Bitcoin surged to $76,000, marking a new high since the onset of the conflict, driven by lower-than-expected PPI data and declining oil prices. The cryptocurrency rose 5.6% on Tuesday, breaking through a key short-selling zone and rebounding over 12% since the April 7 ceasefire low of $66,000. The rally is fueled by expectations of looser liquidity conditions as peace talks progress.
In broader markets, the S&P 500 climbed over 1%, while the Nasdaq achieved its tenth consecutive daily gain. The indices were buoyed by softer-than-expected PPI data and strong bank earnings. Meanwhile, WTI oil prices fell nearly 8% amid optimism for U.S.-Iran negotiations, which could begin within two days following Trump's announcement that the war is over.
In industry news, Deutsche Börse invested $200 million in Kraken, and Goldman Sachs filed for a Bitcoin Premium Income ETF. Circle's founder confirmed plans to launch a token for the Arc Network, aiming to transition it to a PoS system.
Bitcoin Hits $76,000 as Markets Rally Amid U.S.-Iran Peace Talks
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