Bitcoin Prices Soar Amid Easing Tensions in Middle East

Bitcoin surged to a three-month high on Tuesday, as concerns over the Iran-US conflict began to subside. The world's largest cryptocurrency reclaimed the $80,000 mark and reached a new high of $81,392.4. Analysts attributed the price increase to improved risk sentiment following statements from US Secretary of War Pete Hegseth and Iranian Foreign Minister Abbas Araghchi.

Meanwhile, corporate holding company Strategy reported a significant operating loss for its first quarter earnings, with unrealized losses on digital assets totaling $14.46 billion. Despite growing its Bitcoin holdings by 22% year-over-year, the company's operating loss widened from $5.92 billion to $14.47 billion.

Elsewhere, Coinbase announced plans to cut 14% of its workforce as part of an AI-focused restructuring. The move is aimed at reducing costs and realigning the business towards emerging technologies. Additional charges may arise from unforeseen factors related to the restructuring, which is expected to be largely complete by the end of the second quarter.