Bitcoin rose 2.6% over the past 24 hours to $80,150 as of 11:40 p.m. ET Sunday, moving above a resistance zone that had constrained trading over the weekend. Ether gained 3.6% to $2,382, while XRP advanced 2% to $1.41.<\/p>\n
\u201cBitcoin's surge past $80,000 breaks through a resistance zone that limited price action over the weekend,\u201d Nick Ruck, director of LVRG Research, told The Block. \u201cThe quick shift places near-term momentum firmly as bullish and confirms buyer strength after the earlier pullback.\u201d<\/p>\n
Dominick John, an analyst at Zeus Research, said markets are witnessing a technical short squeeze as the price moves through what he described as a \u201cmajor\u201d psychological resistance zone. The overall price action reflects a broader rally across leading digital assets.<\/p>\n
The latest crypto market moves are unfolding against a backdrop of persistent tensions between the U.S. and Iran. In a Truth Social post on Sunday, U.S. President Donald Trump announced \u201cProject Freedom,\u201d an initiative he said would \u201cfree\u201d stranded cargo ships affected by the closure of the Strait of Hormuz. He stated that the U.S. would guide stranded ships out of the strait \u201cso that they can freely and ably get on with their business,\u201d with the initiative set to begin Monday morning.<\/p>\n
Ebrahim Azizi, a senior Iranian official, warned that any U.S. interference in the Strait of Hormuz would be considered a violation of the ceasefire. At the same time, Trump said his representatives \u201care having very positive discussions\u201d with Iran, which he indicated could \u201clead to something very positive for all.\u201d<\/p>\n
In commodities markets, international benchmark Brent crude futures rose 0.26% to $108.49 per barrel, while WTI Crude edged down 0.12% to $101.84.<\/p>\n
Meanwhile, U.S. spot bitcoin exchange-traded funds recorded a fifth consecutive week of inflows, totaling $153.87 million last week. \u201cSustained five-week inflows into U.S. spot bitcoin ETFs highlight growing institutional support and confidence in bitcoin as a strategic asset in portfolios,\u201d Ruck said.<\/p>\n
What was bitcoin\u2019s price level late Sunday?<\/strong> How did other major cryptocurrencies perform?<\/strong> What is \u201cProject Freedom\u201d?<\/strong> How much money flowed into U.S. spot bitcoin ETFs last week?<\/strong>
Bitcoin traded at $80,150 as of 11:40 p.m. ET Sunday, up 2.6% over the previous 24 hours.<\/p>\n
Ether rose 3.6% to $2,382, and XRP gained 2% to $1.41 over the same 24-hour period.<\/p>\n
\u201cProject Freedom\u201d is an initiative announced by U.S. President Donald Trump to guide stranded cargo ships out of the Strait of Hormuz following its closure, with operations scheduled to begin Monday morning.<\/p>\n
U.S. spot bitcoin ETFs saw inflows of $153.87 million last week, marking a fifth straight week of net inflows.<\/p>\n