Major cryptocurrencies trended upward on Tuesday as Ethereum reached an intraday high of $1,950, while XRP and Dogecoin also saw gains.
The surge followed reports that over $200 million was liquidated from the cryptocurrency market within the last 24 hours. This included the erasure of $160 million in bearish short positions.
The global cryptocurrency market capitalization reached $2.27 trillion, reflecting a 1.28% increase over the previous 24-hour period.
Stock Market Rebounds
Equities experienced a sharp rally on Tuesday. The Dow Jones Industrial Average jumped 385.38 points, or 0.74%, to finish at 52,224.64. The S&P 500 rose 0.89% to close at 7,509.20, and the tech-heavy Nasdaq Composite climbed 1.29% to end at 25,837.21.
Meanwhile, U.S. forces conducted their eleventh straight day of strikes against Iranian military assets, while confirming that the Strait of Hormuz remains accessible for commercial shipping.
