Crypto Market Rally: BTC, ETH, XRP, HYPE Surge 4-8% Amid US-Iran Talks

The broader crypto market index jumped by over 5% in the last 24 hours, adding over $100 billion to its market cap.

Bitcoin price surged 5% to $74,500. Top altcoins like ETH, XRP, SOL, BNB, and HYPE rose with similar gains. This rally comes amid the global market upside as the US and Iran approach a permanent deal.

Crypto Market Adds $100 Billion in 24-Hours

Crypto market is seeing a strong upside over the positive peace talks in the ongoing US-Iran war. Per the Coinglass data, the crypto market liquidations have topped over $500 million, with short liquidations surging to $430 million.

The rally comes following the global market upside. In a sharp market reversal, the S&P 500 closed higher by 1% on April 13. It also clocked the highest closing since the start of the US-Iran war.

The rally comes amid improving investor sentiment despite ongoing geopolitical tensions. Recent gains pushed the benchmark index close to its recent highs, with broad-based strength across sectors.

Since the March 30 market bottom, the S&P 500 has added more than $5 trillion in market value. It shows a strong rebound in U.S. equities after war related volatility pressured markets earlier.

Reports suggest a new round of U.S.–Iran negotiations could take place on Thursday, April 16. President Donald Trump stated that Iran had reached out to begin discussions. He added that “we’ve been called by the other side” and that “they want to work a deal.”

The potential talks come amid escalating geopolitical tensions and ongoing diplomatic efforts to de-escalate the conflict. Earlier discussions reportedly showed some progress, raising cautious optimism about a possible agreement between the two sides.

Crypto Market Upside: ETH, XRP, HYPE Join the Party

Today’s crypto market upside comes along with a strong rally in the altcoin space. Ethereum (ETH) price is up 9%, moving closer to $2,400, while XRP, BNB, and SOL have gained 3-5% each.

Santiment reported a rise in large Ethereum wallets. The number holding at least 100,000 ETH grew from 54 to 57 in the past week. This signals growing confidence among major holders. This shows a surge in ETH accumulation among large holders.

Historically, an increase in high-value wallets has shown a correlation with price strength. This growth in large Ethereum holders suggests continued support for the second largest cryptocurrency by market capitalization.

Bitcoin Price Gains 16% After US-Iran War Started

Bitcoin price surged above $74,000 level, adding approximately $55 billion to its market capitalization in a single day. It has now gained about 16% since the start of the US Iran conflict. It has also outperformed major global indices and traditional asset classes during the same period.

Meanwhile, BlackRock continued to increase exposure through its iShares Bitcoin Trust. The firm recorded $612.1 million in Bitcoin purchases over the past week. The inflows outpaced all competing Bitcoin ETFs during the five day period.

The renewed institutional buying alongside Bitcoin’s move back above $74,000 suggests investors are steadily increasing exposure.