Bitcoin Rebounds to $66,700 as Ethereum Surges 1.12% on Iran Tensions
Bitcoin rebounded from below $64,000 to $66,702.15 after U.S. and Israeli strikes on Iran, while Ethereum recovered above $1,974.11 as the crypto market cap declined 1.82% to $2.32 trillion. Over $420 million in liquidations occurred in 24 hours, with long positions making up over half.
1. Price Volatility and Levels
Leading cryptocurrencies traded sideways after slipping below overnight lows; Bitcoin moved from under $64,000 to close at $66,702.15, Ethereum regained $1,974.11, while Solana, XRP, and Dogecoin settled near $85.40, $1.36, and $0.09361 respectively. The total cryptocurrency market capitalization fell 1.82% to $2.32 trillion.
2. Liquidations and Market Sentiment
Over $420 million was liquidated in the last 24 hours, with long positions accounting for more than half of the total. Open interest remained largely stable as both retail and institutional traders maintained net long exposure, while fear-and-greed measures stayed firmly in extreme fear territory.
3. Analyst Projections
Traders view the recent military actions as largely priced in, suggesting that peak fear has passed and paving the way for a bullish rotation. Expectations include Bitcoin and equity gains over the next one to two months, and technical analysis shows a hidden bullish divergence near $67,559 support that could test previous highs around $126,000.