Bitcoin Reclaims $71,000 As Ethereum, XRP, Dogecoin Rise 5% On Iran Ceasefire

Bitcoin is up 5% to reclaim the $71,000 level after President Trump overnight announced a two-week ceasefire with Iran.

Bitcoin ETFs saw $159 million in net outflows on Tuesday, while Ethereum ETFs reported $64.7 million in net outflows.  

Meme coin market capitalization jumped 4% to $34.7 billion over the past 24 hours.

Trader Commentary: 

Trader Lennaert Snyder maintained a bullish outlook, identifying $74,800 as the next key liquidity target. He added that short trades remain possible but should be treated as countertrend given the broader bullish bias.

Ted Pillows said Ethereum has broken above the $2,150 to $2,200 resistance zone, signaling near-term strength. A sustained move above $2,200 could push prices toward last month's highs. However, he cautioned that this may be a temporary rally rather than the start of a longer-term bull run, with expectations of new lows forming later in Q2 or Q3 2026.

Crypto chart analyst Ali Martinez said Solana is consolidating near the lower boundary of its channel, with $76.66 acting as key support and $96.04 as resistance.

If support holds, a potential double-bottom could drive prices toward $81 and $85, near the 50-day simple moving average. A breakdown below support could lead to a decline toward $68.54 or even $50.

For Dogecoin, Martinez noted the asset is consolidating within a triangle pattern, suggesting a potential breakout of roughly 29%, with direction dependent on whether price breaks above resistance or below support.

Image: Shutterstock