After one of the most bruising weeks crypto has seen all year, markets are catching their breath on Monday. Bitcoin climbed back above $63,800, gaining nearly 3% over 24 hours. Ethereum recov
After one of the most bruising weeks crypto has seen all year, markets are catching their breath on Monday. Bitcoin climbed back above $63,800, gaining nearly 3% over 24 hours. Ethereum recovered to $1,694, adding 4.22% on the day. XRP advanced 3.49% to trade around $1.17, while Solana gained 3.71% and Hyperliquid led the field with a striking 11.25% single-day move. The total crypto market cap climbed back to $2.19 trillion, up 2.41% as buyers returned across the board after days of relentless selling.
The Geopolitical Shift That Moved Everything
Reports emerging on Sunday evening of U.S.-Iran ceasefire talks and a pause in direct military operations between the two countries shifted the mood across global financial markets almost immediately.
Oil, which had been one of the primary drivers of inflationary fear and risk-off sentiment throughout the conflict, pulled back from its elevated levels. Equity futures stabilised. And crypto, which now moves with a 71% correlation to the S&P 500, followed the broader recovery in risk appetite with the kind of speed that only deeply oversold markets can produce.
Strategy Is Buying Again
Adding a layer of institutional confidence to the session, Michael Saylor announced that Strategy had acquired 1,550 Bitcoin for approximately $101 million, bringing the company’s total holdings to 845,256 BTC.
Alongside the Bitcoin purchase, Strategy also disclosed it had increased its USD reserve by $100 million to $1 billion, a move that signals the company is actively rebuilding its financial cushion rather than simply accumulating Bitcoin at any cost.
The timing of the announcement mattered. After weeks of headlines about Strategy’s first Bitcoin sale since 2022 and questions about the sustainability of its preferred stock structure, a fresh $101 million purchase sends a clear message that the accumulation strategy is intact and that the 32 Bitcoin sale last week was exactly what Saylor described it as: a minor treasury management exercise, nothing more.
BitMine Buys the Dip
Strategy was not alone in putting capital to work. Ethereum treasury firm BitMine, led by Tom Lee, disclosed a $214 million Ethereum purchase, one of its largest single acquisitions since the company began building its ETH treasury position. BitMine now controls close to 4.5% of Ethereum’s total circulating supply, a concentration that rivals and in some metrics exceeds the Ethereum Foundation’s own holdings.
What Comes Next
The immediate technical test for the broader market sits at the $2.23 trillion total market cap level, which corresponds to a key Fibonacci retracement of the recent selloff.
If buying pressure continues through the week and ETF outflows from Bitcoin products slow or reverse, the next resistance lies in the $2.34 trillion to $2.42 trillion range. On the downside, a break back below $2.1 trillion, which marked the year’s low earlier in the week, would signal that Monday’s recovery was nothing more than a brief pause in a continuing bear trend.
