Yesterday, 04:09 AM
Bitcoin jumps on ceasefire — but for how long?
US-Iran ceasefire drives risk-on move, but uncertainty lingersBitcoin moved above $70K amid the news of a temporary US-Iran ceasefire. The de-escalation reduces immediate geopolitical pressure and improves overall market sentiment. However, with the agreement set for just two weeks, markets remain sensitive to further developments, as previous attempts at de-escalation have been short-lived.
The broader crypto market still shows a Bitcoin-led structure, with the altcoin season index staying near its lowest level since the February sell-off. However, some altcoin narratives are showing resilience, with AI tokens, DePIN assets, and memecoins posting double-digit gains. Tokens such as TAO, M, and FET have each risen by over 60% over the past month.