- Cryptocurrency Today: Bitcoin and Ethereum and XRP Recover After Ceasefire in the US-Iran War:

Cryptocurrency prices generally stabilized on Wednesday after U.S. President Donald Trump wrote on his social platform “Truth Social”: “I approve a suspension of Iran’s bombing and attacks for two weeks.”

Bitcoin (BTC) held its price above $71,000, after it recorded the previous day’s low of $67,732, while Ethereum (ETH) rose slightly above $2,250. At the same time, Ripple (XRP) recovered to trade above $1.37, supported by market optimism generated by the ceasefire.

- Bitcoin, Ethereum, and Ripple bounce back after Iran agrees to reopen the Strait of Hormuz:
On Tuesday, U.S. President Trump announced a suspension of attacks on Iran. The ceasefire requires keeping the Strait of Hormuz open for Iran. Global markets had experienced tension earlier, after Trump warned that “an entire civilization will collapse tonight” if Iran fails to reach an agreement before the deadline.

The Middle Eastern country reiterated Trump’s ceasefire announcement, saying it would allow safe maritime passage through the Strait of Hormuz for two weeks. Iranian Foreign Minister Abbas Araqchi added that the regime will stop military strikes unless it is attacked.

Iran closed the Strait of Hormuz, cutting off 20% of global oil and gas supplies during the war that began in late February. Crude oil prices in West Texas Intermediate rose to more than $100, triggering shockwaves in markets and forcing central banks to reconsider their monetary policies.

The ceasefire could help ease tensions in the markets and possibly reduce overall macroeconomic uncertainty. The cryptocurrency market is showing signs of risk appetite returning, supported by the Fear and Greed Index rising to 17 points—an indication of extreme fear—on Wednesday, after it was 11 points the previous day.

Fear and Greed Index | Source: Badil

- Today’s Chart: Bitcoin Looks for Higher Support:
Bitcoin’s price is consolidating above $71,000, with a slight bullish bias in the near term. The price remains stable above the 50-day Exponential Moving Average near $70,500, confirming a broader uptrend. Momentum, as measured by the (MACD) (Moving Average Convergence Divergence), has returned to positive territory: the indicator is above the signal line, and the histogram is expanding on the daily chart. This view reflects rising upward pressure, while the Relative Strength Index (RSI) remains stable in the 50s on the same chart, confirming a positive setup but not in the overbought zone.

The daily chart of the BTC/USDT pair

Initial resistance is seen near the most recent high around $71,900, with a decisive breakout opening the way toward the horizontal resistance level at $72,271. After surpassing these barriers, the focus will shift to the 100-day Exponential Moving Average at $75,612 and the psychological zone around $76,000 as the next bullish targets.

On the downside, immediate support is observed at the 50-day Exponential Moving Average around $70,500, with a daily close below it exposing the $68,800–$68,300 range defined by the lowest points of the most recent pullbacks. Losing this range would weaken the current uptrend and make the mid-range of $66,000 represent deeper support within the broader uptrend structure.
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