Why is the Crypto Market Rising Today? Top Factors Impacting BTC, ETH & XRP Prices 

Selling pressure across the crypto market

This is the second-largest short liquidation in the past 10 days, which has offered a strong bullish push to the BTC price and the other altcoins. With Bitcoin holding nearly half of the total short liquidations, the price is one of the best performers among the top 10 cryptos. On the other hand, BTC ETFs also experienced a $225 million inflow, compared to the ETH ETF outflows, substantiating the claims. 

Apart from the short liquidations and the ETF inflows, the macro uncertainty across the nations has played a major role in amplifying the BTC price. Due to the war in the Middle East, investors have shifted their focus to crypto, as they see Bitcoin as a hedge. The BTC price surged extensively to $74,000 while Ethereum made it close to $2,200. Interestingly, the derivatives’ positioning also changed significantly. 

• Over the past 24 hours, global crypto futures Open Interest (OI) increased by 8% to reach $103 billion. DOGE led with a rise of over 10% among the top 10 cryptos. 

• The funding rates and the CVD for the major cryptos, including BTC & ETH, are positive, which indicates a rise in the buying interest 

• The 30-day implied volatility indexes for Bitcoin and Ethereum remain stable during the conflict, indicating that there is no panic in the market.

• The BTC & ETH puts on the Deribit exchange are trading higher than the call, signaling a major drop in the bearish fears among the traders

Can the Crypto Market Sustain This Recovery?

The crypto market recovery now depends on whether Bitcoin can hold above $73,000–$72,000, which has turned into the immediate support zone after the breakout. If BTC sustains above this level, the price could extend toward $75,000–$76,500 in the short term.

Meanwhile, Ethereum is attempting to reclaim $3,900, and a confirmed close above this level could push the price toward $4,050–$4,100. XRP is trading near $0.64, with the next resistance placed around $0.68.

However, if Bitcoin slips back below $72,000, the rally may weaken, opening the door for a pullback toward $70,000. For now, the broader market remains bullish, but Bitcoin holding above $72K will be the key trigger for continuation.

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