Crypto Markets Surge as Trump Cancels Planned US Attacks on Iran
The cryptocurrency market has experienced a boost in value following the de-escalation of tensions between the US and Iran. Bitcoin's price dropped to $62,400 on Saturday but rebounded to $63,500 after US President Donald Trump canceled planned attacks against Iran.
Most larger-cap altcoins have turned green with minor increases, led by Cardano's native token, which has jumped by 9% to $0.185. The total crypto market cap is up by $40 billion since yesterday's low and is now at $2.250 trillion.
The business week began on a more positive note after last weekend's de-escalation in the Middle East. Bitcoin had remained above $64,000 but uncertainty ahead of the FOMC meeting led investors to de-risk by offloading BTC, resulting in a massive drop to $62,800.