The US-Iran war continues to influence Bitcoin, Ethereum and Dogecoin prices with high volatility. However, risk-on sentiment also appears to be returning, with the number of open trades rising as BTC hits a recent multi-month high.
How the US-Iran war affects the prices of Bitcoin, Ethereum and Dogecoin
In Post Xcryptocurrency analyst Michaël van de Poppe noted that the US-Iran war continues to fuel market volatility. He then noted that there will be no path forward where Bitcoin, Ethereum and Dogecoin prices will do well if this consensus continues to prevail. But he added that the U.S. economy is “weak enough” and that the Fed has no choice but to start printing money again, which is positive for these risky assets.
Bitcoin, Ethereum and Dogecoin prices have held steady so far during the US-Iran war, with BTC yesterday hitting a multi-month high of $76,000. This comes as market participants continue to price in an imminent end to the war despite the instability of the situation two-week ceasefire. President of the USA Donald Trump recently mentioned this that another round of peace talks could take place in the next two days, which also sparked bullish sentiment.
Interestingly, risk sentiment has increased due to the US-Iran war, which is also contributing to the raise in the prices of Bitcoin, Ethereum and Dogecoin. On-chain analytics platform Santiment noted that the rise of BTC and ETH to their highest levels since early February is more confident as margin and leveraged positions are being created quickly.
Santiment revealed that open interest in Bitcoin increased by 59% in seven weeks, while interest in Ethereum increased by 45% in the same period. The platform noted that this reflects growing investor confidence, but also introduces greater risk as crowded leveraged trades can quickly composed down. They added that when the number of open positions increases with prices, markets often become more volatile and a sudden collapse in either direction is more likely.
Analyst warns that BTC has not bottomed yet
Cryptocurrency analyst Colin warned that a bear market is unlikely to occur despite the rebound in Bitcoin, Ethereum and Dogecoin prices during the US-Iran war. He noted that the February low of $60,000 for BTC came only four months into the typical 12-month cycle, which is why he believes the $60,000 price level is not bear market bottom.
The analyst admitted that this time the bear market may be shorter, but not by 2/3 of the normal bear cycle. He also noted that Bitcoin’s price has fallen from its level so far Summit in October 2025 is only 53% compared to 77% of accidents recorded in previous cycles. As such, Colin stated, “It is statistically unlikely that $60,000 would be the low.”
Featured image from Pixabay, chart from Tradingview.com
