Bitcoin was trading at $78,553 as of 8 a.m. Thursday, up 4.18% from a day earlier, according to CoinMarketCap.
Major altcoins also gained. Solana rose 2.66% to $87.43, ether climbed 3.88% to $2,396.88, and XRP added 1.27% to $1.43.
Investor sentiment improved after Trump said Wednesday that he had received a “unified negotiating proposal” from the Iranian government and would extend the ceasefire until talks conclude in either direction, easing geopolitical tensions.
The rally also appeared to draw support from Strategy, the publicly traded company with the world’s largest bitcoin holdings, which said it bought an additional $2.54 billion worth of bitcoin from April 12 to 19 local time. The purchase was its third-largest single buy on record.
Some in the market say a move above $79,000 and a break past $80,000 could trigger a short squeeze — a surge driven by short sellers buying to cut losses — and set off a broader rally.
In South Korea, bitcoin was trading at about 116.32 million won ($78,621) on Bithumb as of 8 a.m., down 0.4% from the previous day. The so-called kimchi premium, which reflects higher domestic prices than overseas markets, stood at about 0.15%.
* This article has been translated by AI.
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