Bitcoin held steady above $78,000 on Thursday, as investors weighed persistent geopolitical tensions in the Strait of Hormuz despite an extension of a U.S.-Iran ceasefire.
The world’s largest cryptocurrency last traded 0.2% higher at $78,166.2 by 02:46 ET (06:46 GMT).
Prices had climbed above $79,000 on Wednesday, marking their strongest level since early February.
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US-Iran tensions continue despite ceasefire; oil rises Trump on Tuesday extended a ceasefire with Iran, stepping back from plans for renewed military strikes, although uncertainty remained as Tehran has not formally accepted the extension and has criticized the ongoing U.S. naval blockade of its trade routes.
Iran’s Revolutionary Guard seized two container ships in the Strait of Hormuz on Wednesday, tightening its grip on the key energy chokepoint. Iranian forces also fired on three vessels in the area.
The ongoing standoff has kept global energy markets on edge, with oil prices holding above $100 per barrel.
Asian stock markets and Wall Street futures declined Thursday morning.
Still, cryptocurrencies were better supported, primarily by renewed institutional demand.
Strategy Inc (NASDAQ:MSTR) has continued its aggressive accumulation of cryptocurrency, announcing another multi-billion dollar purchase this week.
GSR launches first multi-asset crypto ETF GSR said on Wednesday it launched its first exchange-traded fund, the Crypto Core3 ETF (BESO), marking its entry into asset management.
The U.S.-listed fund offers actively managed exposure to Bitcoin, Ethereum, and Solana, and may generate additional returns through staking.
GSR said the ETF will rebalance weekly based on research signals and charge a 1% management fee, as it targets growing demand for diversified crypto investment products.
Crypto price today: altcoins slip; Cardano down 3% Most altcoins fell on Thursday as a rise in oil prices weighed on broader risk sentiment.
World no.2 crypto Ethereum lost 1.7% to $2,350.41.
World no. 3 crypto XRP fell 2.3% to $1.42.
Cardano slipped 3%, while Polygon and Solana declined 2% each.
Among meme tokens, Dogecoin dipped 1.5%.
