The main digital assets went up with actions on Tuesday, according to the expectations that commercial disputes between the United States and China could see relief.
What happened: Bitcoin fed the rally, crossing the $ 93,000 mark for the first time since the beginning of March.
The widest market joined the rally, with Ethereum, which was previously resistant to Bitcoin’s advances, increasing towards 12% in the previous 24 hours. Bitcoin’s increase increased to 12.3%, a significant rebound in the 12% drop in the first quarter of 2025.
Batter positions with rally problems almost as difficult as $ 516 million in short positions were eliminated in the last 24 hours. However, if Bitcoin fell to $ 90,000, more than $ 677 million in bets that prices would increase could be at risk of getting lost.
Bitcoin’s open interest increased 12.18% in the last 24 hours to a new monthly peak, while the assets insured in the Ethereum futures contract increased by 15%. According to the long/short relationship, above 60% of Binance merchants with open positions of Bitcoin, they bet that the price of Bitcoin would fall, instead of increasing.
According to the index of Fear and Weed Crityto, the market mood changed drastically “panic” to “optimism.” The global capitalization of the cryptocurrency market was valued at $ 2.92 billion, after a 5.75% increase in the last 24 hours.
The actions showed a quick rebound on Tuesday. The Dow Jones industrial average increased 1,016.57 points, or 2.66%, to end by 39,186.98. The S&P 500 rose 2.51% to end at 5,287.76, while the Nasdaq compound centered in technology increased 2.71% to end by 16,300.42.
The recovery occurred after the United States Secretary of the Treasury, Scott Besent, suggested that commercial tensions with China could be facilitated, during a JPMorgan event in Washington.
In other updates, the International Monetary Fund reduced its 2025 growth prediction for the US.
Expert notes: Ali MartÃnezA significant cryptocurrency expert mentioned the area between $ 95,600 and $ 98,290 as the next key resistance for Bitcoin.
Another popular expert, using the Credibull Crypto name, warned not to celebrate too soon.
It will really depend on Bitcoin. If it falls soon, we are likely to see a setback. “But if Bitcoin continues to increase, there is the possibility that we can move forward,” said the expert. “We are still right at our level of resistance, so we still can’t celebrate.”
Also read:- BNB Price reaches $ 600 since the BNB chain dominates USDT transactions
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