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Bitcoin rebounds above $77K amid rising stock markets
Bitcoin rebounded on Thursday, climbing back above the $77,000 mark after a recent decline, as improved global risk appetite boosted demand for cryptocurrencies alongside equities.
The world’s largest cryptocurrency was trading 1.8% higher at $77,143 as of 06:27 GMT after retreating earlier in the week to lows around $75,000.
Bitcoin jumped 12% in April amid optimism from a temporary ceasefire between the U.S. and Iran and record highs on Wall Street.
Earlier in April, Bitcoin rose above $79,000 amid optimism over potential de-escalation in the Middle East and strong institutional inflows.
A key short-term obstacle for Bitcoin remains the $80,000 resistance level, which has repeatedly capped rallies over the past month.
Cryptocurrencies follow Wall Street record highs
Investor sentiment was supported by resilient equity markets, where the S&P 500 and Nasdaq repeatedly hit all-time highs in recent sessions, increasing appetite for riskier assets including cryptocurrencies.
Sentiment was further boosted by positive results from Apple Inc (NASDAQ:AAPL), strengthening confidence in the technology sector. Strong iPhone demand and record services revenue were key drivers.
Analysts note that Bitcoin is increasingly trading in line with macro risk trends, behaving similarly to equities during periods of high liquidity and optimism.
However, Bitcoin’s gains remained limited as geopolitical risks persisted.
Reports on Thursday indicated that U.S. President Donald Trump was set to receive a briefing on potential military options against Iran, raising concerns about further escalation.
Iran warned that any new U.S. attack would trigger “prolonged and painful strikes” against American positions in the region.
The Strait of Hormuz remained effectively closed. Brent crude surged above $126 per barrel earlier on Thursday before retreating later in the day.
Crypto prices today: altcoins rise in range-bound trading
The world’s second-largest cryptocurrency, Ethereum, rose 1.6% to $2,284.74.
The third-largest cryptocurrency, XRP, gained 0.6% to $1.38.
Solana rose 1.6%, while Cardano added 1.3%, and Polygon edged up 0.6%.
Among meme tokens, Dogecoin jumped 2.4%.
See also: "Bitcoin breaks three-day losing streak and rises above $76,000 despite $75M in long liquidations"
