Amid a temporary easing of tensions between the US and Iran, the crypto market is shedding its short-term correction and regaining upward momentum. As of this morning on the 22nd, major domestic exchange Upbit showed strong trading activity for Bitcoin at a price slightly higher than the previous day at 112.54 million won. On the global Binance platform, trading is also brisk with prices up about 0.2% at around $758,570, while major altcoins such as Ethereum and XRP also posted gains of 0.45% and 0.13% respectively, indicating a general recovery in the digital asset market.
This positive trend is interpreted as proof of the market's resilience despite a recent large-scale liquidation event. According to CoinGlass data, about $96.45 million worth of positions were liquidated over the past 24 hours, of which approximately 55% were short positions. Despite liquidations totaling about $251.67 million in the overall digital asset market, prices immediately rebounded after falling, suggesting that investor sentiment is stabilizing quickly.
In terms of international geopolitics, there are signs that the second round of US-Iran ceasefire negotiations may collapse, creating geopolitical risk factors. Iran has taken an official stance against dispatching its negotiation team to Pakistan, and the US side has canceled the planned visit of Vice President JD Vance to Pakistan, significantly weakening the momentum of negotiations. US President Donald Trump assessed on Truth Social that the Iranian regime is in a serious state of internal division and stated that he will maintain the ceasefire extension until the leadership forms a unified stance or until the discussions conclude.
While Iran agrees to the extension of the ceasefire, it maintains a tough stance that the war is not over. Through state-owned TV, it emphasized that while agreement was reached on halting military clashes, it secured control over the Strait of Hormuz as a key card on the negotiation table and intends to actively leverage it in future talks. It also warned that caution is needed regarding threats of retaliation if negotiations are not attended, and clearly stated that it can only engage in talks within the scope that does not infringe upon its sovereignty and dignity after the lifting of the naval blockade. Furthermore, it reiterated that defensive and missile capabilities, as well as nuclear technology, are not subject to negotiation but are areas of top-priority protection.
The Alternative.me Fear and Greed Index, which comprehensively reflects investor sentiment in the digital asset market, rose to 33 today, recording an increase from the previous day. The index, where a value close to 0 indicates strong selling pressure and a value close to 100 indicates strong buying tendency, shows that the market is moving away from fear, surpassing a neutral level, and cautiously seeking recovery.