The cryptocurrency market is witnessing a renewed investor momentum and appetite during rising geopolitical tensions. US-Iran conflict is causing Bitcoin to become a haven of safety for some and at the same, it is also extending support to leading altcoins. Why has Bitcoin risen today, despite rising pressures? It is up alongside other leading altcoins like Solana Pepe LINK.
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The Reason Behind Bitcoin’s Price Jump
Bitcoin has finally broken out of its lower price thresholds, breaching the $70K mark. Recent volatility has been felt by the asset as the geopolitical instability, combined with macro Fed development, continue to exert pressure on it. Bitcoin has risen above the turmoil in recent events. This is helping to boost other altcoins’ prices.
Santiment’s latest report shows that Bitcoin, Ethereum Solana Chainlink Pepe and Pepe all experienced significant price gains in one day. This report explains that crowd fud, accumulation and a general sense of excitement are driving this rally.
Global market instability is caused by the increasing war narratives, and looming spike in oil prices. Investors are flocking to the crypto space in order to protect their investments, which is causing it major inflows at the moment.
Santiment explained that investors are usually hurt more by selling off FUD, because markets often rebound after the initial shock.
“Bitcoin has rebounded back to $74K for the first time in a month, and Ethereum is teasing $2,200 again. Several assets like Solana (+9%), Chainlink (+7%), and Pepe (+9%) are also seeing major 1-day price jumps. What’s bringing on this price jump? Crowd FUD and key stakeholder accumulation, of course. When retail jumps out over major macroeconomic events (such as war or tariff announcements), they’re often left with no bags just as their bags would have become valuable again.
Major Coins Are Up, Indicative of High Market Demand
Santiment was quick to highlight how the market sentiment changed shortly after the crowd momentum went bearish for altcoins. As the general law of the market states that the crowd moves in the opposite direction of the prevalent momentum, altcoins are also rising up on the radar at press time. Per CMC, Bitcoin is up by 6% at press time, followed by ETH, BNB, XRP, and SOL, up by 3%, 4%, and 6%, respectively.
In memecoins, Pepe and Dogecoin have once again appeared in the mainstream, making themselves visible to the masses again.
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Source: watcher.guru
