Bitcoin rises on Iran deal hopes as risk assets rally

Bitcoin climbed as much as 4% to $76,094, its highest level since February 4, as markets reacted to renewed optimism over potential U.S.-Iran peace talks. The rally placed Bitcoin at the upper end of its two-month trading range, with the price later settling around $74,000. Ether followed with a gain of up to 7.3%, briefly surpassing $2,400.

The move mirrored broader risk assets, which gained on President Donald Trump’s claim that Iran had initiated contact for negotiations, even as the U.S. began a naval blockade of the Strait of Hormuz. While the blockade heightened geopolitical tension, investors interpreted the simultaneous push for talks as a sign of extended diplomatic runway, supporting risk appetite.

Asian equities advanced on expectations that a resolution could ease oil prices and support global growth. Bitcoin’s rise coincided with an 18% weekly increase in spot trading volume, per K33 Research, while futures premiums on CME Bitcoin contracts neared their highest levels in three months.

Damien Loh, chief investment officer at Ericsenz Capital, noted that Bitcoin continues to outperform broader risk markets. Still, he cautioned that a decisive breakout may await passage of the Clarity Act, the proposed regulatory framework for digital assets in the U.S.