Crypto Today: Bitcoin, Ethereum, XRP flash recovery signals after rollercoaster weekend :
Bitcoin aims for $105,000 following the weekend sell-off, buoyed by short-term holder realized price support.
Ethereum rebounds after testing $2,111 support as institutional interest steadies on weekly spot ETF net inflow.
XRP pares losses as bulls move swiftly to curb downside risks below the $2.00 support.
The cryptocurrency market is gearing up for recovery following a geopolitical tension-triggered sell-off over the weekend after the United States (US) struck Iran's nuclear sites in support of Israel's campaign. Bitcoin (BTC) slipped below $100,000, reaching a low of around $98,200, before reversing the trend and rising above $101,000 on Monday.
Major altcoins, including Ethereum (ETH) and Ripple (XRP), are paring losses while offering signs of recovery, underpinned by renewed sentiment in the broader cryptocurrency market.
Market overview: US strikes on Iran keep investors on the edge
US President Donald Trump ordered strikes on three main Iranian nuclear sites on Saturday, unleashing mayhem in global markets, which saw Bitcoin price drop below the $100,000 mark, its lowest point since May 8.
The strikes dimmed hopes for a potential ceasefire, as reported by Reuters. "It's irrelevant to ask Iran to return to diplomacy," Iran's foreign minister Abbas Araqchi told reporters in Istanbul on Sunday.
Following the attacks, President Trump urged Iran to return to the negotiating table but warned against retaliatory attacks on US assets and personnel in the Middle East region.
Volatility in the market is likely to remain elevated, with traders treading cautiously. Liquidations exploded above the $1 billion mark on Sunday, offering a glimpse of the damage that could happen if the conflict between Iran and Israel keeps escalating.
