Bitcoin revisited lows near $98,000 before staging a significant rally above $103,000 amidst escalating tensions involving the USA, Israel, and Iran. This volatility triggered broader market gains, lifting major cryptocurrencies.
The broader crypto market capitalized on Bitcoin’s rebound, climbing approximately 6%. Ethereum demonstrated strong performance, surging nearly 11%. Solana (SOL) and Ripple (XRP) also posted notable advances, gaining 11.5% and 9% respectively.
Despite the upward price movement, overall market dynamics showed signs of caution. The global cryptocurrency market capitalization increased to $3.16 trillion. However, intraday trading volume declined by more than 8%, suggesting traders remained guarded despite rising prices.
Market sentiment indicators reflected this underlying apprehension. The Crypto Fear & Greed Index registered a reading of 37, indicating fear persists among participants. The altcoin season index remains low at 16, signifying continued Bitcoin dominance over the broader crypto asset class.
While major coins led the recovery, several emerging tokens captured significant attention during the session. Tokens including FUN, MOVE, BULLA, SPK, and MOG saw heightened interest, with Sonic (S) leading the pack with a 17.86% surge. Conversely, gold-pegged assets PAXG and XAUt experienced modest declines.