The cryptocurrency market has experienced a significant boost with Bitcoin's price rising above $75,000 following reports of a potential ceasefire extension between the US and Iran.
The deal is said to include the reopening of the Strait of Hormuz, easing of US sanctions, and unfreezing of Iranian assets. This development is seen as having a positive impact on market sentiment amidst ongoing geopolitical tensions.
As official announcements are anticipated soon, further volatility in the market is expected. The recent rise in Bitcoin's price comes after several declines in the cryptocurrency's value over the past few weeks.