The cryptocurrency market experienced a significant rally on June 24, 2025, driven primarily by a de-escalation in Middle Eastern geopolitical tensions. Following announcements of a ceasefire between Israel and Iran, which reduced fears of prolonged conflict and associated oil supply disruptions, the market capitalization of cryptocurrencies increased markedly. Nearly 98 of the top 100 cryptocurrencies saw price appreciations in the past 24 hours, with major assets like Bitcoin (BTC) and Ethereum (ETH) leading the charge.
Bitcoin (BTC) rose approximately 3.5%, trading near $105,471 after rebounding from previous lows around $100,183. Ethereum (ETH) surged 7.5% to trade around $2,422. XRP notably gained 8.1%, and other altcoins such as Solana (SOL) and Dogecoin (DOGE) also recorded double-digit percentage increases. The total crypto market capitalization increased by roughly 2.9% to $3.23 trillion, with the total 24-hour trading volume reaching approximately $150 billion.
Market sentiment shifted from fear to neutrality, as reflected in the Fear and Greed Index moving from 37 to 47. Institutional confidence is also strengthening with major inflows into US BTC and ETH exchange-traded funds (ETFs), with BlackRock and Fidelity among the top contributors. Furthermore, Anthony Pompliano announced a $1 billion merger to create ProCap Financial, a Bitcoin-native firm aiming for a Nasdaq listing, highlighting growing institutional engagement.
Short liquidations worth hundreds of millions fueled the price rally, identifying a notable short squeeze that helped amplify gains. Technical analysis indicates a bullish pattern forming in the total crypto market capitalization chart, suggesting potential for further upside to levels near $4.76 trillion. Analysts remain cautiously optimistic, acknowledging that while the current macro and geopolitical environment remains unstable, the quick market rebound and sustained accumulation by long-term holders present positive signs for the near to medium term.