--- title: "Bitcoin, Ethereum, XRP, Dogecoin Stall Over Iran Ceasefire Uncertainty: Analyst Suggests BTC Buyers Could Be Taking 'Control'" type: "News" locale: "en" url: "https://longbridge.com/en/news/288005570.md" description: "Leading cryptocurrencies, including Bitcoin and Ethereum, experienced stagnation amid reports of a ceasefire between the U.S. and Iran. Bitcoin fell to a six-week low before recovering slightly, while Ethereum dipped below $2,000. The global cryptocurrency market cap decreased by 0.80% to $2.47 trillion. Analysts suggest Bitcoin's current level is pivotal for a potential uptrend, while cautioning against shorting Ethereum at this time." datetime: "2026-05-29T01:54:55.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288005570.md) - [en](https://longbridge.com/en/news/288005570.md) - [zh-HK](https://longbridge.com/zh-HK/news/288005570.md) generator: "portal-rs" --- # Bitcoin, Ethereum, XRP, Dogecoin Stall Over Iran Ceasefire Uncertainty: Analyst Suggests BTC Buyers Could Be Taking 'Control' Leading cryptocurrencies diverged from the stock market on Thursday, even as investors dissected reports of a ceasefire between the U.S. and Iran. | **Cryptocurrency** | **24-Hour Gains +/-** | **Price (Recorded at 9:15 p.m. EDT)** | | ------------------------------------ | --------------------- | ------------------------------------- | | **Bitcoin** (CRYPTO: BTC) | -0.91% | $73,708.31 | | **Ethereum** (CRYPTO: ETH) | -0.61% | $2,011.14 | | **XRP** (CRYPTO: XRP)             | +0.57% | $1.31 | | **Solana** (CRYPTO: SOL)             | -0.29% | $82.27 | | **Dogecoin** (CRYPTO: DOGE)    | -0.50% | $0.09985 | ## **Crypto Market Stagnates** **Bitcoin** hit a six-week low, sliding to $72,500 before bouncing back above $73,000 by evening. Trading volume jumped 17% in the last 24 hours. **Ethereum** dived below $2,000 in the early trading hours before rebounding later in the day as selling pressure remained high. Cryptocurrency-related stocks rose, with **Coinbase Global Inc.** (NASDAQ:COIN) and **Bitmine Immersion Technologies Inc.** (NYSE:BMNR) closing up 4.87% and 2.28%, respectively. Over $600 million in bullish long positions was wiped out from the cryptocurrency market in the past 24 hours, according to Coinglass data. Bitcoin's open interest rose 0.87% over the last 24 hours. An increase in open interest alongside a drop in spot price typically signals a short build-up, meaning traders are actively entering new short positions. **Top Gainers (24 Hours)**  **Cryptocurrency (Market Cap>$100 M)** **Gains +/-** **Price (Recorded at 9:15 p.m. EDT)** **Basic Attention Token** (BAT)       +14.25%     $0.1140 **Stellar** (XLM)     +13.24%     $1.21 **DeFi App** (HOME)          +12.92%     $0.02754 The global cryptocurrency market capitalization stood at $2.47 trillion, following a dip of 0.80% over the last 24 hours. **Read Also: JPMorgan: Bitcoin, Gold ETF Outflows Mean The Debasement Trade Is Cooling** ## **Stocks** Extend Rally Stocks notched new records on Thursday. The **Dow Jones Industrial Average** gained 24.69 points, or 0.05%, to end at 50,668.97.The **S&P 500** rose 0.58% to close at 7,563.63 **,** while the tech-focused **Nasdaq Composite** lifted 0.91% to end at 26,917.47.  The rally came after U.S. and Iranian negotiators reportedly reached a tentative agreement to extend the ceasefire and begin formal talks on Tehran's nuclear program. The proposed 60-day memorandum, however, still needs a final approval by President **Donald Trump**. ## Why This BTC Level Is ‘Pivotal’ Popular cryptocurrency analyst **Rekt Capital** noted Bitcoin's correction to retest the top of the double bottom formation near $73,000 that fueled the prior rally. A double bottom pattern signals that a downtrend is likely ending and an uptrend is beginning. It resembles the letter “W” and shows buyers taking control. The analyst added that retest must hold successfully, with the weekly close relative to $73,000 serving as a "pivotal" level. Widely followed cryptocurrency analyst and trader **Ali Martinez** warned that shorting Ethereum at the current levels is a "trap" and that instead of chasing downside volatility, they are using any "weakness" to hoard more ETH. "Rather than risking capital trying to perfectly time a short into a historic value zone, my approach is to remain patient with the long term thesis and gradually accumulate through," Martinez added. **Read Also: Ethereum Co-Founder Vitalik Buterin Backs 'Formal Verification' To Harden Crypto Against AI Threats** *Photo Courtesy: Marc Bruxelle on Shutterstock.com* ### Related Stocks - [HOOD.US](https://longbridge.com/en/quote/HOOD.US.md) - [ABTC.US](https://longbridge.com/en/quote/ABTC.US.md) - [BMNR.US](https://longbridge.com/en/quote/BMNR.US.md) - [BITI.US](https://longbridge.com/en/quote/BITI.US.md) - [CLSK.US](https://longbridge.com/en/quote/CLSK.US.md) - [BITF.US](https://longbridge.com/en/quote/BITF.US.md) - [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md) - [MARA.US](https://longbridge.com/en/quote/MARA.US.md) - [CORZ.US](https://longbridge.com/en/quote/CORZ.US.md) - [GLXY.US](https://longbridge.com/en/quote/GLXY.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) - [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md) - [SQ.US](https://longbridge.com/en/quote/SQ.US.md) - [CONI.US](https://longbridge.com/en/quote/CONI.US.md) - [XDAT.US](https://longbridge.com/en/quote/XDAT.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md) - [ETHV.US](https://longbridge.com/en/quote/ETHV.US.md) - [BRRR.US](https://longbridge.com/en/quote/BRRR.US.md) - [CLOU.US](https://longbridge.com/en/quote/CLOU.US.md) - [DOJE.US](https://longbridge.com/en/quote/DOJE.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [TDOG.US](https://longbridge.com/en/quote/TDOG.US.md) - [XRPR.US](https://longbridge.com/en/quote/XRPR.US.md) - [BWOW.US](https://longbridge.com/en/quote/BWOW.US.md) - [LMBO.US](https://longbridge.com/en/quote/LMBO.US.md) - [ARKB.US](https://longbridge.com/en/quote/ARKB.US.md) - [UXRP.US](https://longbridge.com/en/quote/UXRP.US.md) - [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md) - [GSOL.US](https://longbridge.com/en/quote/GSOL.US.md) - [BITU.US](https://longbridge.com/en/quote/BITU.US.md) - [XXRP.US](https://longbridge.com/en/quote/XXRP.US.md) - [GXRP.US](https://longbridge.com/en/quote/GXRP.US.md) - [TXXD.US](https://longbridge.com/en/quote/TXXD.US.md) - [XRP.US](https://longbridge.com/en/quote/XRP.US.md) - [CONL.US](https://longbridge.com/en/quote/CONL.US.md) - [BLCN.US](https://longbridge.com/en/quote/BLCN.US.md) - [SETH.US](https://longbridge.com/en/quote/SETH.US.md) - [REKT.US](https://longbridge.com/en/quote/REKT.US.md) - [MRAL.US](https://longbridge.com/en/quote/MRAL.US.md) - [IMRA.US](https://longbridge.com/en/quote/IMRA.US.md) - [BTF.US](https://longbridge.com/en/quote/BTF.US.md) - [FBTC.US](https://longbridge.com/en/quote/FBTC.US.md) - [EZET.US](https://longbridge.com/en/quote/EZET.US.md) - [LEGR.US](https://longbridge.com/en/quote/LEGR.US.md) - [DAT.US](https://longbridge.com/en/quote/DAT.US.md) - [ETH.US](https://longbridge.com/en/quote/ETH.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [BMNRD.US](https://longbridge.com/en/quote/BMNRD.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) ## Related News & Research - [Hackers Withdraw $300,000,000 in Bitcoin From Liquid Network, Claim Attack Is Friendly](https://longbridge.com/en/news/298206847.md) - [Germany To Tax Bitcoin Like Stocks](https://longbridge.com/en/news/298469602.md) - [Symbiosis says it recovered 15 BTC after Bitcoin bridge exploit, offers attacker 20% bounty](https://longbridge.com/en/news/298840279.md) - [Liquid Network restarts after $320M hack, but peg-outs remain frozen — What’s happening?](https://longbridge.com/en/news/298792008.md) - [Athlos: Founders head to Downing Street as athletics meet eyes London future](https://longbridge.com/en/news/298864345.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**