#MarketRebound The crypto market is experiencing a significant rebound today, with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) leading the charge. Here are the key factors driving this upward trend¹ ² ³:
- *Bitcoin's Surge*: BTC surged 3.8% to $104,931.68, reaching as high as $106,060.95. This increase is attributed to improved market sentiment and increased institutional participation, with US spot Bitcoin ETFs recording $350.4 million in inflows.
- *Ethereum's Gains*: ETH outperformed with a 7.01% rally to $2,398.44, supported by strong risk appetite and $109.95 billion in futures liquidations.
- *Market Sentiment*: The Fear & Greed Index held at 47, signaling cautious optimism, while the average RSI across the market rose to a neutral 58.
- *Altcoin Performance*: Top gainers included BDT with a 34.30% increase, MOVE up 33.75%, and SEI gaining 33.25%, reflecting broad strength in altcoins.
- *Ceasefire Announcement*: The rebound follows an announcement by Donald Trump that Israel and Iran have agreed to a ceasefire, potentially ending the conflict and boosting investor confidence.
- *Institutional Investment*: Increased institutional participation, with US spot Bitcoin ETFs recording $350.4 million in inflows and Ethereum ETFs seeing $100.7 million in inflows, has also contributed to the market's upward trend.
- *Technical Indicators*: The total crypto market cap has formed a bull flag pattern, signaling potential for further upside. However, traders are advised to stay alert due to looming macro risks and ETF developments.
Some key statistics highlighting the market's performance include⁴:
- *Total Market Capitalization*: $3.26 trillion, up 4.4% in the last 24 hours
- *Bitcoin's Price*: $106,000 - $106,480, with resistance at $106,842 and support at $104,643
- *Ethereum's Price*: $2,440, with resistance at $2,480-$2,520 and support at $2,320-$2,360
- *Liquidations*: Over $471 million in crypto positions liquidated in the last 24 hours, with $358 million in short position liquidations
