$THE

Cryptocurrency markets witnessed a notable rebound during today’s trading, driven by improved risk appetite among investors following U.S. President Donald Trump’s announcement of a temporary two-week ceasefire with Iran. This geopolitical development eased tensions, positively impacting high-risk assets, particularly digital currencies.

Bitcoin, the world’s largest cryptocurrency, rose by 4.27% to approach the $72,000 level after briefly touching $73,000, its highest point in nearly three weeks. Ethereum also recorded strong gains of 6.82%, while XRP climbed 5.2%, and BNB increased by 1.96%.

Meanwhile, oil prices declined to below $100 per barrel amid expectations of reopening the Strait of Hormuz, further encouraging a shift toward higher-yield investments. Analysts believe that cryptocurrencies have become increasingly correlated with global market movements, especially during periods of geopolitical change.