Risk appetite in crypto markets improved when President Trump extended the pause on strikes against Iran, with Ethereum and Hyperliquid outperforming Bitcoin.
• Brent crude fell nearly 9%, and the DXY slipped 0.2% as falling oil prices and a weaker U.S. dollar added to the bullish backdrop.
• Amid growing institutional interest, Hyperliquid has been on a rally, with Multicoin Capital recently projecting significant upside for the token.
Ethereum (ETH) and Hyperliquid (HYPE) led gains on Monday, outpacing Bitcoin (BTC) as the broader market turned green after President Donald Trump's pause on strikes against Iran reached its third day. Traders are turning their focus to Washington, where the CLARITY Act could become the next major catalyst for digital assets this week.
Ethereum's price rose by 4%, while HYPE's price climbed over 3% over the past 24 hours, outperforming Bitcoin's price, as the apex cryptocurrency was up only over 1% during the past 24 hours. On Stocktwits, the retail sentiment around BTC moved to 'bearish' from 'neutral' while chatter around it remained in the 'low' levels over the past day.
See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox
In comparison, on Stocktwits, the retail sentiment around ETH remained in the 'bullish' zone, while chatter around it stayed at the 'normal' levels over the past day. Meanwhile, retail sentiment around HYPE remained in the 'bearish' zone, while chatter around it shifted to 'high' from 'normal' levels over the past day.
On Stocktwits, one user said that the bottom was over for Bitcoin.
Reports indicate that this extension on the strike pause follows 13 consecutive nights of U.S. bombing. UN Ambassador Mike Waltz said on Sunday that Trump was "giving some talks some space," though the administration warned it remained "locked and loaded."
Additionally, Brent oil fell nearly 9%, while crude oil dipped by 7.83% per barrel, as the U.S. Dollar Index (DXY) slipped 0.2% on Monday.
Hyperliquid's outperformance also fed into the growing institutional focus on the decentralized exchange. Multicoin Capital published a detailed valuation for HYPE, projecting the token could hit $319 by 2028.
According to the firm, the market was undervaluing Hyperliquid by treating it as a perps exchange, a platform limited to perpetual futures trading, rather than the full-stack exchange it was building, which spanned spot trading, derivatives, native token launches, and on-chain infrastructure.