Crypto Market Surges Amid Geopolitical Tensions
- The global crypto market cap reached $2.6 trillion on April 14, marking a more than 3% increase from the previous day.
- Bitcoin hit a session high of $74,959, briefly pushing its market cap past $1.5 trillion.
- Ethereum surged nearly 9% to reach $2,381, increasing its market cap to $287 billion.
- RAVE continued its rally with a record high of $14.18 before settling at $12.31, achieving a weekly gain of over 4,500%.
- The rally led to $540 million in liquidations for short sellers across various cryptocurrencies.
Despite escalating geopolitical tensions due to the U.S.’s blockade of the Strait of Hormuz, the crypto market showed resilience with significant gains in both Bitcoin and altcoins like Ethereum. The surge in prices triggered substantial liquidations among short sellers.
The crypto market’s capitalization climbed to over $2.6 trillion as major assets like Bitcoin and Ethereum posted impressive gains amid geopolitical tensions involving the Strait of Hormuz blockade by the U.S., highlighting investor confidence despite external pressures.(Source)
