The War between the US and Iran continues to influence the prices of Bitcoin, Ethereum and Dogecoin, with high volatility. However, the sense of risk also appears to be returning, with open interest rising as BTC rises to a new multi-month high.
How the US-Iran War Affects Bitcoin, Ethereum, and Dogecoin Prices
In one X messagecrypto analyst Michaël van de Poppe noted that the war between the US and Iran continues to drive market volatility. He further noted that there will be no path forward where Bitcoin, Ethereum and… Dogecoin Prices will do well if this remains the consensus. However, he added that the US economy is “sufficiently weak” and the Fed has no choice but to start printing money again, which is positive for these risky assets.
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Bitcoin, Ethereum and Dogecoin prices have held up so far during the US-Iran war, with BTC hitting a multi-month high of $76,000 yesterday. This is because market participants continue to price in an impending end to the war despite the fragile circumstances two-week ceasefire. American president Donald Trump said it recently that a new round of peace talks could take place within the next two days, which has also led to bullish sentiments.
Interestingly, the sense of risk has increased during the US-Iran war, which also contributes to the rise in the prices of Bitcoin, Ethereum and Dogecoin. On-chain analytics platform Santiment noted that BTC and ETH’s rally to their highest levels since early February comes with increased optimism as margin and leverage positions are quickly created.
Santiment revealed that Bitcoin’s open interest has risen 59% in seven weeks, while Ethereum’s has risen 45% over the same period. The platform noted that this reflects traders’ growing conviction, but also comes with higher risk as busy leveraged trades can quickly settle down. They added that when open interest rises along with prices, markets often become more volatile, with sudden price drops in either direction being more likely.
Analyst Warns BTC Has Yet to Form a Bottom
Crypto analyst Colin warned that a bear market bottom is unlikely to have formed despite the recovery of Bitcoin, Ethereum and Dogecoin prices during the US-Iran war. He noted that the $60,000 bottom for BTC in February was just four months into a typical twelve-month cycle. Therefore, he believes that the $60,000 price point is not the same. the bear market bottom.
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The analyst acknowledged that the bear market could be shorter this time, but not by 2/3 of the normal bear cycle. He also noted that Bitcoin’s decline has not yet been achieved so far Peak of October 2025 amounts to only 53%, compared to the 77% accidents recorded in previous cycles. In line with this, Colin said: “It is *statistically unlikely* that the $60,000 bottom will be the bottom.”
Featured image from Pixabay, chart from Tradingview.com