Crypto Market Shaken Again... Is the Dawn Rebound a Signal of Recovery?

Amid escalating tensions in the Middle East, the virtual asset market saw a decline, but news of improving U.S. tech stock performance led to a partial rebound in early morning hours. On April 24, 2026, the global virtual asset market capitalization stood at $2.6 trillion, a 0.86% decrease from the previous day. Bitcoin (BTC) traded at $77,913.35, down 0.87% over 24 hours, while Ethereum (ETH) fell 3.06% to $2,324.70, Solana (SOL) dropped 1.93% to $85.72, and XRP was down 0.52% at $1.43. The market's Fear & Greed Index indicated a 'Neutral' stage at 59.

Macroeconomic risk aversion stemming from the failure of further ceasefire negotiations between the United States and Iran impacted the market. News that U.S. President Donald Trump ordered intensified blockade measures on the Strait of Hormuz, the deployment of additional U.S. Navy aircraft carriers, and the reactivation of air defense systems in Tehran, Iran, maximized geopolitical fears, leading to a surge in international oil prices and a decline in the three major New York Stock Exchange indices. Consequently, the virtual asset market synchronized with this trend, experiencing a sell-off.

After the close of regular trading on the New York Stock Exchange, Intel announced optimistic earnings forecasts. Following this, major virtual assets saw a slight rebound, with Bitcoin rising 0.20% in the past hour, Ethereum up 0.20%, and Dogecoin increasing by 0.39%.

The virtual asset market is expected to continue a sideways trend for the time being, with Middle East-related news influencing market movements. Downside volatility could increase with additional geopolitical negative events like escalation, but the market has shown a rapid recovery driven by corporate fundamentals and bottom-fishing demand. The rebound observed on the 1-hour chart indicates that the market is increasingly adept at digesting external shocks, and attention is now shifting back to intrinsic indicators such as macroeconomic fundamentals and the trend of spot fund inflows.