President Donald Trump's recent update on the timeline for ending U.S. combat operations in the Middle East triggered a broad risk-on rotation across global markets, with cryptocurrencies surging in tandem. The total altcoin market capitalization jumped from $979 billion to $1.07 trillion within 24 hours, reclaiming the $1 trillion threshold for the first time since March 26.
Macro Tailwinds Drive Altcoin Recovery
The primary catalyst was Trump's statement signaling a potential de-escalation of Middle East hostilities, leading investors to pivot toward higher-risk assets. The altcoin sector benefited across the board, with Ethereum leading the charge. Bitcoin also ended March in the green, fluctuating between $65,926 and $68,517 before settling above $67,500. Analysts now forecast a potential trading range of $60,000 to $84,000 in the near term.
Ethereum Leads Gains Amid Bitmine Accumulation and ETF Inflows
Ethereum (ETH) rose 4% to hit a session high of $2,155, propelled by reports that Bitmine added 71,179 ETH to its treasury, combined with renewed positive flows into spot ETH exchange-traded funds (ETFs). This marked a significant reversal after a rocky first quarter: ETH had closed January and February with losses of 15% and 20%, respectively. The 30-day gain now stands at approximately 10%, pushing its market cap to $257 billion. However, the rally triggered $106 million in 24-hour liquidations across the network.
XRP Rebounds Moderately; Market Shows Sharp Divergence
XRP climbed from $1.31 to $1.36 on the Middle East news, bringing its market cap to roughly $83.4 billion. Yet its monthly gain was only 0.5%, and year-to-date losses remain at 26.3%. Across the broader altcoin space, STO surged 75%, ALGO rose 17%, and Zcash gained 7%, leading privacy coins. On the losing side, TRX, BCH, and CC posted lackluster gains of 1.5%, 1.5%, and 3.1% respectively, while SIREN plunged 82%, bucking the bullish trend entirely.
Institutional Appetite Returns as ETFs Turn Positive
The shift in ETF flows and Bitmine's large ETH purchase indicate that institutional appetite is returning despite a volatile first quarter. Market confidence is gradually improving as geopolitical risks appear to moderate. However, the rally is uneven: high-cap coins benefited more while some mid- and low-cap assets underperformed or fell, suggesting capital is flowing toward liquid, well-known names. Whether the altcoin sector can sustain its trillion-dollar valuation will depend on continued macro clarity and sustained inflows.