Crypto: bounces above $76,000 as DeFi suffers $14 billion exodus after KelpDAO hack Bitcoin

Crypto: bounces above $76,000 as DeFi suffers $14 billion exodus after KelpDAO hack Bitcoin

Bitcoin BTC$76,109.58 held above $76,000 on Monday, rebounding from overnight lows as the broader crypto market remained steady despite Iran war risks. The largest cryptocurrency climbed about 2.4% over the past 24 hours, recovering from a dip below $74,000 earlier in the session. Ether (ETH), XRP, Solana (SOL) and other major altcoins also mirrored bitcoin's move, as the broad-market CoinDesk 20 rose 1.7%. That resilience comes against a shaky macro backdrop. U.S. President Donald Trump said Sunday that American forces had fired on and seized an Iranian-flagged cargo ship, warning of further escalation while Tehran refuses to strike a deal. A fragile ceasefire is set to expire later this week. Oil prices jumped 6% to near $90, while the S&P 500 and Nasdaq slipped modestly, down around 0.3%-0.4%. Crypto equities were mixed. Coinbase (COIN) and bitcoin treasury firm Strategy (MSTR) gained roughly 2%, while Circle (CRCL) and ether treasury Bitmine (BMNR) edged lower by 1%-2%. "The fact that prices have not fully retraced despite new tensions suggests some genuine demand," said Jasper De Maere, trader at Wintermute, pointing to recent spot ETF inflows as a supporting factor. Unlike earlier rallies this year, he said, the current move appears less driven by leverage. That said, the path forward remains tied to geopolitics. A renewed ceasefire could push bitcoin back toward $80,000, while further escalation may keep markets under pressure. For now, capital continues to concentrate in large-cap assets like bitcoin, De Maere noted, with riskier altcoins lagging, a pattern typical of market environments driven by macro headlines.

Source: CoinDesk