Bitcoin's value has experienced a significant increase following President Trump's announcement of an extended ceasefire with Iran. On Wednesday, the cryptocurrency surged by 3.18% to reach a value of $79,003.
The positive momentum is attributed to the improved market sentiment caused by the ceasefire. However, investors are advised to be cautious as Bitcoin remains below its all-time high and may experience a potential pullback.
The trade volume of Bitcoin has also seen an increase, rising nearly 20% in 24 hours to reach $45.9 billion. This indicates renewed investor interest in the cryptocurrency market.