Bitcoin briefly exceeded $72,700 at the time of Trump’s announcement, reaching its highest level in 18 months.
Nice push for bitcoin. At 10:00 a.m. French time, the queen of cryptos was trading above $71,760, gaining 4.5% over one day. Bitcoin, like many stock indices, is buoyed by Donald Trump’s announcement to extend the ceasefire on the offensive against Iran by two weeks. Bitcoin briefly exceeded $72,700 at the time of Trump’s announcement, reaching its highest in 18 months.
Bitcoin is lifting the entire crypto market. Ether is trading at $2,250, gaining 7.5% since yesterday. The second largest crypto on the market achieves the largest increase in one day of the 10 most capitalized cryptos on the market.
“President Trump’s announcement of a two-week pause in strikes on Iran eased geopolitical tensions and triggered a sharp rebound in risk assets as markets priced in lower oil prices and restored global risk-taking sentiment,” Nick said Ruck, director of LVRG at specialist media The Block.
“Rebound in risky assets”
For several weeks, the asset has been on a roller coaster ride based on geopolitical tensions. Bitcoin thus ended the first quarter in the red, losing more than 23% over this period, achieving its “worst performance” since the first quarter of 2018 when it fell by 50%. In this context of upheaval, investors are encouraged to remain cautious with regard to this asset.
We will have to see how the queen of cryptos reacts between now and the end of these two weeks.
“Persistent obstacles, such as unresolved implementation of the truce, possible further escalations or broader macroeconomic pressures, could further limit the rise if risk sentiment reverses,” adds the expert.
Bitcoin has lost 43% of its value since its historic peak at $126,000 in October.
