Bitcoin has seen a breakout from being influenced by Iranian news headlines.
On Wednesday morning, Bitcoin was traded at $77,541, marking a 2.2% rise over the past 24 hours and a 4.3% increase over the week. This uptick follows President Trump’s announcement of an indefinite extension to the Iran ceasefire and Strategy’s disclosure that it purchased 34,164 BTC for approximately $2.54 billion. Ether experienced a 2.1% gain, reaching $2,366; BNB rose by 1.3% to $640; Solana increased by 1.8%, hitting $87. Among the top 10 cryptocurrencies, only stablecoins and Tron saw slight declines of 0.1%.
S&P 500 futures went up by 0.5% while Nasdaq 100 futures climbed 0.6% after Trump’s announcement, despite both benchmarks closing lower on Tuesday amid brief negotiation uncertainties. Brent crude prices hovered around $98 per barrel. The MSCI Asia Pacific Index decreased by 0.7%, as investors considered the potential duration of Middle Eastern tensions.
Trump attributed negotiation failures to a “seriously fractured” leadership in Tehran and stated that while fresh attacks would be postponed, the US would maintain its blockade of the Strait of Hormuz.
Strategy’s acquisition is its largest since November 2024, with 34,164 BTC purchased at an average price of $74,395 per coin. This brings their total holdings to 815,061 BTC, valued at $61.6 billion and costing on average $75,527 each. With the current Bitcoin rate at $77,541, Strategy’s position is now slightly profitable after several months.
Global crypto funds attracted $1.4 billion last week, the strongest inflow since mid-January according to CoinShares, with Bitcoin securing $1.12 billion and Ethereum $328 million. Chainlink received $5 million while Sui saw $2 million in investments. XRP had $56 million outflows; Solana experienced $2 million outflows despite both having higher price trades.
Two indicators suggest a positive trend. Analyst Darkfost noted that Bitcoin is now above the realized price of short-term holders at around $69,400, meaning recent buyers are holding profits rather than losses, reducing potential liquidation risks if market sentiment shifts.
A Nomura survey revealed that 65% of Japanese institutional investors hold Bitcoin for portfolio diversification. Among them, 31% have a positive market outlook and plan to allocate between 2% and 5% over the next three years.
Bitcoin’s ability to maintain $77,000 during the European session will hinge on how markets interpret Trump’s ceasefire extension against ongoing Strait of Hormuz disruptions. A rise above $80,000 would signal a reversal in the 46-day funding rate compression, indicating a short squeeze. Conversely, dropping below $75,000 could imply that the ceasefire was already anticipated, requiring new catalysts for continued growth.