Bitcoin Jumps 3% as Ceasefire Hopes Lift Crypto Market

Bitcoin started the week strong, rising about 3% to roughly $69,120 as traders came back after Easter. This gain reflects improving market sentiment, mainly driven by hopes of a ceasefire involving Iran. This pushed Bitcoin to its highest point in a week, suggesting traders are more willing to take risks.

The positive trend wasn’t limited to Bitcoin. Ethereum rose 3.7% to $2,130, marking its best intraday gain in several days. Other major altcoins also advanced: Solana increased by 2%, XRP by 2.2%, and Dogecoin by 1.7%. As a result, the total crypto market cap moved above $2.5 trillion again.

The main factor behind this rally is speculation around a possible 45-day ceasefire, with talks reportedly ongoing between the US, Iran, and regional mediators. Additionally, higher activity through the Strait of Hormuz has somewhat eased market concerns. Still, strong statements from Donald Trump have kept some geopolitical uncertainty alive despite the overall optimism.

Volatility remained high, with Bitcoin trading within a wide range from $66,634 to $69,350—a $2,700 spread. This quick upward move surprised many short sellers, leading to liquidations and pushing the rally further.

Santiment data showed that social sentiment was very bearish over the weekend, reaching its lowest point since the conflict started. In the past, such intense negativity has often come just before short-term rebounds, which seems to be happening now.

Even with the rally, Bitcoin is still fluctuating within a broader range between $65,000 and $73,000. key resistance levels at $71,500 and $81,200. The next big move will likely depend on whether the proposed ceasefire actually takes effect.