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Bitcoin surged up to 5 per cent in 24 hours to cross $75,000-mark, marking one of the sharpest rallies in the current time. With the sudden rise, the BTC has reached four-week high on hopes of Iran-US talks for the second time.
According to CoinMarketCap, BTC’s latest price stood at $74,537, with market cap rising to $1.49 trillion.
US President Donald Trump said that Iran has reached out to his administration to resume peace talks, even as the US began a naval blockade of the Strait of Hormuz.
The central point, argued by Vikram Subburaj, CEO, Giottus, is that Bitcoin recovered as the oil shock eased, risk appetite improved, and Monday liquidity returned after a weaker weekend session.
The market is experiencing sharp, short-term price movements.
According to Vikas Gupta, Country Manager – India, Bybit, this shows a convergence of macroeconomic uncertainty and evolving dynamics.
Riya Sehgal, RA, Delta Exchange, cautioned that structural strength is building, but the market remains in a transition phase, balancing institutional inflows with macro uncertainty and near-term resistance.
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