The pause eased some geopolitical tensions, sending risk-sensitive assets higher. According to CoinMarketCap data, Bitcoin (BTC) jumped to $70,771 from $67,588, Ethereum ($ETH) rose 4.3% to $2,159, and Solana (SOL) and $XRP ($XRP) also gained, showing a quick market rebound.
$265M Short Liquidations Shake Traders
The sudden price move triggered large liquidations in the derivatives market. Around $369.60 million in short positions were liquidated in the last 24 hours.
According to Coinglass, total liquidations over 24 hours reached $799.88 million, affecting nearly 196,528 traders.
Bitcoin led liquidations with $248.75 million, followed by Ethereum at $196.66 million. Some individual orders, including an $ETH position worth over $16 million, were wiped out during the volatility.
Bitcoin, Ethereum Lead Market Gains
Major cryptocurrencies led the rebound as sentiment improved. Bitcoin moved back above $71,000, while Ethereum recorded steady gains. On prediction markets like Myriad, user sentiment shifted decisively bullish. Bitcoin now holds a 50.1% chance of reaching $84,000 in its next move, up from 41% earlier.
Solana and $XRP also climbed, reflecting broader recovery across altcoins. The move highlights how quickly crypto markets react to geopolitical developments.
Meanwhile, the U.S. dollar index slipped to 99.3, and the 10-year Treasury yield fell to 4.3%, reflecting broad market adjustments.
Related: Peter Schiff Warns U.S. War Spending Could Fuel Debt, Inflation
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