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The crypto market took off this morning! Over the weekend, Iranian officials sent peace signals to the CIA, and hopes for easing US-Iran tensions have risen, with global risk-off sentiment substantially declining. Oil prices fell in response, and risk assets rebounded collectively.
Bitcoin surged even more dramatically, jumping $1,800 in 30 minutes, nearly reaching the 40-day high of $74,300, triggering over $113 million in short liquidations, while also breaking through the 50-day moving average with strong technical buying pressure.
Not only that, but Bitcoin spot ETFs have maintained net inflows of $767 million over three consecutive weeks, while Ethereum ETFs have attracted $161 million in capital. Institutions are aggressively adding positions. With the 20 millionth Bitcoin about to be mined, scarcity is igniting FOMO sentiment. Total market cap increased by $9 billion in 24 hours, with ETH rallying 7.6% for the day. Did you catch this rally?