Analysis: Bitcoin's rise has driven the overall strength of the crypto market, and Iran's ceasefire expectations are fueling risk-on sentiment.

ME News Report, April 6 (UTC+8), with market risk appetite rebounding on expectations of a potential ceasefire agreement between the US and Iran. It is reported that the ceasefire plan may take effect on Monday and promote the reopening of the Strait of Hormuz. Bitcoin’s rise has driven the overall cryptocurrency market to strengthen, with mainstream assets such as Ethereum and Solana rising in tandem. The derivatives market also signals a bullish outlook, with Bitcoin futures structure improving, 30-day implied volatility continuing to decline, and Nasdaq 100 futures rising 0.8%, reinforcing a risk-on sentiment. However, analysis indicates that market rebound still carries uncertainties. Recent ceasefire news has been denied or disproved by Iran multiple times; if similar situations occur again, the market could quickly reverse. Additionally, even if an agreement is reached, its binding effect on Israel remains doubtful, potentially limiting the sustainability of risk appetite. Overall, while Bitcoin has upward potential, macro variables remain a key obstacle. (Source: ChainCatcher)