Bitcoin Jumps To $70K – Crypto Rallies After Trump Says Iran War Will Be Over ‘Very Soon'

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Key points:
President Donald Trump said on Monday that the war with Iran like like to be over “very soon” but did not specify a timeline.
The overall crypto market rose around 4.4% to nearly $2.5 trillion over the past 24 hours.
The rally triggered roughly $377 million in liquidations, including about $219 million in short positions.
Bitcoin (BTC) hit $70,000 as the rest of the cryptocurrency market rallied after U.S. President Donald Trump said he expects the war with Iran to be over “very soon.”

“We’re ahead of our initial timeline by a lot,” he said during a press conference in Florida, adding that a larger attack on Iran was still possible if the country continued to block shipping through the Strait of Hormuz.

The overall cryptocurrency market jumped 4.4% in the last 24 hours to nearly $2.5 trillion. This triggered around $377 million in liquidations, according to CoinGlass data, with short bets amounting to around $219 million.

What Is Retail Saying About Bitcoin?

Bitcoin’s price rose 5.2% in the last 24 hours to around $70,300. Retail sentiment on Stocktwits around the apex cryptocurrency shifted to ‘bullish’ from ‘neutral’.

Some investors were hoping that Bitcoin would continue to climb and perhaps cross $85,000 for the first time since January.

https://www.stocktwits.com/Counting_My_Lucky_Stars/message/647070744

Others also wanted Bitcoin’s price to rally, not because they were looking to make a profit, but because they were looking to break even from buying at higher prices.

https://www.stocktwits.com/Burky90/message/647070502

Altcoins Join Crypto Market Rally

Solana (SOL) and Ethereum (ETH) led gains among altcoin majors. Solana’s price rose 4.7% in the last 24 hours to around $86, while Ethereum’s price rose 4.5% to cross $2,000. Retail sentiment around Solana trended in ‘neutral’ territory while sentiment around Ethereum remained in the ‘bearish’ zone.

Binance Coin (BNB) rose 4.1% to around $644 while Cardano (ADA) rose 4% to around $0.26. Ripple’s native token XRP (XRP) rose nearly 3% to $1.29.

Tron (TRX) was the only cryptocurrency in the red over the past 24 hours among the top 10 by market capitalization. TRX’s price dipped 1.3% to around $0.28, with retail sentiment on Stocktwits trending in ‘bearish’ territory over the past day.
source: https://www.tradingview.com/news/stocktwits:1f24595a4094b:0/