Bitcoin Surges Past $78,000 as Iran War Progress Boosts Risk Appetite

The cryptocurrency market experienced a significant surge in value on Friday, with bitcoin hitting a two-month high of $78,000.

According to reports, progress towards ending the Iran war, including President Trump's announcement that Iran had committed to keeping the Strait of Hormuz open, boosted risk appetite and sent the price of digital assets soaring.

As a result, digital asset treasury firms rallied sharply, gaining up to 20%, while broader markets, including oil prices, also rose.