Bitcoin surges above $78,000 as Trump extends Iran ceasefire and boosts risk appetite

Bitcoin prices rose sharply after President Donald Trump's announcement of a ceasefire extension with Iran, reducing fears of further escalation and supporting risk assets. The cryptocurrency climbed alongside U.S. stock futures, reflecting renewed investor optimism.

As a result, Bitcoin reached $78,088 on Wednesday, up 3.1% in the past 24 hours and 5.3% for the week. Ethereum also gained 3.2% to $2,391. The Crypto Fear & Greed Index stood at 32, still in the 'Extreme Fear' zone but showing a slight improvement.

Analysts noted that cryptocurrencies have shown resilience in recent weeks, often rising on positive news while shrugging off negative headlines. This has led some experts to suggest that Bitcoin's relative strength may continue, with potential upside capped near $79,000 due to profit-taking pressures.