Leading cryptocurrencies made a comeback on Monday despite escalating hostilities in the Middle East war.

Crypto Market Rebounds

Investors bought the dip, as Bitcoin touched $70,000 and Ethereum crossed $2,000. The two blue-chip currencies recorded a sharp spike in trading volumes.

Bitcoin’s market share narrowed to 58.5%, while Ethereum’s dominance shrank to 10.4%, although the market was from an Altcoin Season, according to CoinMarketCap data.

Nearly $430 million was liquidated from the market in the last 24 hours, according to Coinglass, with over $200 million in short liquidations alone.

Another $387 million in Bitcoin shorts faces liquidation risk if the top cryptocurrency climbed…

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