every one lost, a ratio of 2.95:1, a 12-week high. Such spikes in realized gains are often preceded by short-term pullbacks as investors take profits.
The broader bullish move was primarily driven by reports of ongoing discussions between the US, Iran and regional mediators on a potential 45-day ceasefire, raising hopes for de-escalation and easing geopolitical pressure on risk assets.
Optimism was further boosted by anticipation of President Donald Trump’s scheduled press conference, which lifted spirits across the country. Stocks And cryptocurrency markets.
Reduced oil price pressure and improved overall sentiment spilled over into cryptocurrencies, leading to a comfortable rally that was further amplified by a wave of short-term liquidations.
Crypto market short squeeze
The recovery also sparked a classic short squeeze, where short liquidations significantly outpaced long positions as bearish positions were forced to cover. The momentum was further boosted by the return of traders from the Easter break, which helped push Bitcoin to its highest level in more than a week.
Across cryptocurrency markets, $273.8 million worth of positions were liquidated over a 24-hour period, affecting more than 81,800 traders. Short trades took the biggest hit, with $196.7 million wiped out compared to $77.1 million in long trades, an imbalance of nearly 3:1. The largest single liquidation was $10.17 million of ETH-USDT on Binance.
This glitch left the market vulnerable to volatility after Bitcoin hit a weekend low near $66,600.
Meanwhile, analysts noted that the cryptocurrency market was in an oversold state amid prolonged uncertainty due to the US-Iran conflict, which had earlier pushed up oil prices and created risk-off pressures.
Overall, the ceasefire developments have provided a timely catalyst for a technical recovery with Bitcoin now targeting a price of $70,000.
