Key facts
- Bitcoin price climbed to $84,468.29, up 5.11% in 24 hours.
- Ethereum traded at $2,707.70, up 4.98% in 24 hours.
- XRP traded around $1.47, up 6.77% in 24 hours.
- The total crypto market cap reached $2.87 trillion, up 4.48% in 24 hours.
- A Houthi official stated that American ships would not be attacked in the strait, except for Saudi vessels.
The cryptocurrency market experienced a broad rally on Monday, with Bitcoin, Ethereum, and XRP extending their gains. This surge coincided with reports that U.S. President Donald Trump had decided against launching immediate strikes against Yemen's Houthi targets, easing immediate geopolitical concerns.
The overall market capitalization for cryptocurrencies rose by 4.48% in the past 24 hours to reach $2.87 trillion, according to CoinMarketCap.
Bitcoin's price climbed to $84,468.29, marking a 5.11% increase over the last 24 hours and an 8.65% rise over seven days. The digital asset held a market cap of approximately $1.68 trillion with a daily trading volume of $29.02 billion.
Ethereum also saw appreciation, trading at $2,707.70, up 4.98% in the last 24 hours and 7.68% over the past week. Its market capitalization stood at $329.49 billion with a daily volume of $15.92 billion.
XRP experienced a notable daily increase, trading at around $1.47, up 6.77% in 24 hours and 6.64% over seven days. XRP's total market valuation reached $92.73 billion, with a trading volume of $3.77 billion.
Mohamed al-Bukhaiti, a member of the Houthi political bureau, stated that Washington had contacted the group following its actions near the Bab el-Mandeb Strait. He affirmed that American ships would not be targeted in the strait, with the exception of Saudi vessels. Al-Bukhaiti also indicated that the Houthis would continue to attack Saudi Arabia until Riyadh lifts its blockade on Houthi-controlled areas and allows ships to enter Red Sea ports under their control.