Bitcoin Surges Past $71K on US-Iran Ceasefire Momentum, Crypto Market Caps $150B Rally
Bitcoin rallies 4.6% to $71,720 amid US-Iran ceasefire reports, adding $150B to crypto market cap as shorts get liquidated in a risk-on surge.
Bitcoin BTC rocketed +4.61% in the past 24 hours to $71,720, pushing its market cap to $1.435 trillion and dominance to 58.66%. The broader crypto market followed suit, adding approximately $150 billion to its total capitalization, now standing at $2.45 trillion with 24-hour trading volume surging to $117.4 billion.
This sharp rebound comes amid reports of a potential US-Iran ceasefire, which traders appear to have front-run hours in advance. X posts highlight BTC pumping from $68,000 to over $72,800 in just 8 hours, liquidating $400 million in short positions. Ethereum climbed toward $2,300, while the entire market shed risk-off sentiment tied to geopolitical tensions.
The Fear & Greed Index sits at 46 (Neutral), reflecting balanced sentiment after recent volatility. BTC dominance holds firm above 58%, underscoring its leadership in the rally. Stablecoin market cap remains robust at $289 billion, supporting liquidity.
Major headlines today include Bitcoin reclaiming $71,000-$72,000 levels as ceasefire talks boost risk appetite. KuCoin's daily report notes BTC leading a broader rally with Ethereum and majors in tow. On X, analysts like @BullTheoryio and @BitcoinHopium point to the $150B market gain and upward momentum around $71K.