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Crypto Boosted by "Truce"! Trump's Decision Boosts the Market

Decreasing geopolitical tensions in global markets benefited crypto. Thanks to the US-Iran ceasefire and significant purchases by Strategy and Morgan Stanley, Bitcoin tested $78,000, while altcoins also saw a strong recovery.

As the cryptocurrency market continues its upward trend, Bitcoin tested the $78,000 level. The increase in prices was influenced by the reduced geopolitical risks following the US decision to extend the ceasefire with Iran, and by institutional purchases. While major altcoins like Ether and XRP also saw gains, analysts noted that the $70,000 level has become a strong support.

As the upward trend continues in the cryptocurrency market, Bitcoin tested above the $78,000 level. Geopolitical developments and institutional purchases influenced price movements.

On Wednesday morning, Bitcoin was trading at $78,068.63, gaining 2.82% compared to the previous day. At the time of writing, the price is trading at $77,943.1.

The market surge wasn't limited to Bitcoin alone. Major altcoins, particularly Ether, also saw increases. Ether rose 3.07% to $2,392.09, while XRP increased 1.94% to
$1.4575

$70,000 IS A STRONG PSYCHOLOGICAL SUPPORT LEVEL

Analysts note that Bitcoin's continued presence above $70,000 has made this level a strong psychological support. The fact that the $75,000 level has been surpassed again after the recent decline is interpreted as the current uptrend gaining technical strength.

It is stated that if these levels are maintained, the price has the potential to move towards new highs.

CEASEFIRE DECISION LIMITED RISK PERCEPTION

The upward movement in the markets was driven by a slight decrease in tension following the US decision to extend the ceasefire with Iran. US President Donald Trump's decision to extend the ceasefire to allow negotiations to continue limited short-term risk perception.

NEW BILLION-DOLLAR PURCHASES FROM LARGE INSTITUTIONS

On the other hand, purchases by institutional investors also supported the market. Strategy, led by Michael Saylor, bought 34,164 Bitcoin for approximately $2.54 billion. This transaction brought the company's total assets to 815,061 Bitcoin.

Morgan Stanley also added new Bitcoin to its portfolio. The institution reportedly purchased 215 Bitcoin worth approximately $16.43 million, bringing the total assets in Morgan Stanley Bitcoin to 1,820.6 Bitcoin. The total portfolio size is estimated to be approximately $138.1 million.
$BTC ‌$ETH ‌$XRP ‌