SOL, XRP, DOGE Lead Altcoin Recovery After $1B Weekend Liquidation
Majors are stabilizing, and bitcoin regained $101,000 after falling under six-figures last night as U.S. airstrikes on Iran triggered a brutal $1 billion flush-out.
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Majors are stabilizing, and bitcoin regained $101,000 after falling under six-figures last night as U.S. airstrikes on Iran triggered a brutal $1 billion flush-out.
Tensions in the Middle East are fueling a flight to safety, with traders rotating out of altcoins into stablecoins and bitcoin amid uncertainty around U.S. military escalation and sticky inflation.
One analyst characterized bitcoin’s recovery from last week’s decline as a “peaceful rally,” with buyers stepping in to support the uptrend.
Hong Kong’s Hang Seng index rose above 24,000 for the first time since March, driven by trade talk optimism.
The big rally in bitcoin and stocks over the past eight weeks has occurred with a (somewhat) hawkish Fed; a dovish turn could provide fuel for new legs higher.
A number of indicators suggested the bull market has more room to run, said NYDIG.
Coinbase said 69,461 customers were initially impacted by the breach, but fears remain over the threat of real-world robberies.
The move comes as the long/short ratio is at its lowest point since September 2022.
An already under pressure bond market took a further hit following a weak auction of long-term U.S. Treasury debt.
Regulatory tailwinds, persistent ETF and corporate buying, Fed rate decisions and Trump’s looming tariff deadline are setting the crypto market up for an eventful next few months.