Bitcoin Surges Above $77k Amid Iran Peace Deal Hopes

Bitcoin has continued its upward trend, reaching above $77k as traders weigh the prospects of an Iran peace deal. The cryptocurrency's price was influenced by the U.S. Senate Banking Committee's advancement of key legislation for the industry, which sparked a brief surge in prices last week.

The Federal Reserve minutes released on Wednesday hinted at future rate hikes, which has weighed heavily on the crypto market. Despite this, investors remain optimistic about the prospects of an Iran peace deal, with President Donald Trump stating that the U.S. was in the 'final stages' of negotiations with Iran.

Meanwhile, European banks have expanded their stablecoin consortium to include 25 new members, bringing its total to 37 financial institutions from 15 countries. The consortium aims to launch a euro-pegged cryptocurrency later this year and position itself as a European answer to U.S. dominance in digital payments.