Bitcoin climbed towards $75,000 on Thursday, rising 1.1% to $74,890 as easing geopolitical tensions and renewed risk appetite supported demand for the cryptocurrency.
The move follows a broader rally in global risk assets, with equities hitting record highs and investors increasingly optimistic about a potential resumption of diplomatic talks between the United States and Iran.
“This pattern — rallies followed by quick pullbacks — has become the hallmark of recent trading, reflecting a market capable of generating upward momentum but still struggling to maintain it,”
Said IG Group analysts.
Bitcoin briefly touched a four-week high near $76,000 earlier in the week before retreating as traders locked in profits, highlighting continued resistance near recent peaks.
Analysts said improving macroeconomic sentiment and hopes for a sustained ceasefire have driven flows into higher-risk assets, including cryptocurrencies, while volatility has remained relatively contained, adding that a break above $76,100 could confirm further upside momentum. Following the announcement the Bitcoin price was unchanged at $74,890.
The recent gains mirror strength in global equity markets, with Wall Street posting record closes and Asian stocks extending advances, reinforcing Bitcoin’s correlation with broader risk sentiment.
Despite continued institutional accumulation and inflows into crypto markets, analysts cautioned that intermittent profit-taking may continue to cap gains unless a decisive breakout above resistance levels is achieved.
At the time of reporting, Bitcoin price was $75,121.89.