Bitcoin reclaims $106K as crypto market soars — Ethereum, Solana, XRP, and Cardano rally big on Middle East ceasefire hopes: Is this the start of the next crypto bull run?
Bitcoin reclaims $106k as bulls charge back: What's driving the crypto market rally today?-
Bitcoin is back in the spotlight, crossing $106,000 again after a geopolitical shift gave bulls a reason to step in. The leading cryptocurrency saw a sharp rebound after US President Donald Trump announced a ceasefire agreement between Iran and Israel. This surprise move calmed global market jitters, especially concerns around oil supply disruptions, and gave crypto investors renewed confidence to pile back into risk assets.
Within 24 hours, Bitcoin jumped back above the $106K mark, reversing earlier losses where it had briefly dipped below $100,000 for the first time in 45 days. This rally wasn't just about Bitcoin—Ethereum, Solana, Sui, and several other altcoins joined the party with gains ranging from 6% to over 13%.
What's the price of Bitcoin today?
As of now, Bitcoin is trading around
$105,238
, up by nearly
4% in the past 24 hours
. The leading cryptocurrency touched an intraday high of
$105,934
, with its daily low hovering near
$100,055
. This marks a sharp recovery following last week's geopolitical tensions that had dragged crypto prices lower.
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How is Ethereum and other major altcoins performing?
Ethereum (ETH) is also enjoying strong upside momentum, currently priced at $2,410.64, up 6.5% over the past day. The second-largest crypto by market cap hit a high of $2,430.13, rebounding impressively from its intraday low of $2,202.36.
Other notable gainers include:
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XRP
: Up
8.3%
, buoyed by renewed interest from retail buyers.
Solana (SOL)
: Jumped
7.9%
, regaining bullish sentiment among DeFi enthusiasts.
Cardano (ADA)
: Gained nearly
5.2%
, mirroring the broader altcoin surge.
What's fueling the crypto rally today?
The latest rally appears to be driven by a mix of geopolitical developments and renewed investor risk appetite:
Ceasefire Optimism
: Markets are reacting to news of a possible ceasefire between Iran and Israel, which has led to a global relief rally. As risk aversion fades, traders are rotating back into volatile assets like cryptocurrencies.
Market Sentiment Shift
: The brief pause in Middle East tensions helped reduce gold and oil premiums while reviving enthusiasm for speculative trades — especially in digital assets.
Institutional Moves
: Bitcoin miners and major funds have begun repositioning their strategies, reportedly looking into AI-powered energy optimization and data center investments — signaling long-term confidence in crypto infrastructure.
How big is the crypto market right now?
Total crypto market cap
: Approximately
$3.32 trillion
24-hour trading volume
: Around
$156.2 billion
Bitcoin dominance
: ~
63.5%
Ethereum's market share
: ~
8.8%
These numbers reflect a strong bounce from the weekend lows, showing that investor confidence is quickly returning.
Is the crypto bull run here to stay?
While today's momentum is certainly encouraging, analysts warn of potential volatility ahead. The ceasefire between Iran and Israel remains tenuous, and any escalation could send markets into another tailspin.
Additionally, upcoming U.S. economic data and Federal Reserve commentary could influence the crypto market's next move. Traders are watching inflation indicators and interest rate updates closely, as any surprises there could either fuel or flatten the current rally.
Why did Bitcoin surge after Trump's ceasefire deal?
Bitcoin's rally appears closely tied to a sudden shift in global sentiment. President Trump's announcement of a ceasefire between Iran and Israel cooled down fears of military escalation in the Middle East, which had been weighing on investor confidence across global markets. Edul Patel, CEO and co-founder of Mudrex, explained that this development helped restore geopolitical stability and reduced the immediate threat of oil disruptions—a key risk factor.
According to Patel, this triggered renewed interest in risk assets like cryptocurrencies. Bitcoin's price climbed 3.56% and was last seen trading at $105,077.64, with a strong 24-hour trading volume of $64.85 billion. In the past day alone, the price has fluctuated between $99,705.75 and $106,116.86, keeping traders on high alert.
Is the Federal Reserve's next move influencing crypto prices?
Yes, and traders are watching closely. While the ceasefire brought in short-term bullish energy, all eyes are now on the upcoming speech by US Federal Reserve Chair Jerome Powell. Market watchers expect any dovish tone—especially hints of possible rate cuts—could push Bitcoin beyond its current resistance level of $107,700, according to Mudrex's Edul Patel.
There's strong support forming near $103,200, suggesting that even if Bitcoin cools off slightly, it may remain on firm ground unless new global shocks emerge.
Other altcoins also rallied sharply:
Sui (SUI) rose by 12.63%
Solana (SOL) climbed 7.84%
Ripple (XRP) gained 6.85%
Cardano (ADA) increased 6.78%
Hyperliquid (HYPE) was up 4.42%
Binance Coin (BNB) added 3.12%
Even Tether (USDT), the leading stablecoin pegged to the US dollar, saw a slight uptick, trading at $1, up 0.04%.
What's the sentiment in the broader crypto market?
According to Vikram Subburaj, CEO of Giottus Crypto Platform, the crypto market has switched back into a risk-on mode. With traditional equity markets bouncing and gold prices slipping, it's clear that investors are feeling a bit more optimistic. Subburaj pointed out that Bitcoin is back in its previous consolidation zone above $105,000, suggesting that this level may now act as a launchpad for future gains—provided there are no surprises from the Fed or new geopolitical tensions.
Which cryptocurrencies are trending today?
In addition to the major players, a few coins are catching traders' eyes on CoinMarketCap's trending list this Tuesday morning. These include:
Solana (SOL)
Ethereum (ETH)
Movement (MOVE)
Sei (SEI)
BUILDon (B)
Caila (CA)
These names have gained momentum either due to strong price action, developer activity, or community engagement. Traders often watch these trending coins for short-term trading opportunities or emerging narratives.
Can Bitcoin stay above $106,000 or is another dip coming?
That's the big question now. While Bitcoin has recovered impressively, profit-booking at higher levels has already started. Still, strong volume and bullish sentiment suggest the move has legs. Much will depend on macroeconomic signals from the US Federal Reserve and any unexpected global developments. If Powell's speech later today indicates easing ahead, crypto bulls may get the fuel they need to push Bitcoin above the $107,700 resistance.
But if he sounds cautious or hawkish, expect a short-term pullback, possibly testing support near $103,200.
Bitcoin's sharp rise above $106,000 signals a powerful comeback for the crypto market, fueled by easing geopolitical fears and renewed risk appetite. With Ethereum and altcoins tagging along, the market is showing strength—but the Fed's next move could decide whether this rally continues or cools down. Either way, traders have plenty to watch, from trending coins to central bank signals.
FAQs:
Q1: Why did Bitcoin rise above $106k today?
Bitcoin jumped after Trump's ceasefire news boosted global market confidence and crypto buying.
Q2: Will Fed Chair Powell's speech affect Bitcoin prices?
Yes, a dovish signal from Powell could push Bitcoin above its $107,700 resistance level.
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