The crypto market surged rapidly! Over the weekend, Iranian officials sent peace signals to the CIA, with hopes of easing US-Iran tensions. Global risk-aversion sentiment eased, oil prices fell back from the $120 high to around $101, and risk assets rebounded strongly.

Bitcoin led the way, breaking through the 50-day moving average ($71,125) in a short time and holding steady, with prices reaching highs of $73,000-$75,000, showing significant liquidation effects for shorts. Meanwhile, spot Bitcoin ETF continued to see net inflows of nearly $170 million, with institutions continuously increasing positions.

Additionally, the scarcity narrative of the 20 millionth Bitcoin about to be mined, the progress of the CLARITY Act, and reduced opportunity costs from FOMC rate cut expectations have jointly driven the total market cap to surge by $2.39 trillion in 24 hours, with mainstream coins rising in sync! $ETH $BNB $XRP