Bitcoin and most altcoins held steady on Sunday as investors embraced a risk-on sentiment amid the rising hope of a deal between the US and Iran. Humanity Protocol (H) token jumped by 50% in the last 24 hours. It has soared by over 670% from its lowest point this month and has nearly pared back all the losses made last week.
Humanity, Bittensor, Worldcoin, and Pi Network Are Soaring
Bittensor (TAO) price jumped to $265, its highest point since May 27. It has also jumped by 51% from its lowest point this month. Worldcoin and Pi Network prices jumped by 8.50% and 5% in the last 24 hours. This rebound helped to boost the market capitalization of all coins rose by 1.28% to over $2.2 trillion.
Humanity, Bittensor, Worldcoin, and Pi Network tokens are rising as investors wait for the upcoming deal between the United States and Iran. President Donald Trump has already hinted that a deal between the two will be signed as soon as this weekend. As a result, crude oil prices retreated on Hyperliquid, with Brent and the West Texas Intermediate moving closer to $80.
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A deal would be highly beneficial to the crypto market because of the impact on inflation and the Federal Reserve. Data released last week showed that the headline CPI and PPI jumped to 4.2% and 6.4%, respectively. Such numbers would make it hard for the Fed to cut interest rates. As such, a deal will lead to a reversal.
These tokens are also rising because of the ongoing developments in the artificial intelligence industry. SpaceX launched its highly anticipated IPO on Friday, with its stock rising by 19%. Other AI companies like OpenAI and Anthropic are also going public soon. Worldcoin is more exposed to these IPOs as it was started by OpenAI’s Sam Altman.
In a major development, the US government issued export controls for Fable, a new model launched by Anthropic, citing national security concerns. This ban means that the US government is becoming scared about the industry as advancements surge.
Rebound Faces Some Major Risks
Still, the ongoing rebound faces some two risks that may derail the performance soon. For one, there is the risk that the US-Iran deal will not stand as Israel and its allies will work to undermine it. Israel has already said that it will continue with its bombing campaign in Lebanon.
The other risk, especially for Humanity Coin, is that the ongoing rebound may be a dead cat bounce (DCB). In most cases, as we have seen with tokens like Mantra and Cetus, it is common for hacked tokens to jump briefly and then resume the downtrend.
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