Bitcoin Reclaims $105,000 Milestone

After facing a dip below the $100,000 threshold, Bitcoin has staged an impressive comeback, currently trading around $105,306 with nearly a 4% increase on the day. This recovery comes amidst easing geopolitical tensions between Iran and Israel, which has positively impacted the broader crypto market.

Ethereum and Altcoins Follow the Uptrend

Ethereum has also bounced back swiftly from a weekend slump triggered by the Middle East conflict, now sitting at approximately $2,400. While ETH slipped about 7% over the week, the 24-hour gains highlight investor confidence returning. Altcoins like XRP, Solana, Dogecoin, and Cardano are registering notable daily gains, affirming the bullish market sentiment.

Traditional Markets Also Rally

Alongside cryptocurrencies, indices like Nasdaq 100 and S&P 500 are up about 1% since June 23. This parallel rise is largely attributed to reports of a phased ceasefire between Iran and Israel, announced by former U.S. President Donald Trump, which has calmed investor nerves worldwide. Conversely, the oil market has experienced a downturn, with U.S. crude oil prices falling by roughly 7% amid ongoing uncertainties.

Key Factors and Upcoming Market Drivers

Traders are awaiting fresh U.S. consumer confidence data expected to influence market momentum further. Additionally, Federal Reserve Chair Jerome Powell will present the semiannual monetary policy report to Congress, which could provide critical signals for both traditional and crypto investors. Analysts encourage vigilance as market dynamics may shift based on these developments.