Trump’s Iran Ceasefire Pushes Bitcoin Above $72K – ETH, SOL, XRP Lead Gains Among Crypto Majors

• Bitcoin briefly crossed $72,000 for the first time in three weeks following President Donald Trump’s ceasefire announcement.
• Ethereum led gains among the top 10 cryptocurrencies by market capitalization, rising more than 8% in the last 24 hours. 
• Retail sentiment around both Bitcoin and Ethereum improved to ‘neutral’ from ‘bearish’ on Stocktwits. 

Ethereum (ETH) led gains among the top 10 cryptocurrencies by market capitalization on Wednesday after Bitcoin’s (BTC) price crossed $72,000 for the first time in three weeks following President Donald Trump's announcement of a conditional ceasefire with Iran. 

“The United States of America will be helping with the traffic buildup in the Strait of Hormuz,” he wrote in a post on Truth Social. “Big money will be made. Iran can start the reconstruction process. We’ll be loading up with supplies of all kinds, and just “hangin’ around” in order to make sure that everything goes well.” 

Bitcoin Tops $72,000 On US-Iran War Pause

Bitcoin’s price rose 5.4% in the last 24 hours to around $71,700, paring gains after hitting an intra-day high of over $72,300, according to CoinGecko data. Retail sentiment around the apex cryptocurrency on Stocktwits moved to ‘neutral’ from ‘bearish’ over the past day, accompanied by ‘normal’ levels of chatter. 

Meanwhile, Ethereum’s price jumped 8.4% in the last 24 hours to over $2,250, leading gains among crypto majors. The leading altcoin also saw retail sentiment on Stocktwits improve to ‘neutral’ from ‘bearish’ territory over the past day. Chatter rose to ‘high’ from ‘normal’ levels. 

Will The Crypto Rally Continue?

Many users on Stocktwits believe that Ethereum’s price should continue to rally after the ceasefire. One trader on the platform said they would not be happy until Ethereum’s price finds new support at around $2,500.

Other users were more cautious, stating that the market’s optimism might be a little “premature.”

Crypto Liquidations Top $500 Million After Bitcoin Surge

Solana (SOL), Cardano (ADA), and Ripple’s XRP (XRP) also outperformed Bitcoin on Wednesday morning. Solana’s price jumped 7.1% in the last 24 hours to over $84, while Cardano’s price rose 6.9% to around $0.257 and XRP’s price rose 6% to around $1.38.

The overall cryptocurrency market gained 4.6% in the last 24 hours, climbing back above the $2.5 trillion mark. CoinGlass data showed $578 million in liquidations over the past day, with short bets totaling $426 million accounting for most of the forced unwinds.

Read also: Adam Back Denies He’s Satoshi Nakamoto, Says It’s ‘Coincidence And Similar Phrases’

For updates and corrections, email newsroom[at]stocktwits[dot]com.