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Ahmed Barakat
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Crypto has started the week with a completely different mood. Just days ago, traders were preparing for another round of geopolitical escalation. Instead, the United States and Iran have now held fire for a second consecutive day, oil prices have dropped by 5%, and risk appetite has returned. If you’re wondering why crypto is up today, this shift in sentiment is where the news and story begin. Today, we also see the ETH BTC ratio breaking higher, adding another bullish signal.
Bitcoin climbed back above $65,000, Ethereum led gains among major crypto coins, and bearish traders were caught offside. More than $200 million worth of crypto positions were liquidated over the past day, with the vast majority coming from shorts forced to cover their positions.
For the first time in weeks, the rally feels supported by improving macro conditions instead of speculation alone.
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The biggest catalyst behind today’s rally came from outside the crypto space. A second day without fresh military strikes between the United States and Iran pushed oil prices sharply lower, encouraging investors to rotate back into risk assets. Bitcoin reclaimed $65,000 while Ethereum accelerated even faster, reviving talk that the market may be entering the early stages of a recovery.
Institutional demand has also remained healthy. Spot Bitcoin, Ethereum, Solana, and XRP ETFs attracted a combined $152 million in weekly inflows despite minor Bitcoin ETF outflows earlier in the week. Meanwhile, attention is returning to Washington as reports suggest the final version of the CLARITY Act could arrive this week, although Senate hurdles still remain.
Another closely watched story involves Strategy. The company has now gone four straight weeks without purchasing additional Bitcoin as it builds cash reserves ahead of earnings. Michael Saylor has teased “another color” on social media, fueling speculation that another announcement could be approaching.
One of today’s more surprising headlines came from BitMart. The exchange announced plans to wind down operations after nearly nine years, following recent exits by AscendEX and BitMEX. We have noticed this pattern before. During previous bear markets, weaker exchanges often disappeared as liquidity dried up, with stronger platforms eventually emerging after the dust settled. Many still view exchange capitulation as a sign that the market may be moving closer to a long-term bottom.
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ΩETH BTC Ratio Breakout Puts Ethereum in the Spotlight
Bitcoin is trading around $65,300 to $65,500 after reclaiming the key $65,000 level. Today’s crypto recovery is being supported by improving sentiment, positive ETF flows, and heavy short liquidations rather than excessive leverage from buyers.
Ethereum has stolen the spotlight. The second-largest crypto is trading around $1,950 to $1,965 after gaining more than 4% in a day. More importantly, the ETH BTC ratio has climbed back toward 0.030 after breaking above a multi-month downtrend.
ETH BTC ratio has historically strengthened before capital rotates into the wider altcoin market. Previous bull cycles saw Ethereum outperform Bitcoin before gains spread across larger altcoins and eventually smaller projects. It is not a guarantee, but the pattern has repeated often enough to stay on traders’ radar.
Other signs of improving risk appetite are emerging. Shiba Inu has climbed roughly 25% over the past week, while long-term Bitcoin holders continue showing little interest in selling. At the same time, fresh discussion around quantum computing has resurfaced, although many experts argue governance remains a bigger challenge than any immediate technological threat.
Today’s crypto news reflects easing geopolitical tensions, falling oil prices, healthy ETF inflows, aggressive short liquidations, and a strengthening ETH BTC ratio. Together, they paint a much stronger picture than the market offered only a few days ago. If Bitcoin continues holding above $65,000 and the ETH BTC breakout extends, today’s rally could become the first chapter of a much broader recovery rather than another short-lived bounce.
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