Analysts have identified a key reason for the growth of major cryptocurrencies

The price of leading cryptocurrencies continues to rise amid investor hopes that the truce between Iran and Israel will be maintained. Thus, Bitcoin BTC $107,233.46 Bitcoin 2.09% Market capitalization $2.13 trillion VOL. 24 hours $1.35 billion rose by 1.67% to reach $ 106,712, Ethereum ETH $2,429.14 Bridged Ether (StarkGate) 0.93% Market capitalization $0.15 billion VOL. 24 hours $1.03 billion added 2.73% to trade at $ 2,466, and Dogecoin DOGE $0.17 Binance-Peg Dogecoin 1.73% Market capitalization $0.42 billion VOL. 24 hours $93.79 million grew by 2.73% to $ 0.16. Although Bitcoin approached the $ 106,000 mark, it is still 4.75% off its all-time high. Ethereum recovered to over $ 2,400 and consolidated its position.

Bitcoin’s market share rose to 64.5%, while Ethereum’s share fell by about 9%. Over the past day, traders who opened short positions lost more than $ 115 million, which is the same amount of money that was liquidated in bets on the fall. The open interest in Bitcoin increased by 2.12% and exceeded $ 70 billion. At the same time, more than 60% of Binance traders holding positions on BTC are currently betting on a decline.

The total capitalization of the crypto market reached $ 3.28 trillion, which is 1.13% more than the previous day. Among the largest gains over the past 24 hours, analysts highlighted Sei (23.98%), Maple Finance (21.80%), and SPX6900 (13.76%). Against the backdrop of positive sentiment, the Crypto Fear & Greed Index remains in the «greed» zone.

Investors' optimism is supported by Donald Trump’s statements about the current truce between Israel and Iran, although the media periodically reports on the resumption of hostilities, which raises doubts about the stability of the situation. On the same day, traditional markets experienced growth: The Dow Jones rose by 507 points, the S&P 500 by 1.11%, and the Nasdaq by 1.43%.

Analysts note that for further growth, Bitcoin needs to close the day above $ 108,403. Some large traders, despite the positive background, increased their bets on Ethereum’s decline: one of them added another 10 thousand ETH to the short position, increasing the total volume to 50 thousand ETH with an unrealized profit of $ 13.9 million.