"Stop the War, Altcoins Soar"...XRP and Dogecoin Explode with Surges

▲ XRP, Dogecoin (DOGE)/ChatGPT generated image

While Bitcoin (BTC) and Ethereum (ETH) consolidate, altcoins alone surged, indicating a divergence in market capital flow.

According to crypto-specialized media Benzinga on April 17 (local time), the global virtual asset market capitalization recorded approximately $2.52 trillion, rising by 0.82% over 24 hours. Bitcoin and Ethereum moved without clear direction, trading between the mid-$73,000s and $75,000, and around $2,300, respectively.

On the other hand, XRP and Dogecoin (DOGE) showed an upward trend, clearly indicating a concentration of funds within the market. This formed a structure where supply and demand shifted to some altcoins while major coins consolidated.

Market volatility also remains high. Liquidations totaling approximately $440 million occurred in the last 24 hours, with long and short positions being cleared at nearly similar levels, leading to a directionless market. Bitcoin futures open interest also decreased by 0.70%, confirming a contraction in investor sentiment.

Geopolitical variables also influenced this market trend. U.S. President Donald Trump announced a 10-day ceasefire between Israel and Lebanon, creating expectations for short-term tension relief. Simultaneously, uncertainty related to Iran still remains, acting as a factor limiting the overall market direction.

Cryptocurrency analyst Michaël van de Poppe predicted a “positive trend is expected in Q2,” with Bitcoin potentially rising to the $85,000 to $88,000 range. The market is currently continuing a mixed trend, with both upward expectations and uncertainties at play.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*