Altcoins Post Double-Digit Gains as Bitcoin (BTC) Reclaims $70K: Market Watch

Bitcoin went through another volatile trading session yesterday after the latest developments on the US-Iran war front, going from under $68,000 to a multi-day peak of almost $72,000 before it lost some traction. Several larger-cap alts have charted impressive gains on a 24-hour scale, with ETH going to $2,150 and SOL rising above $90.

Key takeaways

Quick scan — what you need to know:

• Bitcoin went through another volatile trading session yesterday after the latest developments on the US-Iran war front, going from under $68,000 to a multi-day peak of almost $72,000 before it lost…
• Several larger-cap alts have charted impressive gains on a 24-hour scale, with ETH going to $2,150 and SOL rising above $90.
• BTC’s Latest Volatile Session After last week’s rejection at $76,000, bitcoin managed to remain at around $74,000 for a day or so before it tumbled below $71,000 in the hours heading to…
• Its rebound was short-lived as Powell’s hawkish words sent it south once again toward $70,000.

Background

What led here, in plain terms:

• It remained between $69,000 and $71,000 on Saturday, but Trump’s warning to ‘obliterate’ Iran’s power plants if it doesn’t safely reopen the Strait of Hormuz pushed it…
• Once the futures markets opened on Sunday evening and Monday morning, bitcoin dipped again to under $67,500.
• It traded around $68,000 yesterday before Trump announced that the US and Iran had reached some sort of a de-escalation deal and paused all military action against the latter’s power plants.
• However, immediate reports from Iran denied these claims, saying there were no negotiations between the two parties.

Why it matters

Why readers and decision-makers should care:

• The total crypto market cap has added almost $100 billion in a day, and now stands above $2.5 trillion on CG.
• Cryptocurrency Market Overview March 24.
• Source: QuantifyCrypto The post Altcoins Post Double-Digit Gains as Bitcoin (BTC) Reclaims $70K: Market Watch appeared first on CryptoPotato.