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Bitcoin hits monthly high above $74K
Bitcoin surged to a monthly high above $74,000 on Tuesday, recovering weekend losses amid improved risk appetite and falling oil prices, which supported broader financial markets.
The world’s largest cryptocurrency was trading 4.7% higher at $74,193.7 as of 06:58 GMT.
This move brought Bitcoin back to mid-March levels — the period before the escalation of the conflict with Iran.
Bitcoin rises amid broader risk-on sentiment
The rally followed a broader recovery in global risk assets, with Wall Street posting strong gains on Monday. The S&P 500 rose more than 1%, while the Nasdaq Composite advanced as investors piled into technology stocks amid continued optimism over artificial intelligence demand.
Asian stock markets also moved higher early Tuesday.
Crypto market sentiment was supported by a drop in oil prices, which fell below $100 per barrel after recent spikes, boosting appetite for riskier assets.
Markets also found some relief from signs that diplomatic channels between the U.S. and Iran remain open, even after weekend talks failed to produce a breakthrough.
Reports suggest that Washington and Tehran are considering a second round of in-person talks in the coming days, aimed at extending a fragile truce before it expires.
These reported diplomatic efforts come even as tensions escalate: the U.S. has imposed a naval blockade on Iranian ports, while Tehran has warned of retaliation.
Short covering also contributed to the move, as traders unwound bearish positions amid rising prices, reinforcing upward momentum.
Strategy buys 13,927 BTC using proceeds from preferred stock sale
Strategy Inc (NASDAQ:MSTR) said on Monday it purchased 13,927 bitcoins for approximately $1.0 billion last week, partially funded through the sale of its preferred shares, according to filings with the U.S. Securities and Exchange Commission.
The company said it sold about 10.03 million shares of its perpetual preferred stock, Series A, with a variable rate, raising approximately $1.0 billion in net proceeds. The funds were used to purchase Bitcoin at an average price of about $71,902 per token.
Following the acquisition, Strategy’s total holdings increased to 780,897 BTC, acquired at a total cost of $59.02 billion, the filings showed.
Crypto prices today: altcoins jump, Ether surges 8%
Most altcoins also rose sharply on Tuesday, with the world’s second-largest cryptocurrency Ethereum jumping 8% to $2,361.92.
The third-largest cryptocurrency XRP gained 3.6% to $1.36.
Solana rose%, while Cardano and Polygon each gained 2%.
Among meme tokens, Dogecoin rose 2%.
