Crypto Market Rallies After Ceasefire Extension and Short Liquidations
Bitcoin (BTC) reclaimed the $77,500 level after President Donald Trump extended the Iran ceasefire, easing immediate geopolitical fears and supporting risk sentiment across global markets. The move triggered strong volatility in crypto markets, with approximately $120 million worth of short positions liquidated within the last two hours, accelerating upward momentum.
The broader market followed Bitcoin’s recovery, with Ethereum (ETH) and XRP also posting gains amid ongoing uncertainty surrounding the second round of US–Iran peace talks. Bitcoin is currently trading above $77,000, marking a gain of more than 4% so far this week, signaling renewed bullish confidence among traders.
Bitcoin Technical Indicators Support Further Upside
Momentum indicators remain constructive, with the Relative Strength Index (RSI) near 64 and the MACD staying in positive territory. Immediate resistance is seen near $78,962, followed by the psychological $80,000 level and the 200-day EMA at $82,455.
Ethereum and XRP Show Strength at Key Resistance Levels
Ethereum (ETH) is approaching the 200-day EMA at $2,653, and a confirmed close above this level could open the door for further upside movement. Meanwhile, XRP has closed above its 50-day EMA at $1.41, indicating strengthening bullish sentiment and the potential for additional price expansion.
Despite geopolitical uncertainty tied to ongoing negotiations, technical signals across major cryptocurrencies suggest the possibility of continued gains in the near term if resistance levels are successfully cleared.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.