Ceasefire Hopes Lift Bitcoin, Ethereum, XRP Prices Above Key Levels
Bitcoin, Ethereum, and XRP jumped after Israel and Iran paused direct military operations and moved toward a ceasefire. At the time of writing, Bitcoin traded around $63,755 (+3.54%/24h), Ethereum at about $1,685 (+3.6%), and XRP recovered to roughly $1.16 (after a four-month low near $1.10). Risk sentiment improved globally, with US stocks rising alongside crypto as headlines suggested reduced near-term conflict risk.
For traders, Bitcoin’s rebound remains the market driver. The article highlights BTC holding above the $59,600–$60,000 support zone. If BTC loses that range, downside risk could open toward $56,500 and $53,300. The next upside test is the $64,000–$65,000 resistance area; a clean break could pull targets toward $71,500–$73,000, with attention potentially shifting to a CME gap near $79,000.
On positioning, the piece cites analyst Benjamin Cowen’s “supply in profit/loss” cycle signal, noting the metric has crossed to near-even splits (about 50.43% in profit vs 49.56% in loss). This is framed as consistent with a post-selloff reset rather than a confirmed final bottom.
Overall market cap rose about 2.70% to around $2.19T, with ETH leading the rebound.
Bullish
This is bullish for the short term because the news directly reduces near-term geopolitical risk, which historically tends to trigger a “risk-on” bounce across major crypto assets. The article shows immediate price recovery in Bitcoin, Ethereum, and XRP alongside rising US equities, a pattern similar to past periods when ceasefire/negotiation headlines eased fear premiums.
For traders, the key bullish trigger is Bitcoin holding above the $59,600–$60,000 support zone. As long as BTC maintains that floor, dips are more likely to be bought, keeping the rebound thesis alive. The next upside confirmation level is the $64,000–$65,000 resistance; breaking above it would strengthen market structure and likely pull momentum toward $71,500–$73,000.
At the same time, the piece warns that the profit/loss cycle cross (near-even split of holders) suggests a reset after selling rather than a guaranteed final bottom. That means long-term direction still depends on whether Bitcoin can sustain higher highs and whether the ceasefire narrative holds. If geopolitical headlines reverse quickly and BTC loses the stated support band, the move could flip from rebound into another liquidation phase.