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Bitcoin has surged 4.06% in the last 24 hours at $71,533 amid improved sentiment following the US-Iran ceasefire.
Ethereum rose 6.34% to $2,244, while Solana gained 6.16% to $84.78 on a broader altcoin rally. TRON was the only coin to defy the uptrend today.
Brent crude fell to $95 per barrel, marking a steep decline of nearly 16% and easing global inflation concerns.
Crypto prices today are in the green zone amid news of a two-week ceasefire between the US and Iran. The temporary peace has boosted investor sentiment and wiped out around $400 million in short positions overnight. Although the crypto market showed resilience throughout the war, today’s uptrend has strengthened the case for cryptocurrencies as new safe-haven assets.
Bitcoin is back above $71,500. Top altcoins like Ethereum, Solana, and Hyperliquid have all surged over 6% in the last 24 hours. The global market cap is up 3.72% at $2.44 trillion at press time. Oil prices have dipped by around 16%, a signal that the global energy crisis may soon stabilize.
Here is the latest crypto news and price movements, based on CoinMarketCap data.
Bitcoin price is up 4.06% in the last 24 hours to $71,533. It has a market cap of over $1.43 trillion. CoinSwitch Markets Desk noted, “Global markets saw a relief rally after Donald Trump announced a two-week ceasefire with Iran, reducing immediate concerns around energy supply disruptions. Equity futures, including the S&P 500 and Dow Jones Industrial Average, moved higher as sentiment improved.”
The analysts further elaborated, “Derivatives positioning remains moderately constructive, with a 0.41 put/call ratio. Call interest is positioned toward strikes above $80,000, suggesting upside expectations, while put positioning near $60,000 indicates continued downside hedging and defines a key support zone. Meanwhile, MicroStrategy has resumed BTC accumulation, adding 4,871 BTC after a brief pause, bringing its total holdings to 766,970 BTC.”
On the other hand, Akshat Siddhant, Lead quant analyst, Mudrex, stated, “BTC’s long-term uptrend will depend on further geopolitical clarity and macroeconomic figures such as the US CPI data. If the momentum continues, BTC could move towards the $75,000 level, confirming a breakout, while the support lies at the $68,000 zone.”
Here is how the top ten cryptocurrencies performed over the last 24 hours.
Biggest Gainers: Ethereum, Solana, Hyperliquid, Dogecoin
Sole Loser: TRON
The broader market reflected the same optimism. Hyperliquid has again taken the tenth spot in the world’s top ten coins, right above Cardano. The latter has jumped 6.93% to $0.2618, taking the eleventh spot.
Taking a cautious stance, Riya Sehgal, Research Analyst, Delta Exchange, stated, “Crypto trades as a high-beta macro asset, sensitive to liquidity, rate expectations, and geopolitical stability. Spot ETF flows and institutional participation have shown resilience, with March returning to net positive inflows, but remain insufficient to sustain a bull cycle without broader monetary easing.”
If you've been wondering why the crypto market is up today, the short answer is geopolitics, oil, and renewed risk appetite. Let’s check the details!
The biggest trigger for today's crypto price rally is the two-week US-Iran war halt. As part of the deal, Iran agreed to reopen the Strait of Hormuz, a waterway through which roughly 20% of global oil and LNG flows. The country has agreed to allow the safe passage of ships for the ceasefire period. Trump also said the US would help manage traffic through the strait, adding, "Big money will be made." Israel also stopped strikes on Iran, in solidarity with the US.
The deal was brokered with Pakistan's help, and negotiations are set to continue in Islamabad on April 10. The risk-on mood swept through global equities, too. India's Sensex surged over 2,700 points to reclaim 77,000 levels, while Nifty 50 gained 3.16% to cross 24,000. That broad market optimism fed directly into crypto, where risk appetite tends to amplify moves even further.
Directly tied to the ceasefire, crude oil prices fell as much as 16%, with Brent crude tumbling toward $95 per barrel. At the same time, WTI dropped to $96 a barrel, one of its steepest drops in nearly six years. Lower oil prices ease inflation pressure, which weakens the US dollar, and that has historically been a tailwind for crypto prices.
Total crypto market liquidations over the last 24 hours hit $596 million, with $430 million coming from short positions. That's a big bearish wipeout. It means traders who had bet on prices falling were forced to buy back their positions. Hence, adding fuel to the rally and pushing crypto prices today even higher.
Noting positive macro signals, WazirX Market's Desk commented, “The FDIC board proposed new standards for stablecoin issuers under the GENIUS Act, covering reserve, redemption, capital, risk-management, and custody requirements for FDIC-supervised institutions, a move towards allocating series growth of stablecoin adoption in the States.”
The analysts added, “Infrastructure-related developments such as Polygon’s Giugliano hard fork on mainnet, implementing faster transaction finality, updated fee parameters, and improved RPC support also acted as positive catalysts for retail sentiment.”
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Here are the top headlines impacting crypto prices today.
Iran's share of the global Bitcoin mining network fell by roughly 77% over the past quarter. It slipped from around 9 EH/s to just 2 EH/s. The conflict with the US and Israel is the clear cause. However, global hashrate has held relatively steady at around 1,000 EH/s. Hence, suggesting the mining power simply shifted to other regions rather than disappearing. The US remains the top mining nation with over 37% of global hashrate. It is followed by Russia at 17% and China at 12%.
The US SEC said many past enforcement actions against crypto companies served no real investor benefit and may have misread securities laws. Under the new Chair, Paul Atkins, enforcement actions against public companies dropped roughly 30% compared to the previous year. The agency says it is now focusing on genuine fraud and market manipulation rather than volume-driven enforcement. This shift is positive for the US crypto market, as it reduces regulatory uncertainty for the industry.
Binance founder Changpeng Zhao released his memoir this week. The book reveals that he never seriously planned to acquire FTX during its November 2022 collapse. He says Sam Bankman-Fried's request for billions was made casually, "as if asking for a bologna sandwich." He also identifies a public offer by Alameda CEO Caroline Ellison to buy FTT at $22 as the moment that triggered the professional short-selling. It sent the token from $22 to $5 in days, and set off the broader crisis.
Crypto prices today are driven by a real shift in global risk sentiment, not just speculation. Avinash Shekhar, Co-founder and CEO, Pi42, said, “From an investor perspective, this phase reflects improving confidence after recent volatility, where dips continue to be met with buying interest. This reinforces the view that the current trend remains constructive, with market participants closely watching macro developments for the next directional trigger.” Investors should keep an eye on how Friday's (April 10) Islamabad talks go between the US and Iran.
Also Read: XRP News Today: XRP Holders Record Biggest Paper Losses Since FTX-Era Market Collapse
Crypto prices are rising mainly due to improved global sentiment after the US-Iran ceasefire. This reduced fears of supply disruptions and boosted investor confidence. At the same time, falling oil prices lowered inflation expectations, which weakened the US dollar. These factors together created a strong risk-on environment, encouraging investors to move money into crypto assets like Bitcoin and altcoins.
Bitcoin crossed $71,000 due to a combination of macroeconomic and market-driven factors. The ceasefire reduced uncertainty, while a large number of short liquidations forced traders to buy back Bitcoin, pushing prices higher. Strong derivatives positioning and continued institutional accumulation also supported the upward move, helping Bitcoin regain key resistance levels.
Oil prices dropped by around 16%, which helped reduce inflation fears globally. Lower inflation often weakens the US dollar, making risk assets like crypto more attractive. As a result, investors shifted funds into digital assets. This chain reaction, falling oil, a weaker dollar, and stronger risk appetite played a key role in boosting crypto prices today.
Among the top performers, Ethereum, Solana, and Hyperliquid recorded gains of over 6% in the last 24 hours. Dogecoin also posted solid gains, reflecting strong retail interest. These altcoins benefited from the overall positive sentiment and tend to move more sharply than Bitcoin during market rallies.
The continuation of the rally depends on whether the ceasefire holds and macroeconomic conditions remain stable. If oil prices stay low and global tensions ease further, crypto markets could maintain upward momentum. However, key factors like inflation data, central bank policies, and geopolitical developments will still play a major role in deciding the next direction.
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