The cryptocurrency market has seen a significant uptick in recent hours, with Bitcoin (BTC) reaching its highest level in three weeks.
The price of BTC has been steadily increasing since Monday's reports of the United States and Iran starting talks. Although the asset initially slipped below $68,000 after follow-up reports challenged this claim, it turned higher again on Tuesday after both sides announced a 'two-week cease-fire.' This development supported market sentiment, causing the asset to climb even further.
BTC has now reached $73,500, its highest level since March 18, before easing slightly below $73,000. Its market value rose to $1.455 trillion, according to CoinGecko data, with its share of the total crypto market increasing over the past week and standing above 57%.
Ethereum (ETH) also moved higher, regaining above the $2,200 mark after a 2.3% daily rise. BNB followed suit, moving past $600, while HYPE climbed more than 5% and reclaimed $40.