benzinga.com
Leading cryptocurrencies and stocks rose on Tuesday as the U.S. confirmed that Iran’s truce remains in place despite a flare-up in hostilities.
Crypto Market Gains Momentum
Bitcoin attempted to break $82,000 but faced rejection around $81,750. Ethereum nearly broke $2,400, while XRP and Dogecoin recorded noticeable increases in the 24-hour period.
Over $385 million was liquidated in the past 24 hours, with $314 million in short positions alone wiped out, according to Coinglass data.
Open interest in Bitcoin futures rose further by 5.15% over the last 24 hours. That said, retail and whale traders on Binance remained on the bearish side, betting that BTC prices would fall.
Despite the latest spike, “Fear” sentiment returned to the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.69 trillion, following an increase of 1.50% over the last 24 hours.
Stocks Close At Record Highs
Stocks bounced back sharply on Tuesday. The Dow Jones Industrial Average rallied 356.35 points, or 0.73%, to settle at 49,298.25. The S&P 500 lifted 0.81% to close at a record of 7,259.22, while the tech-heavy Nasdaq Composite added 1.03%, also hitting a new high at 25,326.13.
Secretary of War Pete Hegseth told reporters that the ceasefire between the U.S. and Iran is "not over," but urged the Iranian side to be "prudent" in their actions.
The remark comes as tensions escalated after the threatening President Donald Trump’s new effort to reopen commercial shipping through the Strait of Hormuz.
On the other hand, Iran attacked the UAE's key oil facilities in response to what they deemed as “U.S. military adventurism.”
The United States Oil Fund ), which tracks West Texas Intermediate crude oil, closed down 2.33% at $144.17.
Early Signals For Bull Market?
Blockchain analytics firm CryptoQuant noted that short-term holders were selling Bitcoin at a profit, indicating confidence in the market.
"But enough confirmation has not come yet," CryptoQuant said. "There are early signals. But all levels have not been passed yet. All criteria have not been met yet. We should be careful."
Michaël van de Poppe, another prominent cryptocurrency commentator on X, said Bitcoin is getting ready for "more upside."
"I don’t think this will stall, with the current construction, soon," Van De Poppe predicted. "At least there’s leg room to $86,000-$88,000 and most likely to $91,000-$93,000."
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