Optimism around U.S. Secretary of State Marco Rubio-led ceasefire talks lifted risk sentiment across crypto markets.

The talks followed a reported agreement between the U.S. and Iran on a 60-day ceasefire framework. Both sides retained the option to extend it through mutual agreement.

Amid the development, the total crypto market cap increased by roughly $39 billion, up 1.37%, and stabilized near $2.19 trillion. Bitcoin [BTC] reclaimed the $64,000 level at press time.

Ethereum [ETH] also showed signs of recovery and traded around $1,723. However, average daily trading volume remained below normal levels at $52 billion to $55 billion. That suggested conviction remained limited despite the rebound.

Are traders turning bullish?

As markets…