Ether Outperforms as Bitcoin Tops $75,000 – Crypto News – Crypto News
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Ether Outperforms as Bitcoin Tops $75,000 Ether Outperforms as Bitcoin Tops $75,000

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Ether Outperforms as Bitcoin Tops $75,000 – Crypto News

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3 months ago

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Crypto markets staged a broad Tuesday rally, fueled by over $500M in short liquidations.

Bitcoin pushed to its highest level in a month on Tuesday as risk appetite returned to crypto markets after President Trump signaled his openness to renewed talks with Tehran even as the U.S. blockade of the Strait of Hormuz remains in place.

The largest cryptocurrency by market capitalization is trading at $75,420, up 5% over the past 24 hours and 10.5% on the week. Ethereum (ETH) is the standout among majors, gaining more than 7% to $2,360, up 14% on the week.

Total crypto market capitalization rose to $2.63 trillion, with Bitcoin dominance hovering near 60%.

ETH Chart

Shorts Routed

Data from CoinGlass shows that more than $525 million of leveraged short positions were liquidated in the past 24 hours, and roughly $200 million more would be liquidated if BTC pushes above $75,500, a dynamic that could add fuel to the rally.

Bitcoin accounted for $282 million in total liquidations, and Ether followed at $187 million.

Macro Backdrop

The S&P 500 has now erased all losses triggered by the Iran conflict. Brent crude fell below $100 as markets priced in the possibility of fresh talks before the April 7 ceasefire expires next week.

Markets continue to price in a near-certainty that the Federal Reserve will hold rates steady at its April 28-29 meeting. The Fed Funds rate sits at 3.5% to 3.75%, with one quarter-point cut penciled in for 2026.

Altcoin Movers

Solana’s SOL climbed 4% to $86, up 9.3% for the week. BNB gained 3.3% to $625, XRP rose 3.6% to $1.38, and Dogecoin added 5%. Every non-stable asset in the top 10 is green on both the daily and weekly timeframes.

Meanwhile, Bittensor (TAO) is today’s only loser in the Top 100 as it continues to grapple with the exit of one of its most prominent subnet projects.

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