The overall crypto market, on Tuesday, reflected more losses than gains on the price charts owing to the ongoing market volatility. Bitcoin on Tuesday, showed a strong footing at the crucial support zone of $70,000 despite the prevailing geopolitical instability and changing prices of assets like oil and gold. At the time of writing, BTC was trading at $70,560 with a loss of 0.39 percent over the last day.
Ether joined BTC in reflecting resilience against the market pressure on Tuesday. The asset, that clocked a minor dip of under one percent in the last 24 hours, was trading at $2,143 at press time.
“BTC continues to face strong resistance around $71,500–$72,000, suggesting the current move may still be corrective. Ethereum remains comparatively weaker, struggling below the $2,250–$2,300 supply zone, with downside risks increasing if the $2,100 level fails to hold,” Riya Sehgal, the market research analyst at Delta exchange told Coin Headlines.
BNB, XRP, Solana, Bitcoin Cash, and Chainlink registered losses of under two percent. Monero, meanwhile, registered a price dip of 5.76 percent over the last day to trade at $5.76 percent. For Polkadot also, the loss percentage rounded off at seven percent, dragging its value down to $1.38.
Market analysis have pointed out that derivatives positioning continues to reflect continued caution, indicating that a sustained uptrend will likely require stronger confirmation from both macro stability and clearer regulatory direction.
The overall crypto market cap dipped by 0.07 percent over the last day, bringing the market’s valuation to $2.42 trillion, as per CoinMarketCap.
The markets, however, could enter fresh rally in the coming days given that U.S. President Donald Trump announced a temporary five-day pause on military strikes against Iran following “productive” talks, triggering a broad risk-on reaction across global markets.
The U.S. equity markets are also attempting a rebound, with the S&P 500 recovering toward the $6,590 level, up 1.15 percent. Meanwhile, gold is on track for its 10th consecutive daily decline as higher energy prices have raised concerns about a potential revival in inflationary pressures. Amid the broader market volatility, oil resumed gains on Tuesday after a steep drop on Monday, amid concerns that other nations may be drawn into the Middle East war.
“The broader backdrop remains fragile, with volatility still elevated and sentiment highly dependent on headline risk,” said Vijay Valecha, Chief Investment Officer, Century Financial. “The core issue remains the same. Higher oil prices lead the market to fear inflation, keeping the Federal Reserve on hold and financial conditions tight. Markets are increasingly pricing this war as a prolonged energy shock rather than a temporary event.”
In the crypto market, over 83,210 traders were liquidated in the last 24 hours with the total liquidations hitting $162 million, showed data by Coin Glass on Tuesday.
Leo, Stellar, Shiba Inu, OKB, and, Toncoin are among crypto assets that were trading in small profits on Tuesday. In the backdrop of President Trump’s peace talks around the Middle East conflict, the value of the World Liberty Financial token has risen by nearly six percent bringing its price to $0.1048.