The cryptocurrency market staged a broad recovery on Monday, lifted by reports that the United States and Iran had suspended mutual military strikes. Bitcoin climbed back above $65,000, touching $65,600 on Bitstamp, while the total crypto market capitalization jumped roughly $30 billion to reach $2.310 trillion on CoinGecko. Ethereum led the altcoin pack, surging 4.5% to hit $1,980 – a level not seen since early June – before settling near $1,960 at press time.
Several altcoins posted strong gains: AAVE rose 9%, ONDO added 8%, UNI gained 6.5%, LINK advanced 4.65%, and PUMP skyrocketed over 11%. The rally also boosted the NFT sector by 3%. Even as risk appetite returned, the Fear & Greed Index stayed at 39, still in ‘fear’ territory but up from recent lows, and the Altcoin Season Index held at 53.
In a separate development, veteran exchange BitMart announced it would shut down after nine years of operation. The closure sent its native BMX token crashing 58%, wiping out significant value for holders. The sudden exit adds BitMart to a growing list of smaller exchanges struggling to stay afloat in an increasingly competitive and regulatory environment.
The de‑escalation in the Middle East came after renewed Oman‑mediated talks about reopening the Strait of Hormuz, leading President Trump to halt planned military action against Iran. Markets interpreted the news as positive, and cryptocurrencies – as risk assets – reacted accordingly. During the previous volatile week, Bitcoin had bounced from under $64,000 to a monthly peak of $67,000 before pulling back, while geopolitical headlines over the weekend kept it near $64,000 until the Monday morning breakout.
Not all tokens shared in the uplift: SHIB dropped over 8% following a massive rally the previous day, while DOGE and XMR slipped 1‑3%. Investors now watch whether the calm in geopolitics can sustain Bitcoin above the $65,000 mark and whether Ethereum can maintain its two‑month high.
