What happened: Geopolitical tensions eased as the U.S. and Iran paused military strikes, leading to a 'risk-on' rally across global markets. Bitcoin climbed back above the $65,000 mark, while oil prices (WTI) plunged roughly 5% to $85. Interestingly, Ethereum is currently outperforming Bitcoin, suggesting a possible rotation into altcoins. Analysts also point out that Bitcoin might be nearing a cycle bottom, roughly 827 days since the last halving, setting the stage for a potential bull run. Meanwhile, Binance has maintained its market dominance, seeing net inflows even as the broader market faced outflows.
Why it matters: Peace is good for business. When geopolitical fears fade, investors move money out of 'safe havens' like oil and back into 'risk assets' like crypto. The drop in oil also helps cool inflation fears, though all eyes remain on the upcoming Federal Reserve meeting. For crypto fans, ETH's strength is a sign that the market might be getting ready for an 'altseason,' even if Bitcoin still holds the lion's share of the market at 58.6%.
