Leading cryptocurrencies stayed weak alongside stocks on Tuesday as President Donald Trump warned the U.S. would wait only for a “limited period of time” if a deal with Iran is not made sooner.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.05% | $76,666.92 |
| Ethereum (CRYPTO: ETH) |
-0.77% | $2,107.43 |
| XRP (CRYPTO: XRP) | -2.39% | $1.35 |
| Solana (CRYPTO: SOL) | -1.17% | $84.09 |
| Dogecoin (CRYPTO: DOGE) | -1.67% | $0.1026 |
Crypto Market Loses Momentum
Bitcoin wiggled in the range between $76,000 and $77,000, even as 24-hour trading volume fell drastically. Ethereum fell below $2,100 in the early trading hours, before recovering slightly in the evening. XRP and Dogecoin traded in the red.
Cryptocurrency-related stocks slipped further, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.20% and 0.53%, respectively.
Over $150 million was liquidated in the past 24 hours, with $104 million in long positions alone erased, according to Coinglass data.
Bitcoin’s open interest fell nearly 1% over the last 24 hours, with the majority of retail and whale derivatives traders on Binance positioned long on the leading cryptocurrency.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Block Street (BSB) | +23.21% | $0.8309 |
| Banana For Scale (BANANAS31) | +14.49% | $0.01140 |
| Sahara AI (SAHARA) | +13.35% | $0.03689 |
The global cryptocurrency market capitalization stood at $2.55 trillion, following a contraction of 0.30% over the last 24 hours.
Stocks Slide As Investors Fear Iran War Resumption
Stocks fell sharply on Tuesday. The Dow Jones Industrial Average slid 322.24 points, or 0.65%, to close at 49,363.88. The S&P 500 lost 0.67% to end at 7,353.61, while the tech-heavy Nasdaq Composite ended down 0.84% at 25,870.71.
Trump told reporters at the White House that he was “an hour away” from ordering a strike on Iran and, and would wait only for a “limited period of time” if a deal is not made sooner.
Can Bitcoin Rally Big From Here?
Widely followed cryptocurrency analyst Ali Martinez said Bitcoin could rally toward $94,850 as long as it holds above $72,960, citing data from Market Value to Realized Value pricing bands.
These bands use statistical deviation from the Market Value to Realized Value ratio’s all-time average to identify potential market tops and bottoms.
“Losing this level could put Bitcoin at risk of a deeper correction toward the realized price around $54,270,” Martinez predicted.
Michaël van de Poppe, another prominent cryptocurrency commentator on X, said Bitcoin “doesn’t look great” and needs to break $79,100 to get momentum back in the market.
“If this area doesn’t hold, then we’re most likely cascading through the lows of the recent rally and test <$65,000 for support," the analyst projected, citing headwinds from the oil rally and higher Treasury yields
Image via Shutterstock/ Robert V Schwemmer
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