Crypto Market Rallies as Ethereum, Solana, XRP, and Dogecoin Jump on Renewed Risk Appetite

Bitcoin surged past the key $72,000 level on Thursday, marking its highest price since the market downturn on Feb. 5 and finally breaking through the stubborn $70,000 resistance that had capped gains three times over the past month. The world’s largest cryptocurrency was trading around $72,180 during Asian afternoon hours, rising 5.9% over the previous 24 hours and gaining 5.4% for the week as investors returned to risk assets.

The latest Bitcoin rally comes amid improving global market sentiment, stronger inflows into spot Bitcoin ETFs, and a broader rebound across equities. As inflation concerns eased following recent economic data, investors regained confidence in higher-risk assets, pushing both traditional markets and cryptocurrencies higher.

The upward momentum was not limited to Bitcoin. The broader crypto market also posted strong gains. Ethereum climbed 7.5% to approximately $2,114, reclaiming the critical $2,000 level for the first time since late February. Dogecoin jumped 7.5% to $0.095, while Solana advanced 5.3% to $89.91. XRP rose 4.2% to $1.41 and BNB added 3% to reach $650. WhiteBIT Coin recorded a 5.6% increase, while Tron lagged behind the rest of the market with a modest 1.4% gain.

A shift in global risk appetite played a major role in the crypto market’s recovery. Asian equity markets rebounded sharply after days of volatility tied to the ongoing Iran conflict. South Korea’s benchmark index rallied 11% after experiencing its largest single-session drop on record in the previous trading session.

U.S. markets also helped support the rebound after economic indicators suggested easing inflation pressures, although futures in both the United States and Europe showed slight weakness on Thursday morning.

Despite the ongoing geopolitical tensions, markets appear to be adjusting to the situation. Iran continues targeting Israel and Gulf states, while U.S. and Israeli forces have intensified military operations against Iranian assets. Reports confirmed the sinking of an Iranian warship in international waters as the conflict continues to unfold.

U.S. Defense Secretary Pete Hegseth indicated the military operations could last anywhere from three to eight weeks. Meanwhile, former President Donald Trump said the United States is performing well on the “war front” and receiving strong international support.

Even with the conflict unresolved, financial markets have begun moving beyond the initial shock. The situation around the Strait of Hormuz is stabilizing as the United States escorts oil tankers through the strategic waterway. Oil prices, which initially spiked earlier in the week, have since moderated.

For now, investors appear increasingly confident that the conflict will remain contained and avoid triggering a broader regional escalation. That improving outlook has helped fuel renewed momentum in Bitcoin and the wider cryptocurrency market.