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04/03/26 14:23 UTC-04

Bitcoin Jumps Toward $72,000 Amid Broad Crypto Rally

Cryptocurrency markets rose on Wednesday following a sell-off triggered by the escalation of the Middle East conflict, Bloomberg reports.

Bitcoin climbed more than 5%, approaching the $72,000 level and reaching its highest value in nearly a month. The coin later pulled back slightly but is still holding above the $70,000 level.


Bitcoin price chart

Ether also surged — up 6.3% to $2,092 — while cryptocurrencies in general posted widespread gains.

The world’s largest cryptocurrency has experienced several volatile days since U.S. and Israeli forces attacked Iran on Saturday, when BTC dropped to $63,038. Since then, investors have largely shifted toward digital assets, while U.S. spot Bitcoin ETFs attracted more than $680 million in inflows on Monday and Tuesday, according to data compiled by Bloomberg.

“Sentiment in financial markets remains extremely cautious as investors assess the latest developments in the Middle East and prepare for further shocks,” said Susannah Streeter, chief investment strategist at Wealth Club.

Despite Wednesday’s recovery, cryptocurrency markets remain tense: Bitcoin is still roughly 40% below its October peak following a prolonged sell-off.

See also: "Bitcoin Rises Despite U.S.-Iran Tensions! Is the Bear Market Ending? Analytics Firm Weighs In"

#Bitcoin (BTC) #Price Increase

Editor: Yuliya Soroka
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