The 2-week ceasefire between the US and Iran has sparked a rally in the crypto market, with Bitcoin surging past $72,000 and Ethereum gaining around 6% to reach $2,250. The total cryptocurrency market capitalization has climbed to $2.53 trillion, reflecting a 4% increase in 24 hours. This move is seen as a risk-on pivot, with investors betting on reduced geopolitical tensions and improved global economic prospects. The ceasefire news has also led to a drop in oil prices, which could alleviate inflationary pressures. However, some analysts caution that the gains might be short-term, as the market remains rangebound and sensitive to further developments. The crypto market's reaction is also influenced by factors like inflation expectations, Fed policy, and AI-driven growths.

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