Bitcoin rebounds to $63.5K and altcoins rally following geopolitical de-escalation between US and Iran.
Macro & Markets ·
Bitcoin recovered to $63,500 on Sunday morning after US President Trump announced the cancellation of planned attacks against Iran, reversing a multi-week low of just over $62,000 reached the prior evening. The geopolitical de-escalation catalyzed broader market gains, with the total cryptocurrency market cap rising $40 billion to $2.250 trillion. Most larger-cap altcoins moved higher, led by Cardano's native token, which surged 9% to $0.185, while XRP and Solana posted minor increases.
The rebound followed a volatile period around the FOMC meeting earlier in the week, when risk-off positioning had pushed Bitcoin down to $62,400 on Friday. BTC's market dominance remained below 57% despite the recovery, indicating broad-based strength across alternative assets rather than concentrated gains.
What remains unclear is whether the recovery will sustain above $63,500 or face renewed pressure, and whether the geopolitical relief represents a durable shift in market sentiment or a temporary reprieve before fresh macro headwinds emerge.