"Bitcoin hit $78,348 as Iran reopened the Strait of Hormuz, marking its highest price since Feb. 4. Global markets surged as Brent crude fell below $89, wiping out $810 million in crypto short positions."
"The primary catalyst has been a persistent stream of reports hinting at a diplomatic breakthrough between Washington and Tehran. This momentum culminated with the announced ceasefire between Israel and Lebanon."
"Since the beginning of April, bitcoin has risen by more than 14%, and by more than 20% since the start of the war in the Middle East."
Bitcoin reached an intraday high of $78,348, marking its highest price since February 4. The surge followed Iran's reopening of the Strait of Hormuz, contributing to a 4.1% gain in 24 hours and a market cap of $1.56 trillion. Since early April, Bitcoin has increased by over 14% and more than 20% since the onset of the Middle East war. Positive market sentiment was driven by reports of a potential diplomatic breakthrough between the U.S. and Iran, alongside the ceasefire between Israel and Lebanon.
Read at news.bitcoin.com
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