TL;DR:
The crypto market recorded one of its most active sessions in months, driven by the U.S.-Iran ceasefire extension announced by President Donald Trump. The news was enough for Bitcoin to climb to $78,500, its highest price since early February, according to TradingView data.
The price of BTC is trading around $78,150, posting a daily gain of 2.34% and a weekly gain of 11.2%. Its capitalization surpassed $1.56 trillion, while its dominance over the rest of the crypto assets remains stable at around 57.8%.
The shift toward a bullish trend caught traders with short positions off guard. According to CoinGlass data, Bitcoin’s jump to $78,000 triggered $286 million in short position liquidations on derivatives exchanges, compared to $132 million in long positions affected. Open interest in crypto futures grew more than 4% in 24 hours, reaching $126 billion, with significant increases across major market assets, pointing to capital inflows and greater appetite for leverage.
Funding rates turned positive for most tokens, a signal that market bias is once again tilting toward bullish positions.
Altcoins benefited just as much as Bitcoin. According to the latest CoinMarketCap data, Ethereum rose 3.4% and surpassed $3,400. XRP reached $1.45, gaining 1%. BNB climbed just over 1.45% and is trading around $643 per token. Solana jumped 3.5% and moved above $88. TRON stands at $0.33 with a 1.1% gain and Dogecoin is at $0.09755 with a 2.5% gain. Finally, HYPE broke past $41 but posted a modest gain of just 0.8%.
