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crypto.news 2025-06-24 10:38:29

Why is the crypto market going up today?

Crypto market recovered as Bitcoin reclaimed the $100k level, following reports of a potential truce between Israel and Iran that may bring an end to the recent ongoing hostilities between the two nations. On Monday, U.S. President Donald Trump announced that both nations have agreed to a full truce, which he said will bring an end to what he called “The 12 Day War.” The announcement helped calm investor fears and gave markets a reason to rally after a volatile weekend. According to crypto.news, the global crypto market cap rose 2.8% to hit $3.39 trillion as of Tuesday afternoon in Asia. Bitcoin ( BTC ) surged 3.4% to cross $105k, while Ethereum ( ETH ) spiked 6.7% to reclaim the $2,400 level. Major altcoins followed the trend, with XRP ( XRP ), Solana ( SOL ), and Dogecoin ( DOGE ) climbing 8.5%, 8.2%, and 7%, respectively. The rebound follows a steep weekend sell-off triggered by heightened conflict, after Israel intensified its airstrikes and the U.S. reportedly launched attacks on three Iranian nuclear facilities. BTC had dropped nearly 4% to $98,615, while ETH and SOL saw declines of up to 10% amid investor concerns over an extended conflict and its potential economic fallout. Now, with geopolitical risks easing, market sentiment has improved sharply. Alternative’s Crypto Fear & Greed Index jumped 47 points to hit 65, back into “Greed” territory. Meanwhile, Coinglass data shows the average RSI across the market rose to a neutral 58. Open interest also climbed by 4% to $135 billion, while total liquidations dropped 28% to $482 million per CoinGlass data . Interestingly, most of the liquidations came from shorts, indicating a possible short squeeze that may have helped fuel the rally even more. You might also like: Crypto market rebounds as Trump announces potential Israel-Iran ceasefire Increased institutional participation further underpinned the market rebound. U.S. spot Bitcoin ETFs recorded $350.4 million in inflows on Monday, a sharp rise from just $6.37 million on Friday. Ethereum ETFs also saw strong inflows of $100.7 million, reversing from previous day outflows of $11.3 million. Adding to the bullish momentum, Strategy’s Michael Saylor revealed the company had bought another $26 million worth of Bitcoin. Strategy’s latest purchase came amid a broader 2025 trend, with more public companies following its lead and adopting Bitcoin as a long-term treasury asset. For instance, Japan’s Metaplanet recently executed a $108 million purchase , while entrepreneur and investor Anthony Pompliano announced the launch of a Bitcoin treasury firm backed by prominent institutions such as Citadel and Jane Street, with the goal of building a $1 billion Bitcoin reserve. On the regulatory front, the Federal Reserve’s decision on June 23 to remove the term “reputational risk” from its bank supervision guidelines was seen as a key catalyst. The change eliminates a subjective barrier that had deterred banks from engaging with crypto firms. Industry observers believe this move could normalize banking access for digital asset companies and accelerate crypto-financial integration. Read more: DeFi Development to tokenize stock on Solana via Kraken’s xStocks

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