The crypto market added about 8.15% in seven days and reached roughly $2.25 trillion by June 16. A US-Iran ceasefire framework drove the move, as it eased oil and inflation pressure on risk assets. The rally lifted nearly every major coin, yet the Crypto Fear and Greed Index stayed at 25, still in Extreme Fear.
CoinMarketCap data shows the market’s top 10 list needs adjustment as Tether and USDC are stablecoins. Their prices barely move by design, so the strongest price action came from the non-stablecoin assets below them.
After that adjustment, the largest price-moving cryptocurrencies posted a broad weekly gain. Bitcoin and Ethereum rose by less than 5%. Solana gained about 10%, while Zcash climbed nearly 13%.
Hyperliquid led the group with a 16% rise. TRON was the only major coin in red, falling about 2%. The pattern pointed to a wider recovery, though not a fully uniform one.
The main driver came from macro conditions, not crypto-specific news. The ceasefire framework signaled a possible reopening of the Strait of Hormuz, with a signing scheduled for Friday in Switzerland. That prospect pushed oil prices lower.
Lower oil prices reduced inflation pressure and helped risk assets recover. Crypto, which often reacts sharply to shifts in risk appetite, moved higher across the board. The move also matched the kind of relief rally that sends traders toward higher-beta assets.
The same direction across most of the top coins suggests a shared catalyst. The gains aligned more with broad market relief than with individual coin stories.
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Even after the weekly advance, sentiment stayed weak. The Crypto Fear and Greed Index remained in Extreme Fear at 25. Earlier in the period, it had spent much of May in the Fear range before slipping lower in early June.
CoinMarketCap data shows that Bitcoin fell below $60,000 during the recent downturn. Since then, the index has only started to recover from those lows. That gap between price and sentiment shows traders still lack full conviction.
Standard Chartered’s head of digital assets research, Geoffrey Kendrick, said Bitcoin may already have set the cycle low. He pointed to better investor flows, corporate buying, and softer macro pressure.
Last Friday, Kendrick said Bitcoin’s slide to about $59,000 could mark the bottom. He wanted three signals before growing more confident: renewed buying by Strategy, positive ETF inflows, and continued weakness in oil prices.
The crypto market cap rose 8.15% to about $2.25 trillion, driven by a US-Iran ceasefire framework that eased oil and inflation fears. Bitcoin, Ethereum, and other major coins recovered, but sentiment stayed in Extreme Fear. The next move may depend on Friday’s signing and whether momentum holds.