Crypto Prices Surge on US-Iran Ceasefire Optimism
Cryptocurrency prices rose as the US-Iran ceasefire reduced military tensions and boosted investor sentiment.
Bitcoin hit $65,500 before facing resistance, while Ethereum spiked to $1,960.
Market data indicates significant short covering, suggesting a reduction in bearish bets despite prevailing fear sentiment.
Analysts believe the crypto market has likely reached its bottom, with strong potential for Ethereum and altcoins to outperform Bitcoin.