Bitcoin’s recovery following Trump’s statement about a deal with Iran continued in the past 24 hours as the asset exceeded $67,000 for the first time in two weeks before it was stopped.
Ethereum jumped past $1,800 before the bears stepped up, while HYPE and XLM have marked the most significant gains from the larger-cap alts today.
BTC Tapped $67K
After dumping below $60,000 during the first week of June, bitcoin began its gradual recovery with a quick reclaim of that level. The following week was somewhat sluggish, as the asset spent it trading sideways between $61,000 and $64,000. It moved mostly when there was news about the war in the Middle East.
As such, Trump’s promise on Saturday that the US and Iran would announce a deal on Sunday brought some hope in the market. However, there were new attacks from Israel on the following day against Lebanon, which put further doubt on the already fragile situation.
Nevertheless, the POTUS indeed announced a deal with Iran on Sunday evening, which sent BTC higher immediately. The asset traded just under $64,000 before it shot up to $66,000. It kept climbing on Monday and briefly jumped past $67,000 for the first time in two weeks.
Although it has been stopped there, it still trades above $66,000 now. Its market cap has climbed to $1.330 trillion, while its dominance over the alts is at 56.5%.
BTCUSD June 16. Source: TradingView
HYPE Keeps Pumping
Most altcoins followed the green wave, including ETH, which tapped $1,850 for the first time since the start of the month. Ripple’s XRP also charted notable gains, surging to nearly $1.30 amid improved sentiment. SOL is up to $74, while HYPE continues to outperform. Hyperliquid’s native token has stolen the show again by surging past $70 after another double-digit pump.
XLM and UNI have risen by over 12% each as well. The former has tapped $0.21, while the latter is close to $3. ZEC is up to $523 after a 5% increase. In contrast, TON and TAO have dropped by over 5%.
The total crypto market cap is up by another $25 billion in a day to over $2.350 trillion on CG.
Cryptocurrency Market Overview June 16. Source: QuantifyCrypto
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