Bitcoin and Ethereum prices stabilized at $66,552 and $1,998 respectively on Wednesday following a slight crypto market recovery amid rising geopolitical tensions. The total cryptocurrency market capitalization approached $2.36 trillion as consolidation continued across major digital assets.
President Trump extended his Iran deadline regarding the Strait of Hormuz by ten additional days, citing ongoing diplomatic discussions with Tehran. The extension delays potential strikes on Iranian energy infrastructure until April 6, 2026, providing temporary relief to markets. Trump indicated flexibility in his approach while emphasizing that the U.S. had already gained strategic advantages.
The wider financial market risk aversion has been driven by geopolitical tensions, with inflation concerns rising due to oil price increases and unstable labor statistics. Bitcoin rebounded above $68,000 on Tuesday following two days of market volatility, while Ethereum breached $2,000 as the broader digital asset market climbed 1.29% to $2.36 trillion in 24 hours.
Near-term outlook shows Bitcoin locked in a consolidation range between $60,000 support and $72,500 resistance. A break below $60,000 may enhance bearishness, while a consistent close over $72,500 would indicate structural recovery. If sentiment improves, long-term BTC projection could rally toward $75,000 in the near term.
