Crypto Market Soars on US-Iran Ceasefire, But Sentiment Remains Cautious

The cryptocurrency market saw a broad recovery over the past week, with its total capitalization increasing by about 8.15% to approximately $2.25 trillion as of June 16th.

This growth was primarily driven by the US-Iran ceasefire framework, which eased oil and inflation pressures on risk assets and lifted nearly every major coin.

Bitcoin (BTC) and Ethereum (ETH) rose under 5% on the week, while Solana (SOL) gained around 10%, Zcash (ZEC) nearly 13%, and Hyperliquid (HYPE) led with a 16% advance.

The Fear and Greed Index remains in 'Extreme Fear' territory at 25, indicating that despite the rally, market sentiment has not yet caught up.