Bitcoin, Ethereum, XRP, Dogecoin Remain Stable as Iran Ceasefire is Prolonged
April 23, 2026
Cryptocurrencies such as Bitcoin, Ethereum, XRP, and Dogecoin remained stable in the market, with President Donald Trump extending the ceasefire with Iran indefinitely. Bitcoin was trading between $74,800 and $76,800, accompanied by low trading volume. Similarly, Ethereum stayed around the $2,300 mark, while XRP and Dogecoin observed limited activity.
On the stock market front, Strategy Inc.(NASDAQ:MSTR) and Coinbase Global Inc.(NASDAQ:COIN) witnessed a decline of 4% and 7.41%, respectively. Approximately $270 million was liquidated within a day, with equal amounts for long and short positions. Bitcoin shorts worth $600 million were in danger of liquidation if the cryptocurrency reclaimed $80,000.
The global cryptocurrency market’s capitalization stood at $2.56 trillion, reflecting a slight 0.26% increase in the last 24 hours. Some top gainers in the market included RaveDAO (RAVE), Meteora (MET), and MemeCore (M), experiencing growth ranging from 22.93% to 35.62%.
Bitcoin futures interest decreased by 0.05% in the past 24 hours, with a higher number of short positions compared to long positions on Binance, hinting at bearish sentiment among traders. Looking at stock futures, the Dow Jones Industrial Average Futures rose 0.46%, S&P 500 futures climbed 0.53%, and Nasdaq 100 Futures gained 0.67% following Trump’s ceasefire extension with Iran.
Market analysts predicted that Bitcoin might reach its bear market bottom in around three months based on historical data suggesting new lows forming in the second and third quarters after 200 days from cycle tops. Noteworthy cryptocurrency analysts Killa and Michaël van de Poppe shared their insights on Bitcoin’s recent performance.
Killa mentioned that Bitcoin has been in a bear market for 212 days, indicating a probable timeline for establishing its bear market bottom. Meanwhile, Michaël van de Poppe pointed out that Bitcoin’s recent correction did not significantly impact its underlying momentum or technical structure, attributing it to the nuanced interactions between Trump and Iran, deemed as strategic moves rather than market-altering developments.
Overall, the cryptocurrency market displayed stability amidst geopolitical events like the ceasefire extension with Iran, with Bitcoin potentially on track to establish its bear market bottom within the next few months based on historical trends and current market conditions.
