After dropping over the weekend, total crypto market capitalization is up 3.5% to $2.43 trillion.
Crypto markets are starting the week in the green despite the ongoing conflict in the Middle East, with most major altcoins posting gains.
Bitcoin (BTC) is trading at around $69,000, up nearly 5% over the past 24 hours, after reaching as high as $70,100 earlier in the day. Meanwhile, ETH and SOL are up 4% at $2,050 and $87, respectively, and BNB is up 3% on the day.
The overall crypto market capitalization is up 3.5% at $2.43 trillion, according to Coingecko.
The rebound comes after crypto markets initially sold off sharply over the weekend as the U.S. and Israel conducted a series of airstrikes against Iran, killing its head of state and high-ranking military commanders. Iran subsequently retaliated against its U.S.-allied neighbors, sparking fears of a wider war.
Most of the Top 100 digital assets posted gains over the last 24 hours.
Top gainers include Near Protocol (NEAR), MORPHO, and Ethena (ENA), which rallied 14%, 12% and 10%, respectively.
Polygon (POL) and Canton (CC) are today’s biggest losers, down around 3%.
Around 112,000 leveraged traders were liquidated for $437 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $182 million, while ETH positions made up $114 million.
Elsewhere, U.S. stocks reversed pre-market losses to trade relatively unchanged on the day, while precious metals pulled back. Gold is changing hands at $5300/oz, while silver fell 7% to $87/oz.
Source: https://thedefiant.io/news/markets/bitcoin-rebounds-to-usd70-000-as-middle-east-conflict-rages-on