The crypto market surged rapidly! Over the weekend, Iranian officials sent a peace signal to the CIA, with hopes of easing U.S.-Iran tensions. Global risk-averse sentiment has eased, oil prices retreated from the $120 high to around $101, and risk assets rebounded strongly.

Bitcoin led the charge, breaking through and holding above the 50-day moving average ($71,125) in a short period, with prices surging to a high of $73,000 - $75,000, showing a significant liquidation cascade effect. Meanwhile, spot Bitcoin ETFs continued to see net inflows of nearly $170 million, with institutions continuously increasing positions.

Additionally, the scarcity narrative of the 20 millionth Bitcoin approaching extraction, the advancement of the CLARITY Act, and reduced opportunity costs from lower FOMC rate-cut expectations are jointly driving the total market cap to surge by $2.39 trillion over 24 hours, with mainstream coins rising in sync!