On Tuesday, the cryptocurrency market is exhibiting resilience as bitcoin (BTC) climbed to $76,500, marking an increase of approximately 1% since midnight UTC.
The digital currency reached nearly $77,000 at around 9:45 a.m. but encountered strong selling pressure from spot traders likely aiming to cap gains above Friday’s peak of $78,300.
Ether (ETH) saw a modest rise of 0.3%, reaching $2,320, as caution persists among investors towards altcoins following the weekend’s $290 million exploit involving KelpDAO.
The geopolitical tension in Iran continues to influence market dynamics, with U.S. Vice President’s scheduled visit to Pakistan for peace discussions potentially easing oil prices and subsequently boosting risk-related assets that have moved inversely since the conflict began.
In tandem, futures of U.S. stock indices are climbing, indicating a shift back towards risk-on sentiment.