Houthis Stand Down, Crypto Stands Up: $BTC Tags $84K in Risk-On Rally 🚢

Bitcoin, Ethereum and XRP extended their advance on Monday after U.S. President Donald Trump cancelled planned military strikes against Yemen's Houthis, a move that eased immediate concerns over further escalation in the Middle East. The total crypto market capitalization rose 4.48% in the past 24 hours to $2.87 trillion, according to CoinMarketCap data.

Bitcoin price climbed to $84,468.29, gaining 5.11% over 24 hours and 8.65% over seven days. At press time, $BTC carried a market capitalization of approximately $1.68 trillion and 24-hour trading volume of $29.02 billion. Ethereum price traded at $2,707.70, up 4.98% over 24 hours and 7.68% over seven days, with $ETH's market cap at $329.49 billion and daily volume at $15.92 billion.

The move followed Houthi official Mohamed al-Bukhaiti's statement that the group had pledged to the United States not to attack U.S. ships in the Red Sea, with Washington contacting the group after its advance toward the Bab el-Mandeb Strait. The de-escalation removed a near-term geopolitical overhang that had weighed on risk assets, allowing digital assets to trade in line with broader relief across markets.

XRP joined the upside move alongside the two largest cryptocurrencies, extending a multi-day recovery as capital rotated back into major-cap tokens. Traders cited easing Middle East tensions as the primary catalyst, with no shift in U.S. monetary policy expectations reported alongside the move.

The $84,468.29 print for $BTC marks a fresh local high within the current leg higher, with $BTC and $ETH both posting percentage gains in the high-single-digits over the past week amid improved liquidity conditions across major spot and derivatives venues.