Crypto Market Surges 4.26% as Bitcoin Hits $105,000 on Ceasefire News

The crypto market has shown a strong recovery over the past day, with Bitcoin, Ethereum, and several altcoins displaying renewed strength. The overall crypto market capitalization has risen to $3.26 trillion, marking a 4.26% increase in the last 24 hours. This surge comes after a period of decline triggered by geopolitical tensions, particularly a report of a U.S. attack on Iranian nuclear sites, which led investors to adopt a risk-off stance and sell off their crypto holdings.

The turning point for the market came with the announcement of a ceasefire agreement between Israel and Iran by Donald Trump, effectively ending what was referred to as the “12 Day War.” This news sent Bitcoin soaring past $105,000, lifting other cryptocurrencies such as SEI, which became one of the top performers of the day. The easing of global tensions has shifted market sentiment, with traders returning to a risk-on mode and altcoins regaining their appeal.

Analysts are closely monitoring Bitcoin's price movements to determine if the current bounce has more room to run or if it will stall under key resistance levels. On the 4-hour chart, Crypto Patel noted that Bitcoin needs to break above $108,900 to shift the structure on lower timeframes. The higher timeframe resistance sits at $110,654. Until these levels are cleared, the trend remains vulnerable. Bitcoin recently bounced from a higher low around $98,500 and reclaimed the 0.618 Fibonacci level, but it is now testing the $106,800–$108,000 resistance zone, an area where sellers previously stepped in.

Crypto Patel also pointed out that smart money is likely shorting between $107,000 and $109,000. If Bitcoin clears $110,000, it could signal a true trend reversal. If not, traders may look for another pullback toward the $100,000–$101,000 zone. The total crypto market capitalization has seen a substantial increase of $142 billion within the last 24 hours, now standing at $3.26 trillion. The market is just under the $3.30 trillion resistance level after nearly breaching it, signaling the potential for further upward movement if the momentum continues.

SEI, one of the best-performing altcoins today, surged more than 35% to trade around $0.271. Analyst Crypto Yoddha posted a 3-day chart showing SEI price breaking out of a symmetrical triangle pattern, a structure that has been forming since March. The breakout aligns with bullish on-chain activity, with SEI now having 8.1 million active addresses, $10 million in daily inflows, and a total value locked (TVL) of $525 million. The project is ranked in the top 55 and is gaining traction thanks to its AI and gaming ecosystem.

If SEI price can hold above the $0.26–$0.27 zone, the next technical target is in the $0.70–$0.80 range. That would mark a return to resistance levels from mid-2024. However, traders remain cautious despite today’s bounce. Bitcoin price needs to break $110,000 for confirmation, and the total market capitalization must clear $1.14 trillion. If those levels hold as resistance, the rally could lose momentum. For now, easing global tensions and improving altcoin strength have given crypto a strong push, and traders are watching to see if this momentum can hold.