Bitcoin rose to nearly $75,000 on Thursday, building on strong gains earlier in the week as improved global risk appetite and optimism over potential renewed U.S.–Iran diplomatic efforts boosted demand for the digital asset.
The leading cryptocurrency was last up 0.10 percent at $74,895 as of 9:30 GMT. Earlier in the week, Bitcoin surged to a four-week peak close to $76,000 before easing slightly due to profit-taking.
Bitcoin tracks global risk assets higher
Bitcoin’s recent gains tracked a wider upswing in global risk assets. Wall Street ended Wednesday at record levels, supported by robust corporate earnings and technology-driven momentum, while Asian stocks continued their advance on Thursday.
Reports also highlighted ongoing institutional accumulation and solid inflows into crypto markets, though upward momentum has been tempered by periodic profit-taking near recent peaks.
Investor sentiment has been buoyed by rising optimism that the United States and Iran may restart talks to prolong a delicate ceasefire, alleviating fears of an extended conflict.
Diplomatic efforts are reportedly ongoing, even as Washington keeps a naval blockade in place on Iranian ports and tensions surrounding the Strait of Hormuz remain elevated.
Read: Bitcoin holds near $74,000 despite extreme fear across crypto markets
Crypto market rises
Most altcoins posted modest gains on Thursday, tracking Bitcoin higher, supported by a broader risk-on environment.
The second-largest cryptocurrency, Ethereum, rose 1.06 percent to $2,344.78, while XRP, ranked third, climbed 4.68 percent to $1.4158.
Solana added 2.66 percent to $85.380, and both Cardano and Polygon advanced by about 4 percent each.
Among meme tokens, Dogecoin gained 3.56 percent.
