Bitcoin traded above $71,000 on Tuesday, briefly surpassing $71,500 before moderating to around $71,300. The move came as risk appetite improved across global markets, with XRP, Dogecoin, SUI, and Hyperliquid’s HYPE leading gains among top tokens.
The broader crypto market tracked the upside, with the CoinDesk 20 index rising as major assets rallied. Analysts attribute the momentum in part to expectations that oil supply concerns may ease after the IEA plans an extraordinary meeting to discuss potential emergency oil stock releases, signaling a softer near-term supply backdrop.
Bitcoin has shown signs of decoupling from software and tech stocks, suggesting a more resilient stance amid ongoing macro volatility. Over the past 24 hours, Bitcoin gained roughly 3.2%, and intraday leadership was led by XRP, DOGE, SUI, and HYPE as the market digested the latest developments.
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