According to Patel, this triggered renewed interest in risk assets like cryptocurrencies. Bitcoin's price climbed 3.56% and was last seen trading at $105,077.64, with a strong 24-hour trading volume of $64.85 billion. In the past day alone, the price has fluctuated between $99,705.75 and $106,116.86, keeping traders on high alert.
Yes, and traders are watching closely. While the ceasefire brought in short-term bullish energy, all eyes are now on the upcoming speech by US Federal Reserve Chair Jerome Powell. Market watchers expect any dovish tone—especially hints of possible rate cuts—could push Bitcoin beyond its current resistance level of $107,700, according to Mudrex’s Edul Patel. There’s strong support forming near $103,200, suggesting that even if Bitcoin cools off slightly, it may remain on firm ground unless new global shocks emerge. It wasn’t just Bitcoin making moves. Ethereum (ETH), the second-largest crypto by market cap, also surged. At last check, Ethereum was trading around $2,409.36, up 7.43%, with a trading volume of $25.37 billion. In the last 24 hours, ETH traded between $2,191.42 and $2,434.24.
Other altcoins also rallied sharply:
Even Tether (USDT), the leading stablecoin pegged to the US dollar, saw a slight uptick, trading at $1, up 0.04%. According to Vikram Subburaj, CEO of Giottus Crypto Platform, the crypto market has switched back into a risk-on mode. With traditional equity markets bouncing and gold prices slipping, it’s clear that investors are feeling a bit more optimistic. Subburaj pointed out that Bitcoin is back in its previous consolidation zone above $105,000, suggesting that this level may now act as a launchpad for future gains—provided there are no surprises from the Fed or new geopolitical tensions. In addition to the major players, a few coins are catching traders’ eyes on CoinMarketCap’s trending list this Tuesday morning. These include: These names have gained momentum either due to strong price action, developer activity, or community engagement. Traders often watch these trending coins for short-term trading opportunities or emerging narratives. That’s the big question now. While Bitcoin has recovered impressively, profit-booking at higher levels has already started. Still, strong volume and bullish sentiment suggest the move has legs. Much will depend on macroeconomic signals from the US Federal Reserve and any unexpected global developments. If Powell’s speech later today indicates easing ahead, crypto bulls may get the fuel they need to push Bitcoin above the $107,700 resistance.
But if he sounds cautious or hawkish, expect a short-term pullback, possibly testing support near $103,200.
Bitcoin’s sharp rise above $106,000 signals a powerful comeback for the crypto market, fueled by easing geopolitical fears and renewed risk appetite. With Ethereum and altcoins tagging along, the market is showing strength—but the Fed's next move could decide whether this rally continues or cools down. Either way, traders have plenty to watch, from trending coins to central bank signals.
Bitcoin jumped after Trump's ceasefire news boosted global market confidence and crypto buying.
Yes, a dovish signal from Powell could push Bitcoin above its $107,700 resistance level.
