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Bitcoin today: holds above $74K on hopes of US-Iran talks
Bitcoin remained steady on Wednesday after surging above $74,000 in the previous session, supported by improved global risk sentiment and hopes for renewed diplomacy between the U.S. and Iran.
The world’s largest cryptocurrency was down 0.7% at $74,018.7 as of 07:48 GMT.
Bitcoin briefly reached highs near $76,000 over the past 24 hours before momentum slowed due to profit-taking.
Bitcoin tracks gains in global equities
Bitcoin’s recent rise mirrored gains in global equity markets. Wall Street closed sharply higher the previous day, with the S&P 500 ending just below record highs and the Nasdaq posting strong gains, while Asian stocks continued rising on Wednesday.
Investor sentiment improved after signs of easing geopolitical tensions, as U.S. President Donald Trump suggested that talks with Iran could resume, raising hopes for de-escalation in the Middle East conflict.
This came despite continued tensions. The U.S. launched a naval blockade targeting vessels leaving Iranian ports, while Tehran threatened retaliatory measures against ports in neighboring Gulf states following failed weekend talks.
A softer inflation backdrop in the U.S. also supported markets, as producer price data came in below expectations, reinforcing bets that pipeline inflation pressures are easing and reducing fears that interest rates will remain elevated for longer.
Market reports pointed to continued accumulation by large investors, with on-chain indicators suggesting steady inflows into major wallets.
In recent sessions, crypto has increasingly traded in tandem with equities, highlighting its sensitivity to macroeconomic and geopolitical developments.
Any deterioration in U.S.-Iran negotiations or a renewed spike in oil prices could weaken risk appetite and pressure crypto markets.
Crypto today: altcoins slip; Solana drops 4%
Most altcoins edged lower on Wednesday after strong gains in the previous session.
Ethereum, the world’s second-largest cryptocurrency, fell 2.4% to $2,317.92.
XRP, the third-largest cryptocurrency, declined 1.2% to $1.35.
Solana dropped 4%, while Cardano and Polygon each fell 2%.
Among meme tokens, Dogecoin slipped 0.3%.
See also: "RAVE token surged 50x in a week, entering top 30 largest cryptocurrencies"
