The cryptocurrency market has experienced a sharp recovery after a recent decline triggered by geopolitical factors. Bitcoin and other altcoins showed significant growth.
Overview of the Crypto Market Situation
Over the past three days, the crypto market faced a downturn due to news of conflict between the U.S. and Iran. However, today sees a sharp rise, with the market capitalization reaching $3.26 trillion, a 4.26% increase from the previous day. Trading volumes are up by 10%, indicating renewed investor interest.
Bitcoin Price Dynamics and Resistance
Bitcoin has crossed the $105,000 mark after the announcement of a ceasefire between Israel and Iran. However, technical analysts warn that Bitcoin is not yet in a fully bullish trend. Critical resistance levels at $108,900 and $110,654 need to be breached for a structural change.
SEI Metrics and Its Growth
SEI has emerged as one of the top-performing altcoins, soaring over 35% to $0.271. Currently, the token boasts 8.1 million active addresses and $10 million in daily inflows. Analysts note that if SEI can maintain levels above $0.26–$0.27, the next target could be in the $0.70–$0.80 range.
Given the recent shifts in the cryptocurrency market, participants anticipate whether the bullish trend will sustain or if a correction will occur. Monitoring Bitcoin prices and overall market conditions will be crucial for traders' next steps.
