Bitcoin was last up at $77,651.4 by 02:39 ET (06:39 GMT), after touching an intraday high of $78,165.2 in the past 24 hours. The move marked a recovery from losses earlier in the week, when rising U.S. Treasury yields and geopolitical uncertainty weighed on digital assets.<\/p>\n
Investor sentiment improved after U.S. President Donald Trump said negotiations with Iran were in their final stages, raising expectations for a potential agreement that could reduce tensions around the Strait of Hormuz and alleviate concerns about energy supply disruptions. Trump indicated he was willing to wait a \u201cfew days\u201d for a deal, while warning of further military action against Iran if an agreement was not reached. Iran said on Thursday it was reviewing the latest U.S. position on ending the war.<\/p>\n
Despite the improved tone, bitcoin\u2019s advance remained modest as markets continued to focus on elevated bond yields and uncertainty over the Federal Reserve\u2019s policy path. Minutes from the Fed\u2019s April meeting showed policymakers remained concerned about persistent inflation, keeping alive expectations for another interest rate hike later this year. Bitcoin has struggled to maintain levels above $80,000 in recent weeks after briefly exceeding $82,000 earlier this month on optimism around the Iran negotiations.<\/p>\n
Nvidia reported quarterly revenue of $81.6 billion and forecast second-quarter revenue of about $91 billion, exceeding market expectations and reigniting enthusiasm for artificial intelligence-related assets and global technology markets. The results helped lift global equities, with Asian markets rallying sharply and semiconductor shares leading regional gains. The broader improvement in risk appetite spilled over into crypto markets, where traders closely track moves in technology and AI-linked themes.<\/p>\n
Crypto-related sentiment also received a boost from SpaceX\u2019s long-awaited IPO prospectus, released on Wednesday. The filing showed the company held 18,712 Bitcoin as of March 31, reinforcing expectations of continued institutional engagement with digital assets.<\/p>\n
Elsewhere in the crypto market, altcoins were mixed. Ethereum slipped 0.2% to $2,128.92, while XRP traded flat at $1.37. Solana gained 1.6%, whereas Cardano and Polygon each fell 0.5%. Among meme tokens, Dogecoin rose 1.4%.<\/p>\n
What is driving bitcoin\u2019s latest move higher?<\/strong> How are geopolitical developments affecting crypto markets?<\/strong> Why are gains in bitcoin still limited?<\/strong> How are other major cryptocurrencies performing?<\/strong>
Bitcoin\u2019s rise near $78,000 is being driven by improved risk sentiment following Nvidia\u2019s stronger-than-expected earnings, easing concerns over Middle East tensions, and supportive signals from institutional interest such as SpaceX\u2019s disclosed Bitcoin holdings.<\/p>\n
Comments from U.S. President Donald Trump about Iran negotiations being in their final stages have reduced some geopolitical anxiety, supporting risk assets including cryptocurrencies, although uncertainty remains given the possibility of further military action.<\/p>\n
Gains remain constrained by elevated U.S. Treasury yields and lingering uncertainty over the Federal Reserve\u2019s policy outlook, with April meeting minutes indicating ongoing concern about persistent inflation and the potential for another rate hike.<\/p>\n
Ethereum is down 0.2% at $2,128.92, XRP is flat at $1.37, Solana is up 1.6%, Cardano and Polygon are down 0.5% each, and Dogecoin has gained 1.4%.<\/p>\n