HYPE, ZEC Explode After Peace Deal Announcement, BTC Taps 12-Day High: Market Watch

After a relatively quiet weekend, bitcoin’s price rose on Sunday evening to $66,000 for the first time in almost two weeks, following US President Donald Trump’s announcement that the deal with Iran is essentially complete.

The total crypto market cap has added over $50 billion daily, going past $2.330 trillion on CG, as many alts have produced impressive gains.

BTC Touched $66K

Bitcoin crashed and burned at the start of June, dropping from $73,000 to a multi-month low of $59,100 before it finally found some support and began its gradual recovery. The following week was somewhat more positive, as BTC jumped toward $64,000 on several occasions but was stopped at each attempt to break through.

The subsequent rejections, driven mostly by macro factors like new attacks in the Middle East, resulted in price dips to $61,000. Nevertheless, that support level held, and BTC rebounded toward the upper boundary of its sideways channel.

The past weekend was quite sluggish, even though Trump promised on Saturday that the US and Iran would announce a permanent deal on Sunday, but there were more attacks from Israel against Lebanon on that day. On Sunday evening, though, came the long-anticipated announcement, with Trump stating on Truth Social that the deal was essentially complete.

BTC reacted with an immediate price pump, going to $66,000 earlier this morning for the first time since June 3. It has lost a few hundred dollars since then, but it’s still 2% up on the day. Its market cap has surged to $1.315 trillion, while its dominance over the alts remains above 56.5% on CG.

Alts Rebound

Most larger-cap alts are well in the green today. Ethereum has reclaimed the $1,700 level after a 2.5% increase. BNB is close to $620, while XRP has exceeded $1.18. SOL is well above $70, while ADA has pumped by 6%.

HYPE is up by almost 10%, and ZEC has risen the most from the top 100 alts. The privacy coin has gained 16% and trades close to $500. WLD follows suit, as a 15% increase has driven it to $0.59. NEAR and JUP complete the double-digit price gainers club.

The cumulative market cap of all crypto assets is up by just over $50 billion daily to $2.330 trillion as of now on CG.

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