The crypto market rallied 1.86% to $2.63 trillion overnight, fueled by Trump's Project Freedom announcement that eased geopolitical tensions in the Strait of Hormuz. The risk-on sentiment swept through digital assets, adding $47.96 billion to total market cap since yesterday's close.
Bitcoin broke through $80,000, posting a 2.29% gain as the largest asset rode the broader market momentum. The move signals that macro tailwinds still drive crypto price action. When headlines flip from negative to positive, money flows back in immediately.
Zcash led the gainers among top-100 coins, jumping 10%. Privacy coins often spike during risk-on periods when traders rotate into alternative narratives and smaller-cap positions. The lack of immediate regulatory headwinds helps too.
The bigger picture: geopolitical de-escalation removes a major macro headwind that's weighed on risk assets all year. That alone opens space for crypto to breathe. Bitcoin holding above $80,000 matters because it establishes a new floor. If this level holds, the narrative shifts from "when will BTC collapse" to "how high does it go."
Watch whether this holds into the week. One day of green doesn't make a trend, but it does reset sentiment.