The cryptocurrency market, including Bitcoin and other major altcoins, has started to show signs of recovery after a sharp decline due to global instability.
Shifts in International Dynamics
Markets were set in motion following the announcement of a 30-day ceasefire between the US and Ukraine, contingent upon Russia's acceptance. The US also lifted restrictions on intelligence sharing and resumed security assistance for Ukraine. Additionally, Canada and the US reached agreements to lift mutual tariffs, stabilizing international trade relations.
Altcoin Rebound
Ethereum appears stable, priced at $1,895, rising by 1.9% over the past 24 hours. XRP showed the largest gain among leading cryptocurrencies, increasing by 7.7%. Dogecoin also performed well with a 5.7% rise, while TRX was the only one among the top 10 cryptos to see a slight decline of 2.7%.
Liquidations and Market Sentiment Changes
According to Coinglass data, $382 million was liquidated across the market in the past 24 hours, with $250 million in short positions and over 104,000 traders liquidated. The Fear & Greed Index from Alternative shows market sentiment has slightly improved, rising from an 'extreme fear' score of 24 to a 'fear' score of 34.
Recent international agreements have contributed to the partial recovery of the cryptocurrency market. Participants should keep an eye on further actions on the international stage.
