Algorand, Stable and Morpho led a surge in altcoins as Bitcoin climbed to an intraday high of $69,135, triggering more than $326 million in liquidations across crypto markets.
The rally pushed total market capitalisation up 2.7% to $2.44 trillion, with Algorand rising 23%, Stable gaining 17% and Morpho adding 13% over 24 hours.
“What we’re seeing at the start of April isn’t really a repeatable calendar rally, but more a positioning reset,”
Said SynFutures CEO Wenny Cai.
The move reflects renewed risk appetite as investors rotate back into higher-beta assets following weeks of cautious sentiment and under-allocation.
Bitcoin has also rebounded, snapping a five-month losing streak and gaining 3.1% on the day, supported by easing geopolitical tensions linked to potential US de-escalation in Iran.
Following the announcement the Bitcoin price was up at $68,690.
Despite the rally, analysts warn market structure remains fragile, with ongoing geopolitical risks and volatility likely to influence near-term price action.
Prediction market data shows investors remain cautious, assigning just a 44% probability that Bitcoin will retest $84,000 in the near term.
At the time of reporting, Bitcoin price was $68,469.35.