Bitcoin climbed to a multi day high above 69,200 dollars earlier today as investors positioned ahead of an anticipated speech from Donald Trump regarding the ongoing conflict involving Iran.
At the same time, most large cap altcoins traded higher, with Ethereum moving above 2,100 dollars and XRP holding support around 1.30 dollars. Zcash and Hedera recorded some of the strongest gains among major assets.
Bitcoin Struggles Around 69K After Volatile Week
Bitcoin ended the previous week with a sharp decline that pushed it from 69,000 dollars down to about 65,600 dollars, dragging overall market sentiment into extreme fear territory. Selling pressure continued into Monday, when the price briefly touched a monthly low near 65,000 dollars as traditional futures markets opened.
Buyers eventually stepped in and prevented further losses. The asset recovered to around 68,000 dollars later that day before swinging back and forth between 66,000 and 68,000 dollars amid ongoing geopolitical developments.
Momentum improved after reports that the President of Iran indicated willingness to end the conflict under certain conditions. Bitcoin then climbed back to around 68,400 dollars before briefly breaking higher to 69,200 dollars following news that Trump would soon address the situation.
After the move, Bitcoin pulled back slightly to around 68,700 dollars. It has so far avoided recording a sixth straight monthly decline, with a market value of approximately 1.375 trillion dollars and dominance above 56 percent according to CoinGecko.
Oil Records Historic Monthly Surge
Oil markets experienced extreme volatility throughout the month as conflict involving Iran intensified and concerns over supply disruptions in the Strait of Hormuz increased.
As a result, crude oil ended March with a dramatic 60 percent gain. Brent crude futures recorded their strongest monthly increase in nearly four decades since the contract was first introduced.
Altcoins and Market Overview
Ethereum rose more than 3 percent in the past 24 hours, trading comfortably above 2,100 dollars. XRP held steady at 1.36 dollars after defending key support.
BNB traded above 615 dollars, while assets such as Chainlink, Zcash, Avalanche, and Hedera posted stronger gains among large cap tokens.
In contrast, a few assets including Bitcoin Cash, TRON, and CC recorded minor losses.
Overall, the total crypto market capitalization increased by roughly 60 billion dollars in a single day, reaching nearly 2.45 trillion dollars according to CoinGecko.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
