Bitcoin Price Rally: BTC Near $75K,Ethereum Skyrockets 8%: Cryptocurrencies Reacts to US-Iran Crisis

The cryptocurrency market is currently bullish, with major coins like Bitcoin and Ethereum posting big gains. Bitcoin price jumped to their highest level over the last 30 days as risk assets rallied on hopes that the US can strike a deal with Iran to end their conflict.

Trump ordered the Strait of Hormuz closure after ceasefire talks between the US and Iran collapsed over the weekend. The Strait is a critical passage for global oil shipments. The news initially pressured risk assets before traders shifted toward Bitcoin and other hedges.

Markets have been reacting to every diplomatic headline. Traders have been reacting sharply to each development in the conflict, with BTC moving several percentage points within hours of major headlines.

Bitcoin Price Today and Market Performance

Bitcoin price today is trading at $74,796.71, with a daily trading volume of $25.04 billion.The token has gained 5.62% in the last 24 hours.

"The rally is largely supported by $1.1 billion into crypto ETPs, the highest seen since mid of January.. If the momentum continues, the buying pressure could help BTC toward the $80,000 zone. On the other hand, Ethereum is closer to a breakout, with a sustained close above $2400 making way for $2,800, while $2100 acts as a support level, " said Akshat Siddhant, Lead quant analyst, Mudrex.

Ethereum & Other Altcoins Price Today

Ethereum price today stands at $2,382.97,with a sharp rise of 8.97% in the last 24 hours. The second-largest cryptocurrency has a market cap of $286.48 billion and a trading volume of $11.80 billion.

Stablecoins like Tether is trading at $1.00, with a market cap of $184.73 billion, while USD Coin is priced at $0.9996.
Other altcoins like , XRP is trading at $1.37, BNB is priced at $615.47, while Solana is trading at $86.04. Meanwhile, WhiteBIT Coin stands at $54.86, and Dogecoin is priced at $0.09363.

Where Could Crypto Go From Here?

"From a structural standpoint, Bitcoin continues to hold key support levels while attempting to build momentum near resistance. The ability to sustain above $70,000 and push toward $74,000 indicates underlying strength, even as the market remains sensitive to macro triggers. A sustained move above the $74,000-$75,000 zone would be critical to confirm a breakout, as this level has repeatedly capped upside in recent weeks. From an investor's perspective, the current setup suggests cautious optimism, with participants likely to turn more confident if Bitcoin manages to establish strength above this resistance range." said Avinash Shekhar, Co-Founder & CEO, Pi42

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