Amid rising geopolitical tensions, investor momentum and investment appetite are once again increasing in the crypto market. The war between the US and Iran has helped Bitcoin become a safe haven for many, while also extending support to major altcoins while adding reliable support to BTC. As pressure mounts, why is Bitcoin rising today alongside major altcoins like Solana, Pepe, and Link?
Reasons behind Bitcoin price hike
Bitcoin has finally broken through the price floor and breached the $70,000 mark. The asset has been subject to wild volatility recently, as geopolitical instability and macro Fed moves continue to weigh on the asset. However, amid new developments, Bitcoin seems to have weathered the turmoil, helping other altcoins jump to a higher price pace as well.
According to Santiment’s latest report, Bitcoin, Ethereum, Solana, Chainlink, and Pepe have experienced significant price increases in one day. In the report, we shared how crowd noise and build-up were key themes driving this rally forward.
Simply put, rising talk of war and the impending rise in oil prices are causing uncertainty in global markets. Investors are flocking to the crypto space to secure their assets, helping to attract massive capital inflows in the meantime.
Additionally, Santiment said that selling out of FUD typically results in greater losses for investors, as the market tends to price out immediately after such severe shortcomings.
“Bitcoin has rebounded to $74,000 for the first time in a month, and Ethereum is teasing $2,200 again. Several assets such as Solana (up 9%), Chainlink (up 7%), and Pepe (up 9%) also saw price spikes on the day. What caused this price spike? Of course, it’s the FUD of the crowd and the accumulation of key stakeholders. When retail businesses fly through major macroeconomic events (such as wars or tariff announcements), they are often left without bags, just as they become valuable again.
Major coins rise, showing high market demand
Santiment was quick to highlight how market sentiment changed shortly after the crowd turned bearish on altcoins. Altcoins are also gaining traction at the time of writing, as the general law of the market states that crowds move in the opposite direction of trends. According to CMC, Bitcoin is up 6% at the time of writing, followed by ETH, BNB, XRP, and SOL, which are up 3%, 4%, and 6%, respectively.
When it comes to meme coins, Pepe and Dogecoin have re-entered the mainstream and caught the eye of the masses once again.
(Tag translation) Bitcoin
