The cryptocurrency surged past $78,000 on Wednesday morning, marking a 2.2% increase over the last 24 hours and a 4.3% rise for the week. This uptick follows President Donald Trump’s announcement to extend the Iran ceasefire indefinitely, alongside Strategy’s disclosure of acquiring 34,164 BTC for $2.54 billion. Ether surged 2.1% to reach $2,366, BNB increased by 1.3% to $640, and Solana experienced a gain of 1.8%, bringing its price to $87. The sole dip in the top 10 was a slight 0.1% decrease in stablecoins and Tron. The S&P 500 futures climbed by 0.5%, while Nasdaq 100 futures increased by 0.6% following Trump’s extension. However, the underlying benchmarks ended lower on Tuesday as negotiations experienced a brief setback. Brent crude remained steady around $98 a barrel.
The MSCI Asia Pacific Index experienced a decline of 0.7% as investors assessed the duration of the ongoing conflict in the Middle East. Trump attributed the breakdown of negotiations to what he described as a “seriously fractured” leadership structure in Tehran, stating that the U.S. would refrain from new attacks while maintaining its blockade in the Strait of Hormuz. Strategy’s buy marks the company’s most significant bitcoin acquisition since November 2024. The acquisition of 34,164 BTC at an average price of $74,395 per coin elevates the firm’s total holdings to 815,061 BTC, with a cumulative investment of $61.6 billion and an average cost basis of $75,527. With bitcoin priced at $77,541, the position is now showing a modest profit for the first time in several months.
Spot flows revert to the previous trend. According to source, global crypto funds attracted $1.4 billion last week, marking the most robust week of inflows since mid-January. Bitcoin garnered $1.12 billion, Ethereum attracted $328 million, Chainlink secured $5 million, and Sui brought in $2 million. XRP experienced $56 million in outflows, while Solana faced $2 million in outflows, even as both cryptocurrencies traded higher in price. Two structural signals indicate a unified direction. Bitcoin is currently maintaining a position above the realized price for short-term holders, approximately $69,400, according to analyst. This is the threshold where recent buyers find themselves in a profit rather than a loss, which historically decreases the likelihood of a cascade liquidation should sentiment shift.
A recent survey conducted by Nomura revealed that 65% of Japanese institutional investors currently include bitcoin in their portfolios for diversification purposes. Additionally, 31% of these investors have a positive outlook on the market, with the majority intending to allocate between 2% and 5% over the next three years. The ability of bitcoin to maintain its position at $77,000 during the European session hinges on market reactions to the ceasefire extension in light of ongoing disruptions in the Strait of Hormuz. A decisive move above $80,000 would indicate that the 46-day funding rate compression is transitioning into a short squeeze. A drop below $75,000 would indicate that the ceasefire extension is already factored in, suggesting that the rally requires a new catalyst to continue.