Bitcoin prices experienced a slight increase on Wednesday, following US President Donald Trump's announcement that Iran had requested a ceasefire. This development comes as a relief to investors who have been concerned about the impact of the Middle East conflict on global markets.
The Strait of Hormuz, which is critical for oil and gas supply, has been effectively shut down by Iran since the start of the conflict. However, if confirmed, this would mark another significant step towards de-escalation in the region.
Bitcoin rose 0.3% to $68,478.6 by 17:26 ET (21:26 GMT), following the news. The crypto market remains cautious due to the potential risks posed by quantum computing breakthroughs, which could compromise the security of cryptocurrencies like Bitcoin.