27.07.2026 12:41
Bitcoin rose above $65,000 again after the US and Iran halted mutual fire. As the drop in oil prices boosted risk appetite, Ethereum showed stronger performance than Bitcoin, signaling a potential altcoin turnaround.
Bitcoin, the largest cryptocurrency by market value, has risen about 1.2 percent in the last 24 hours to $65,256. Ethereum gained over 3 percent, approaching $1,950. Other tokens among the top 10, including Solana and XRP, also rose between 1 and 2 percent.
On the commodity and stock market side, risk appetite also came to the fore. Futures linked to US crude oil fell about 5 percent today to around $85. While Nasdaq and S&P 500 futures rose half a percent, the Australian dollar and euro gained against the US dollar in the forex market.
CEASEFIRE ENTERS SECOND DAY
The US and Iran have created room for a diplomatic opening by halting military strikes against each other for the second consecutive day. The war, which began at the end of February, entered a fragile ceasefire in the second quarter, but this process was short-lived. According to information reported, Iran indicated that it would continue to pause attacks as long as the US stops airstrikes. This step was interpreted as a fragile start to a new peace process.
The decline in oil has somewhat eased inflation concerns. Brent crude oil fell 4.7 percent to $92.19. Investors' eyes are now on the Federal Reserve meeting on July 28-29. Markets are pricing in a 25 basis point rate hike with a 36.3 percent probability.
ANALYSTS DISCUSS POTENTIAL ALTCOIN ROTATION
Vikram Subburaj, CEO of India-based exchange Giottus, noted that prices are also reacting to macroeconomic developments. According to Subburaj, Ethereum's rise of over 3 percent indicates some rotation toward alternative cryptocurrencies. The executive added that Bitcoin's market dominance at 58.6 percent suggests this is not yet a broad-based altcoin trend.
Some observers continued to focus on Bitcoin's four-year cycles, arguing that prices may be bottoming before the next major bull run. Joao Wedson, founder and CEO of analytics firm Alphractal, stated in a social media post that the time between each Bitcoin halving and the subsequent bear market bottom is approximately 900 days. According to Wedson, the current cycle has already reached day 827. Based on this pattern, the executive said it can be suggested that Bitcoin has already formed its price bottom, with the final bottom potentially taking shape at some point in the next two months.