Cryptocurrency Markets Surge on Trump's Iran Peace Deal Comments

Cryptocurrency markets edged higher on Sunday as investors digested President Donald Trump's remarks about a potential Iran peace agreement.

BTC wobbled within a range of $62,890 to $63,700 with trading volume surging 19% over the 24-hour period. Ethereum remained stuck within $1,800 while XRP and Dogecoin traded in the green.

Nearly $150 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bearish short positions according to Coinglass data.

Michaël van de Poppe a widely followed cryptocurrency analyst and trader noted record-low Bitcoin sentiment and high net negative positioning in the current cycle.