Cryptocurrency Prices Flat Amid Ongoing US-Iran Tensions

Leading cryptocurrencies remained relatively flat on Sunday as tensions between the US and Iran continued to escalate. Bitcoin hovered between $64,000 and $65,000, while Ethereum stuck in the $1,800 zone. XRP and Dogecoin also moved sideways despite a surge in trading volume of 12% over the past 24 hours.

Nearly $120 million was liquidated from the cryptocurrency market in the last 24 hours, with bearish short traders taking the brunt of the losses. Bitcoin's open interest fell 0.42% over the last 24 hours, but retail and whale derivatives traders on Binance remained long on the apex cryptocurrency.

The global cryptocurrency market capitalization stood at $2.22 trillion, up 0.44% over the last 24 hours. Analyst Ali Martinez notes that reclaiming the previous cycle's all-time high of $69,000 could signal a transition from a bear market back into a sustained bull trend.