Crypto Market Sees Marginal Improvement as BTC Holds Above $65,000
The cryptocurrency market has seen a marginal improvement in sentiment as Bitcoin (BTC) holds above $65,000. Ethereum (ETH) is approaching its key supply and inflection point at $2,000, while Ripple (XRP) hovers slightly above $1.10.
This development comes as the United States (US) has temporarily suspended military operations with Iran, allowing for diplomatic efforts to proceed. Global oil prices have eased as a result, but shipping activity in the Strait of Hormuz remains low.
The Fear & Greed Index has increased slightly from 28 to 33, reflecting investors' hopes for a lasting US-Iran peace agreement. Blockware Intelligence notes that if BTC sustains a breakout above its short-term holder realized price of approximately $69,000, it would provide strong confirmation that the worst of the bear market is behind us.