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Why is Bitcoin suddenly up 8% at $77,000, with Ether and XRP rallying along?


- Bitcoin jumped 8% past $77,000, while open interest climbed to $122.46 billion and liquidations surged to $497.40 million, showing traders are piling in fast.
- Ether rose 8% to $2,350, XRP gained 4% to $1.40, and Solana added 6% to $86.30, pointing to a broad crypto move rather than a Bitcoin-only spike.
- Crypto momentum is building with the RSI still at a neutral 57.74 and the Altcoin Season Index at 34, which suggests the rally is heating up but has not yet turned into full risk-on mania.
Live Reporting
U.S. stocks are drawing fresh support from big Wall Street firms as investors bet the worst of the U.S.-Iran shock may not last.
Late on Monday, Citigroup lifted U.S. equities to overweight from neutral. The bank said it still sees room for stocks to rise into year-end, based on the view that the conflict will eventually cool down.
Beata Manthey wrote that Citi still expects upside by the end of the year if the U.S.-Iran war moves toward a stop. She also said the hit to consumer spending, inflation, and Federal Reserve rate thinking looks manageable as long as the current ceasefire path leads to a broader easing in fighting over the next few weeks.
The market has already shown that kind of resilience. On Monday, the S&P 500 closed at 6,886.24, wiping out the losses it had taken since the conflict began.
Earlier in the March selloff, the index had come close to correction territory, falling as much as 9.1% from the record close it set in January.
Citi was not alone. On Monday, BlackRock also raised its view on U.S. stocks to overweight from neutral. The firm said two things pushed it back toward risk.
One was clear evidence that flows through the Strait of Hormuz could reopen. The other was better visibility that the broader macro damage was being kept in check.
Inside the market, Citi is pointing investors toward materials, health care, and technology.
Bitcoin has unexpectedly surged by 6.5% on the day to trade above $75,000 at the time of writing.
Ether rose by 8% to hit $2,350, XRP gained 4% to hit $1.40, while Solana added 6% and traded at $86.30 at press time, according to Coinglass data.
In derivatives, crypto open interest surged to $122.46 billion, up by 7.95%, while liquidations hit $497.40 million, up by 78.91%.
Outside crypto, the broader market was steady heading into Tuesday. S&P 500 futures were up 0.06% on Monday night, Dow Jones Industrial Average futures rose 10 points, or 0.02%, and Nasdaq-100 futures added nearly 0.2%.
That followed a strong regular session where investors looked past the breakdown in weekend peace talks between the U.S. and Iran and held on to the view that some kind of deal could still happen.
Donald Trump claimed on Monday, “We’ve been called by the other side.” He also said, “They’d like to make a deal very badly.”
Tech stocks led the way. The State Street Technology Select Sector SPDR Fund, known as XLK, jumped about 2%, while the S&P 500 rose 1%. Monday’s advance wiped out the index’s losses since the Iran war began.
Investors also brushed off another jump in energy prices. West Texas Intermediate crude settled up 2.6% at $99.08 a barrel, while Brent rose more than 4% to $99.36. Oil moved higher after the U.S. began a blockade in the Strait of Hormuz.
Now attention is shifting to Tuesday’s earnings slate, with results due from JPMorgan Chase, Johnson & Johnson, Wells Fargo, and Citigroup.
In metals, gold is trading at $4,780 an ounce at press time, recovering most of the 0.6% it lost over the previous two sessions. Even after a moderate rebound in recent weeks, gold is still down about 10% since Trump’s war began on February 28th.
What to know
Bitcoin, Ether, XRP, and Solana are rallying as traders lean into risk again, with steady stocks, gold, and hopes for a U.S.-Iran deal helping the market.
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