Bitcoin jumped to a one-month high above $74,000 on Tuesday, erasing losses over the weekend as improving risk appetite and easing oil prices supported broader financial markets.
The world’s largest cryptocurrency last traded 4.7% higher at $74,193.7 by 01:58 ET (05:58 ET).
The move pushed Bitcoin back toward Mid-March levels -- the period before the Iran conflict escalated.
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Bitcoin rises amid broader risk-on mood The rally tracked a broader rebound in global risk assets, with Wall Street posting strong gains on Monday. The S&P 500 rose more than 1%, while the Nasdaq Composite advanced as investors piled into technology stocks on sustained optimism around artificial intelligence demand.
Asian stock markets also climbed in early trading on Tuesday.
Sentiment in crypto markets was supported by a pullback in oil prices, which slipped below $100 a barrel after recent spikes, boosting appetite for riskier assets.
Markets also took some comfort from signs that diplomatic channels between the U.S. and Iran remain open, even after weekend talks failed to produce a breakthrough.
Reports indicated that Washington and Tehran are considering a second round of face-to-face talks in the coming days, aimed at extending a fragile ceasefire before it expires.
The reported diplomatic push comes even as tensions have escalated, with the U.S. imposing a naval blockade on Iranian ports and Tehran warning of retaliation.
Short covering also contributed to the move, with traders unwinding bearish positions as prices pushed higher, amplifying upward momentum.
Strategy acquires 13,927 BTC using preferred stock proceeds Strategy Inc (NASDAQ:MSTR) said on Monday it bought 13,927 bitcoins for about $1.0 billion last week, funded in part through sales of its preferred shares, according to a filing with the U.S. Securities and Exchange Commission.
The company said it sold about 10.03 million shares of its variable-rate Series A perpetual preferred stock, raising roughly $1.0 billion in net proceeds. The funds were used to purchase Bitcoin at an average price of about $71,902 per token.
Following the acquisition, Strategy’s total holdings rose to 780,897 BTC, purchased at an aggregate cost of $59.02 billion, the filing showed.
Crypto price today: altcoins jump, Ether surges 8% Most altcoins also rose sharply on Tuesday, with world no.2 crypto Ethereum jumping 8% to $2,361.92.
World no. 3 crypto XRP rose 3.6% to $1.36.
Solana climbed%, while Cardano and Polygon rose 2% each.
Among meme tokens, Dogecoin advanced 2%.
