Why did the cryptocurrency market rise today? Bitcoin and Ethereum lead the increase, boosted by changes in the Middle East situation.

Gate News message, March 30, 2026, the global cryptocurrency market saw a rebound, with the total market cap rising to about $2.4 trillion, up roughly 1.2%. Bitcoin rose 1.4%, reclaiming above $67,600; it had previously dipped to a four-week low of $65,000. Ethereum rose 2.2%, breaking above the $2,000 mark. Other major cryptocurrencies such as XRP, Solana, and Dogecoin also recorded gains of 1% to 2%.

Market sentiment improved mainly due to expectations of easing geopolitical tensions in the Middle East. According to reports, Pakistan is preparing for peace talks between the U.S. and Iran, and both sides’ diplomats have agreed to meet, aiming to ease the conflict that has continued for a fifth week. The talks chaired by Pakistan’s Foreign Minister Ishaq Dar, along with Iran’s move to allow Pakistani merchant vessels to pass through the Strait of Hormuz, gave investors short-term confidence. Meanwhile, U.S. President Trump instructed the Pentagon to pause airstrikes on Iran’s energy facilities to support the negotiation process.

Despite a clear rebound in the spot market, volatility remains high in the crypto derivatives market. According to Coinglass data, about $350 million in long positions were liquidated over the past 24 hours. The Crypto Fear and Greed Index rose by 4 points to 27, indicating that the market still has destabilizing factors.

Traditional safe-haven assets also moved higher. Gold rose 1.1% to $4,544 per ounce, and silver rose 1.5%. Oil prices rebounded to above $100 per barrel; WTI crude was at $100.7, and Brent crude rose to $115. This could intensify inflation expectations, which in turn may affect the Federal Reserve’s rate decision. Currently, the market broadly expects the Federal Reserve to keep interest rates between 3.5% and 3.75%, with a probability as high as 96.4%.

Overall, the cooling of geopolitical risks brings short-term relief, but energy prices and the high-interest-rate environment still weigh on market sentiment. Investors should watch short-term volatility in Bitcoin, Ethereum, and Dogecoin, as well as derivatives-related risks.