 ▲ Bitcoin (BTC) surge / AI-generated image |
As military tensions between the United States and Iran eased, the total cryptocurrency market capitalization surged by $109 billion. Bitcoin (BTC) is once again approaching the $70,000 milestone.
According to crypto-focused media outlet BeInCrypto on March 10 (local time), TOTAL increased by $109 billion over the past 24 hours, reaching $2.36 trillion. Improved macroeconomic sentiment and renewed interest from institutional investors are strengthening upward momentum across the market. This trend supports the continued recovery of the digital asset market and reinforces the bullish scenario.
The reduction in geopolitical risk has become a decisive catalyst for restoring investor confidence. U.S. President Donald Trump declared that military operations in Iran had been fully completed, easing market concerns. Historically, the resolution of conflicts has boosted appetite for risk assets. Investor confidence revived by President Trump’s remarks is expected to accelerate TOTAL’s advance toward the $2.45 trillion resistance level. However, failure to break above $2.45 trillion could lead to a pullback to $2.31 trillion, and if the $2.22 trillion support level collapses, the current bullish outlook would be invalidated.
Bitcoin is currently trading at $69,975 and attempting to break through the psychological resistance level of $70,000. A decisive move above $70,000 could attract fresh buying interest, potentially pushing the price up to $72,294. The current price action suggests that bullish forces are consolidating strength, and increased buying pressure could trigger further technical breakouts. If Bitcoin stabilizes above $72,294, the significant target of $75,000 would come into view. Conversely, if selling pressure intensifies and pushes the price below $68,830, the decline could extend to $66,224.
In the altcoin market, Hyperliquid (HYPE) posted the most notable gains, surging 12.5% in a single day to reach $34.5. Hyperliquid is currently maintaining solid momentum above the $34.0 support level, a key technical zone that coincides with the 61.8% Fibonacci retracement level. With market interest intensifying, if Hyperliquid successfully defends the $34.0 level, an upward rally toward the next resistance at $36.2 is likely to follow.
The digital asset market now faces the challenge of absorbing profit-taking near its highest levels in four weeks. If sentiment cools rapidly and Hyperliquid fails to hold the $34.0 support level, the price could plunge to $30.8, erasing most of its recent gains. Investors are closely watching whether key support levels can be maintained as they assess the market’s direction.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.*